Since its launch in 2020, Percayso has partnered with a number of insurers, brokers, and MGAs. Its 65-strong clientele includes Ageas, Covea, Direct Line, Markerstudy, Somerset bridge, the AA, and more.
Following the investment from Praetura in March 2022, the insurtech extended its proposition to deliver a full quote intelligence suite. Its technology aggregates data from multiple sources, allowing intelligence to be accessed with a simple API call.
Rich Tomlinson, managing director at Percayso, said: “We’re delighted to welcome Neil as an investor. He has a breadth of experience and knowledge to share from his 30 plus years of working in our industry at the highest level. In particular, his expertise in the motor insurance market will be invaluable in helping us to achieve our ambitions for Percayso Vehicle Intelligence. And we’re hugely proud that Praetura Ventures are continuing to support us. We’ve forged a fantastic relationship and in particular, I’d like to offer special thanks to Guy Weaver from their team who played a critical role in the Cazana acquisition.
“As we look ahead, we believe that Percayso Inform will play a key role in helping insurance providers of all shapes and sizes to get more out of the wealth of data available to enable them to write better business. The combined skills and experience that Neil and Praetura Ventures bring to our business will undoubtedly help us to accelerate our growth plans.”
Neil Utley was chairman at Hastings where he led the management buyout from Insurance Australia Group in 2009. He also led the insurer through its PO in 2015.
Utley commented: “Rich and his team are building one of the most exciting businesses to have emerged in our industry in many years. UK insurance providers have been crying out for a flexible, scalable and easy to integrate data intelligence solution. I’m incredibly impressed with all that Percayso has achieved so far and look forward to helping the team take the business to the next level.”
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Peel Hunt advised Percayso on the fundraise and the legal team at Knights acted for Percayso. Furthermore, Praetura Ventures were advised by the legal team at Irwin Mitchell.