AS a rapidly expanding local business, internet-driven insurance broker iGO4 Limited is delighted to be sponsoring the Peterborough Business Awards and in particular the Large Business award.
Executive director Tom Cooper said: “It is important to promote local success stories and reinforce the benefits that the Peterborough area has to offer to both to companies and employees.”
iGO4 Limited was founded in November 2007 by Tom and fellow director Matt Munro who have more than 40 years’ experience in the personal insurance market. Their goal is to be an evolutionary insurance distribution business.
In July 2008, ahead of full product launch in 2009, iGO4 ran a “test and learn” phase with a simple car insurance product on nine comparison sites. At this stage iGO4 was outsourcing its operations.
At the beginning of 2009, the company launched the Choices range for car insurance - iGO4 recognised that everyone was looking for something different and allowed customers to select the cover level and price that was right for them in a clear, easy-to-use and transparent way. iGO4 was the first company to adopt this approach on the price comparison sites and 25 per cent of customers choose the premium product.
In April 2009, iGO4 Price Comparison Watch, the first aggregator based pricing index was launched in the industry’s major trade publication – Post magazine. On a monthly basis, an extensive set of profiles is put through all price comparison sites and the resulting data gives iGO4 an index comparing top prices across all of the sites and enables them to spot trends, and provide quarterly commentary.
July 2009 saw home insurance added to the Choices product range, replicating iGO4’s success on car insurance.
In December 2009 iGO4 won a major industry innovation award. The judges felt that “the rapid growth and commercial viability of iGO4 gave it the edge.” Winning this prestigious award for its product range topped a successful year that saw iGO4 “come of age” and move successfully beyond start-up mode.
In February 2011, investment was secured to support iGO4’s growth strategy. The company forged ahead with exciting new business plans including the opening of a brand new contact centre in Peterborough. Bringing the operations in-house will ensure absolute agility and an ability to stay one step ahead of the market, whilst delivering value to customers and partners.
The company’s consumer brands are iGO4 Essentials, iGO4 Insurance and iGO4 More.
In July 2011, the Contact Centre opened at Olympus House, Staniland Way, Peterborough – 7,500sq ft of office space ready for expansion. In addition, iGO4 launched a price comparison site for annuities.
Future Plans include iGO4 extending its product range and moving into the partnership arena. In keeping with its progressive culture, the company plans to establish itself as a local employer of choice, and having already secured two partnership deals that go live in November 2011, iGO4 will be growing its headcount from 50 to 100 by the end of 2011, over a year ahead of plan.