Polaris’s imarket hits new high with £322m premium in 2022

Vivek Banga

The number of policies traded on imarket, which connects broker software platforms to insurer systems for the placement of commercial lines, hit a record 497,883 in 2022, Polaris has revealed.

This was a 1.7% increase for the UK insurance industry owned organisation dedicated to support the growth of digital trading.

Premium from imarket’s policies jumped even more increasing 15% year-on-year to £322m.

Managing director of Polaris, Vivek Banga, pictured, told Insurance Age the rise was a function of rate going through the market and digital trading being used for larger risks.

“It is a combination of both,” he explained. “The boundaries of digital trading are expanding consistently

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