A DUNDEE startup hopes to expand into the US after strong growth in its second year of trading.

Broker Insights, an insurance technology company founded in 2018 by two former Aviva executives, said its revenues had doubled to £2.25 million in the year to 31 January 2021.

The company, which is backed by Scottish games entrepreneurs Chris van der Kuyl and Paddy Burns, said its platform had also doubled gross written premiums, the insurance industry yardstick, to £1 billion.

Founders Fraser Edmond and Iain Crole describe Broker Insights as the first commercial insurance platform that uses market data and analytics to connect major insurers with business opportunities held by regional brokers.

Seven big insurers – Zurich, AXA, Hiscox, Markel, Ecclesiastical, QBE and RSA – are signed up to the platform, along with more than 150 brokers.

“The platform is unlocking value for insurers and brokers by reducing costs and increasing trading effectiveness,” said Mr Edmond, who is chief executive. He said more companies had started using the platform over the last 12 months after seeing the benefits of this “new digital route of engagement” between insurers and brokers.

In April, the company hired a new chief operating officer, Kevin Ord, to help guide the business ahead of what Mr Edmond describes as “rapid scaling” and North American expansion in 2022. Mr Ord has a track record in transforming and growing technology organisations, the company said, having previously held positions in equity-backed companies in the software, ecommerce and digital marketing sectors.

Staff numbers at Broker Insights have grown from 17 to 30 over the last 12 months, with roles added in software development, data science and the commercial team.

Chris van der Kuyl and Paddy Burns are co-founders of Dundee-based games company 4J Studios. Their investment company, Chroma Ventures, is an investor in Broker Insights. Mr van der Kuyl said Broker Insights was one of the UK’s fastest-growing tech businesses and added: “The next phase of major growth will be expansion into the US market.”