FSP advises HUG HUB on investment from global data analytics firm Verisk
The corporate team at Field Seymour Parkes led by corporate partner Penelope Garden has advised HugHub Limited, trading as HUG HUB, on an investment by Verisk Analytics, a global data analytics and risk assessment firm headquartered in the US.
HUG HUB is a London-based InsurTech firm, boasting a digital platform which consolidates customer information, making it easier for insurers and brokers to manage and deliver products. Verisk’s investment will enhance the services provided by this platform, by granting HUG HUB’s clients access to Verisk’s analytics services, feeding them with information about insurance risk, data management and predictive modelling. The investment will also be used to expand and improve HUG HUB’s development, sales and customer delivery teams.
“We are proud to be part of HUG HUB’s evolution,” said Alex Croydon, managing director, General Insurance UK & Ireland, Verisk, who has joined HUG HUB’s board of directors as part of the investment, “And we look forward to exploring new opportunities to integrate their innovative and customer-centric technologies into our home, commercial and motor offerings.”
“We are delighted to welcome Verisk as a partner and shareholder and Alex to join our board. We have seen a huge rise in focus on digital technologies in our market as firms start to ‘do’ digital transformation rather than just ‘talk’ about it,” stated Jonathan Davey, CEO of HUG HUB. “Our partnership with Verisk and their investment in our business represents a fantastic opportunity for us to maintain current momentum, further expand our business and support our customers both in the UK and overseas.”