Polaris reveals 21% imarket premiums surge to £394m in 2023

Insurance industry owned Polaris has revealed a 21% jump in premiums placed through its digital trading platform imarket to £394m in 2023 as policies broke through the half a million barrier.

The number of policies placed via imarket increased 6.2% year-on-year to 528,711 helping drive the premium growth alongside market hardening.

During the year Polaris invested more than £2.5m with £1.5m spent on imarket and over £1m on its rating engine ProductWriter.

Polaris detailed the £1.5m spend moved imarket into scalable cloud technology with a significant proportion of the platform recoded to refresh the infrastructure and futureproof it for the next decade of digital trading.

Enhancements

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