ACTIVEQUOTE (Cardiff)

Origins

ActiveQuote had a vision for a way to compare health insurance online. At the time, the industry said it was not possible or commercially viable, ActiveQuote challenged this and succeeded. It developed a health insurance comparison that allows consumers to tailor policies live from the comparison page by adding/removing options such as dental cover and changing variables such as excess, hospital cover. ActiveQuote innovated the world’s first column-based insurance comparison, providing all of the details of each product and not pushing customers to the cheapest first, which was highly inappropriate for health insurance. Behind the scenes, ActiveQuote developed internal software systems to empower specialists to sell via the telephone following online comparisons conducted by consumers. These specialists can interact with the customer’s comparison, change options for the customer and produce a shortlist for the customer, at the same time as advising them on the telephone.

Success Factor

The three key success factors are innovation (the company needed to be highly innovative to enter an established market and succeed); people (the company succeeded by identifying passionate, intelligent, hard-working people) and location (the company succeeded by placing itself in Cardiff which is a hotspot for financial services with good people available, offers a great lifestyle for its staff, great infrastructure and all at a reasonable cost).

The Future

ActiveQuote expects to continue its growth in its existing three insurance product lines both through working with partners and developing the ActiveQuote brand organically. It will continue to invest in development of new software innovations, particularly Conversational User Interface, to retain its position as a best in class and most innovative financial services comparison business in the UK. The firm continues to attract talented professionals to help grow the business with significant investment in developing the marketing and software teams.