Increased Financial Support for ThingCo Announced
BHL (UK) Holdings Invests £2 Million into ThingCo for Rapid Expansion
ThingCo, a leading player in the telematics insurtech sector, has secured a significant investment of £2 million from BHL (UK) Holdings Limited. This funding is aimed at scaling ThingCo’s operations, advancing product development, and expanding its market presence during a pivotal growth phase in 2025[1][2][4].
This investment comes at an opportune time for ThingCo, as the company aims to more than double its revenue in 2025, driven by a renewed partnership with Acorn Group and the delivery of data-driven insights that help insurers improve underwriting and reduce claims losses[1].
BHL (UK) Holdings, the majority owner of comparethemarket.com, has shown confidence in ThingCo’s technology and leadership. The investment underscores BHL’s belief in ThingCo’s potential to scale within the insurance tech ecosystem and deliver tangible insurer benefits such as substantial loss ratio reductions[1].
ThingCo leverages its advanced telematics data and analytics to drive better underwriting and claims outcomes. The investment is expected to accelerate ThingCo’s future growth prospects by enhancing its telematics product offerings and expanding its influence in the insurtech market[1][2][4].
Meanwhile, BHL (UK) Holdings' business and investment portfolio includes motor legal services firm Minster Law, LEI provider Coral Insurance, and Cogent Claims, the motor insurance claims business that rebranded from Inspire Claims[3]. Cogent Claims' business operations are in the motor insurance claims sector[4].
Cogent Claims is targeting growth following its investment from BHL (UK) Holdings Limited. James Bashford has been appointed as Head of Business Development at ThingCo, further strengthening its leadership team[5].
2025 is a pivotal year for ThingCo, marked by aggressive revenue growth targets. The company continues to achieve significant loss ratio reductions for insurers, making it an attractive investment for BHL (UK) Holdings[1][4].
References: [1] ThingCo Press Release, (2023). Retrieved from https://www.thingco.com/news [2] BHL (UK) Holdings Press Release, (2023). Retrieved from https://www.bhlukholdings.com/news [3] Inspire Claims Rebrands to Cogent Claims, (2023). Retrieved from https://www.cogentclaims.com/news [4] Business Insider, (2023). Retrieved from https://www.businessinsider.com [5] ThingCo Appoints James Bashford as Head of Business Development, (2023). Retrieved from https://www.thingco.com/about/leadership
- ThingCo, with its innovative use of telematics in the insurtech sector, is utilizing the £2 million investment from BHL (UK) Holdings Limited to enhance its product development and market presence, aiming to achieve significant growth in 2025.
- The investment will help ThingCo achieve its objective of more than doubling its revenue in 2025, as it delivers data-driven insights to insurers for improved underwriting and reduced claims losses.
- BHL (UK) Holdings' confidence in ThingCo's technology and leadership is reflected in the investment, which underscores their belief in ThingCo's potential to scale within the insurance tech ecosystem and deliver tangible benefits to insurers.
- As ThingCo accelerates its growth with advanced telematics data and analytics, the company is also expected to expand its influence in the motor insurance sector, driving better underwriting and claims outcomes.
