A NEW name with a new concept in car insurance is motoring ahead and already handling 30,000 calls each month from customers, having just celebrated its first birthday.
insurethebox started trading in June 2010 when it moved in to Quorum Business Park and has grown significantly to employ 80 people at its Tyne and Wear base and 120 nationwide.
The insurer has made significant in-roads into the UK market by targeting low mileage drivers, particularly young motorists, with low cost insurance. Relying on a small in-car telematics box that measures driving, it allows users to pay for their insurance as they go based on miles driven.
Such has been the success that it is already gearing up for expansion. It anticipates having around 200 employees in 12 months' time as it builds towards capacity at its 14,000 sq ft office.
Jason Tipton, head of operations, said: "I'm very proud of what we've achieved here. We've been very successful in establishing the business and performing beyond our expectations in the first year.
"We have a fantastic location and a great workforce who have done a brilliant job as the face of the company. A number of these are apprentices we're bringing through and people we've retrained."
Location and skills were a big influence on the company's decision to set up here. But perhaps the biggest was the high level of business support and expertise available. Tyne and Wear Development Company was fundamental to this, working closely with insurethebox for several months to ensure the project went ahead.
Jason added: "We wouldn't be here without Tyne and Wear Development Company. They've been a very good friend to us and continue to be very supportive of our future growth plans.
"Ever since the first meeting, when we were thinking of Tyne and Wear as a base, they've been ready to help. They took us to see a wide range of properties before we eventually picked Quorum. Once we made that decision, Paul Buie and his team were instrumental in making that happen as quickly as possible.
"They even helped us with our recruitment drive and in securing a grant from One North East and further support from North Tyneside Council. All of this was crucially important to our success."