Simply Business

What Simply Business does

Simply Business is a UK-founded (2005) digital insurance marketplace operating as a wholly-owned subsidiary of The Travelers Companies, Inc., with offices in London, Northampton, and Boston. The platform enables small and medium enterprises and landlords to compare and purchase tailored insurance quotes from up to 15 specialized carriers online, with 1 million+ cumulative customers and 900,000+ active UK policies across 1,500+ trades. Core product lines include public liability, professional indemnity, employers' liability, commercial buildings, shop, tool, consultant, and contractor insurance, plus landlord covers and Business Health Insurance via Equipsme.

The technology stack combines a self-serve quote engine with a proprietary Retrieval-Augmented Generation (RAG) AI Advisor built on Anthropic's Claude Sonnet 4.5 and a conversational quoting app inside ChatGPT's App Directory that connects to Simply Business's indicative pricing engine. Distribution channels span SEO-optimized trade pages, paid search, social media, referral programs, UK-based phone support, and the LU One agent portal via a London Underwriters partnership. Claims handling is outsourced to specialist partner Sedgwick, paying £57 million in claims in 2025 with over 95% of settled claims paid within 24 hours.

The business model is a commission-based marketplace: Simply Business earns brokerage fees from carrier partners when policies are placed, with pricing tiered by trade, coverage level, and customer profile (e.g., public liability from £5.76/month). Customer segments are segmented by trade vertical — sole traders, consultants, contractors, retailers, larger SMEs in wholesale/manufacturing, and landlords — with claims and operational performance (4.6/5 Feefo across 40,000 reviews) serving as the primary retention asset.

Name

Simply Business

Legal name

Xbridge Limited

Website

https://simplybusiness.co.uk

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Simply Business is a UK-founded digital insurance marketplace — owned by The Travelers Companies — that enables small businesses and landlords across the UK and US to compare and purchase tailored coverage from up to 15 carriers across more than 1,500 trades via a self-serve platform enhanced by a proprietary RAG-based AI Advisor and a ChatGPT insurance app.

Ownership category

akta.pro rank

Product category

SME Commercial Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Digital Distribution & Comparison Platforms (Aggregators/Marketplaces) (FSAGAGAA)

Keywords

• Business insurance broker
• SME insurance marketplace
• Landlord insurance
• Insurance comparison platform
• Commercial insurance aggregator

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Insurance Brokerage Fees: Simply Business acts as a digital insurance broker/marketplace, earning commissions from insurance carriers when policies are sold through their platform. Customers compare and purchase insurance from leading providers, with Simply Business facilitating the transaction and earning revenue from carrier partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

Simply Business operates a digital insurance marketplace that aggregates and compares quotes from up to 15 specialist UK insurance carriers, enabling small business owners and landlords to purchase tailored cover online in approximately 7 minutes. Core products include business insurance (public liability, professional indemnity, employers' liability, commercial buildings, product liability, shop, tool, commercial combined, consultant and contractor policies) and landlord insurance, supplemented by an in-house AI Insurance Advisor and a ChatGPT-based quoting app that connects to the company's pricing engine.

Product overview

Simply Business is a digital insurance marketplace for small businesses and landlords, operating as a subsidiary of The Travelers Companies. The company offers a platform-plus-module architecture: its core platform provides business insurance and landlord insurance, with over 1,500 trade types covered. The product portfolio includes core insurance products (Public Liability, Professional Indemnity, Employers' Liability, Commercial Buildings, Commercial Combined) and specialized offerings (Shop, Tool, Consultant, Contractor insurance). Add-on capabilities include Business Health Insurance (via Equipsme partnership) and AI-powered distribution through the ChatGPT Insurance App and AI Advisor (using proprietary RAG technology built on Anthropic's Claude Sonnet 4.5). The company also operates grant programs including the Big Dreams Grant ($25,000) and Young Entrepreneur Fund (£5,000 grants). The London Underwriters partnership enables agents to access additional carrier options through a digital portal. Customers can compare quotes from up to 15 insurers and purchase in approximately 7 minutes.

Differentiator

Problem solved

Functional benefit

Products and services

• Public Liability Insurance Protects businesses against third-party injury, property damage, and product liability claims, covering legal fees and compensation costs. Available from £5.76 per month for up to £2 million of cover, targeted at sole traders and SMEs operating client-facing trades.
• Professional Indemnity Insurance Protects businesses against claims and legal expenses arising from client financial losses due to negligent advice or mistakes. Coverage ranges from £50,000 to £5 million depending on business type, starting from £6.62 per month, primarily for consultants and professional service providers.
• Employers' Liability Insurance Legal-requirement cover for most UK employers, paying compensation claims from employees injured or made ill through work. Available from £9.29 per month for £10 million of cover plus up to £2 million public liability.
• Commercial Buildings Insurance Covers repair or rebuild costs when business premises are damaged by storms, fire, vandalism or flooding, and protects contents, fittings and equipment for business owners who own their premises.
• Product Liability Insurance Protects businesses against compensation costs where someone is injured, becomes ill, or suffers property damage from a product the business has designed, made, sold or supplied, including failure-to-perform claims.
• Shop Insurance Comprehensive retail insurance combining public and product liability, employers' liability, buildings, contents, stock, legal expenses and personal accident cover for high street shops, boutiques and clothing stores, from £8.96 per month.
• Tool Insurance Covers replacement or repair of tools and equipment damaged, destroyed, lost or stolen, including tools left in vans overnight as standard, for tradespeople such as self-employed builders.
• Commercial Combined Insurance Comprehensive multi-line commercial cover for larger SMEs including property-led products for wholesalers, manufacturers, factories and warehouses with large or complex risks, combining buildings, contents, stock and optional liability covers up to £10 million.
• Consultant Insurance Bundled insurance for consultants covering professional indemnity (£50,000 to £5 million), public liability, employers' liability, business equipment, legal expenses and personal accident, from £6.53 per month.
• Contractor Insurance Tailored contractor insurance for builders, accountants and IT contractors covering accidents, injuries, missed deadlines and equipment damage, from £6.53 per month.
• Business Health Insurance Private health benefits for businesses provided via Equipsme, including 24/7 private GP access, physiotherapy, specialist consultations, tests/scans and private hospital treatment, from £9 per employee per month (minimum two employees).
• Landlord Insurance Customisable landlord insurance for residential and commercial rental properties covering buildings, contents, loss of rent, property owners' liability, accidental damage, tenant default and unoccupied property, serving over 300,000 landlords.
• ChatGPT Insurance App A business insurance quoting application integrated within ChatGPT's App Directory that connects to Simply Business's indicative pricing engine to deliver instant insurance estimates based on business type, estimated annual revenue and ZIP code, then directs users to complete full quotes and purchases on the Simply Business website. Available in the US and UK from 23 April 2026.
• AI Insurance Advisor A proprietary Retrieval-Augmented Generation (RAG) AI advisor built on Anthropic's Claude Sonnet 4.5 that provides hyper-personalised conversational guidance to small business owners throughout the insurance buying process, with real-time clarification, verified responses and continuous learning. Demonstrated a 20% higher purchase rate among engaged users and a 9% lift in Request-for-Quote when low-intent visitors interact three or more times; named SMB InsurTech Solution of the Year at the 2026 FinTech Breakthrough Awards.

Quantifiable outcome

• 20% higher purchase rate among users who engaged with the AI advisor during beta testing
• +4 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability5 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered flagship, emerging, supporting and core.

• Sky's the LimitflagshipStrategic or Co-development Partner · 5 May 2026Joint initiative for 2026 Big Dreams Grant offering $25,000 total ($5,000 each to five small business owners) along with mentorship and access to accelerator resources through Sky's the Limit's Launchpad platform. Addresses funding gap with 87% of small business owners relying on personal funds and 57% experiencing flat/declining revenue.
• OpenAI / ChatGPTemergingTechnology or Integration · 23 April 2026Launched business insurance quoting app within ChatGPT's App Directory, connecting the AI platform to Simply Business pricing engine. Allows small business owners to receive indicative insurance prices by entering business type, annual revenue, and ZIP code. App functions as discovery and first-touch engagement channel compressing the purchase funnel.
• Hatch EnterprisesupportingStrategic or Co-development Partner · 19 November 2025Partnership providing additional business support for Young Entrepreneur Fund grant winners. Hatch Enterprise evaluates applications and provides ongoing mentorship and development resources for young entrepreneurs receiving £5,000 grants.
• London UnderwriterscoreChannel Partner/ Reseller/ Distributor · 25 March 2025Partnership integrating Simply Business carrier panel with London Underwriters' proprietary single sign-on portal LU One. Enables agents to efficiently access general liability, professional liability, property coverage, and inland marine insurance for small business customers through a fully digital experience. Expands reach to home-based businesses, online retailers, and contractors.
• AnthropiccoreTechnology or IntegrationAI technology provider powering Simply Business AI advisor with Claude Sonnet 4.5 model, enabling hyper-personalized conversational guidance throughout the insurance buying process.
• SedgwickcoreTechnology or IntegrationSpecialist claims partner handling claims on behalf of insurers. Paid £57 million in claims in 2025, with over 95% of settled claims paid within 24 hours. Provides 24/7 claims helpline.
• EquipsmesupportingTechnology or IntegrationProvider of business health insurance plans offered through Simply Business platform. Plans include 24/7 private GP access, physiotherapy, health checks, and private specialist consultations with various coverage levels.
• Premium CreditsupportingOthersCredit provider enabling customers to pay for insurance policies in 10 monthly instalments rather than one lump sum. Simply Business receives full payment upfront from Premium Credit.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• CoverWallet: US digital SMB insurance marketplace comparing quotes from multiple carriers for small businesses, similar marketplace/comparison GTM to Simply Business. Directly comparable as an SMB-focused insurance aggregator.
• Next Insurance: US-focused digital SMB insurance provider offering tailored policies (general liability, professional liability, workers' comp) directly to small businesses online, with embedded AI underwriting. Directly comparable as a digital-first SME insurance distribution competitor, particularly for Simply Business's US growth ambitions.
• Thimble (Berkshire Hathaway): US digital SMB insurance provider offering short-term and annual policies to freelancers and small businesses, owned by Berkshire Hathaway. Direct peer to Simply Business's US SME proposition, with similar self-serve, quote-in-minutes GTM.
• Superscript: UK-based insurtech providing tailored business insurance for SMEs and startups through a digital platform with multiple carrier integrations. Closest UK-native direct peer to Simply Business in customer segment, product mix, and digital distribution model.

Broad incumbents

• Hiscox: UK and US specialty insurer with deep SME and professional indemnity exposure, both as a direct carrier and via broker panels. Comparable as a large incumbent that competes in Simply Business's served SME lines and is also one of its carrier-panel providers.
• Lemonade: AI-native digital insurance carrier with growing small commercial and SMB offerings, employing Simply Business's recently-hired VP Head of Insurance Product. Comparable as a tech-forward incumbent with overlapping AI-driven distribution ambitions.
• Towergate Insurance: Major UK commercial insurance broker with broad SME and trade-specific product offerings. Comparable as a long-standing UK incumbent broker competing for the same small business and landlord customers that Simply Business targets digitally.
• Marsh Commercial: UK arm of Marsh (Marsh McLennan), serving SMEs and mid-market commercial clients with broker-led insurance placement. Comparable as a large incumbent broker with overlapping SME customer segments and a competitive carrier panel.
• Howden Group: Large UK-headquartered insurance broker with growing SME and digital distribution capabilities, including a significant UK retail and commercial book. Comparable as a UK incumbent broker competing for SME share and increasingly investing in digital channels.

Emerging players

• Zego: UK insurtech offering commercial insurance (motor, fleet, van) to gig economy and small business drivers. Comparable as a UK digital-native insurtech in adjacent SME lines, though with a more vertical (mobility) focus than Simply Business's broad SME trade coverage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/simplybusiness
• YouTubeyoutube.com/user/simplybusiness
• Facebookfacebook.com/SimplyBusiness
• LinkedInlinkedin.com/company/simply-business_39914
• Instagraminstagram.com/simplybusiness
• TikToktiktok.com/@simplybusiness

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Simply Business