Growth Story: Allclear Insurance
Sector
Financial ServicesInvestment Date
January 2018Website
www.allclearinsurance.comAt a glance
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9.2 TrustPilot rating
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1m+ Policies placed since inception
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95% 2-year EBITDA CAGR
AllClear is the UK’s leading specialist travel insurance broker for customers with pre-existing medical conditions.
The Business has market-leading expertise in placing insurance for impaired travel risks and operates through direct distribution, white label partnerships, and its own price comparison website. Its proprietary data, accumulated from nearly two decades of experience, enables AllClear to price impaired travel risk more effectively than its competitors and thereby to provide affordable cover for many medical conditions.
AllClear has also expanded into Ireland and Australia. Since inception, the Business has provided cover to more than 1 million policyholders, and benefits from market-leading customer service ratings.
Investment Case
The impaired travel market is growing strongly, driven by the rising spending power of an ageing population and the increasing propensity of that demographic to travel overseas. In addition, AllClear is well positioned to grow given its competitive advantages of excellent customer service and affordable prices.
Growth Case
Investment in the AllClear platform will drive awareness of the AllClear brand, the benefits of using a specialist travel insurance broker, and capitalise on the existing customer database. Management plan to expand the range of products offered to customers with further Synova funding available for accretive acquisition opportunities.
“We are extremely proud of the team and what has been achieved so far at AllClear. The exciting addition of Chris Rolland to the Business, and our new partnership with Synova, will help us achieve our ambitious plans as we target the next phase of growth.”
– MIKE RUTHERFORDCo-Founder - AllClear