Turnover increased from £38m in 2023 to £47m in 2024, marking the seventh consecutive year of double-digit growth, further solidifying the company’s trajectory of sustained success.
• Gross written premium of £161m (30% growth year-on-year)
• Turnover of £47m (23% growth year-on-year)
• Underlying EBITDA of £17m (26% growth year-on-year)
In the year, the business continued to invest in its proprietary technical pricing and retail optimisation platforms as well as its operational capabilities, enhancing the customer experience at every touchpoint. Operational initiatives included the in-housing of the claims function, delivering more granular cost control, greater automation and the richest possible data collection for both claims and pricing.
As part of the company’s next growth phase, it has also added new senior talent to drive performance in a number of key areas, such as supply chain, AI and risk management to ensure strong cost control, enhanced scalability and that customers remain at the heart of every decision during the next phase of growth.
Commenting on the results, Mark Eastham, CEO of Avantia Group, said: “Our 2024 performance reflects the impact of some bold changes we’ve made across our business, particularly in technology development, and how we manage and deliver the claims experience, with our proprietary AI platform gathering data and making decisions across the whole customer lifecycle. By combining cutting-edge technology, AI, and best-in-class claims management, we’re delivering a more efficient and personalised experience that ultimately benefits our customers, whilst continuing to deliver a strong loss ratio for our capacity provider.
“Our strong growth is a clear signal that our strategy is working and that our dual commitment to AI-driven innovation and customer focus is paying off.
“This year marks another step forward in our ambition to become one of the UK’s top 10 home insurance providers. We’re building a scalable, tech-led business that puts customers first – and with new proprietary pricing technology going live at the start of this year, I’m confident in our ability to continue to drive further strong growth in 2025.”