Penn Insure is expanding its operations, moving to larger premises and creating 17 new jobs with Welsh Government support.
The company, which is based in Pontypool, is a specialist insurance broker focusing on the commercial business market. It is investing £400,000 on the expansion which is backed by £186,500 from the Wales Economic Growth Fund.
Penn Insure plans to expand its client base with the launch of a new online/offline service directed at developing more leads and acquiring more business.
Broker Power is a new service from Penn Insure’s existing partners iPrism which aims to “support the local broker” through an on-line comparative commercial quotation website. Broker Power’s main portal will host various trade specific micro-sites.
Each micro-site will house content tailored specifically to the particular insurance type and will allow users to search, compare & purchase insurance via a local broker, taking advantage of their local knowledge & expertise, if needed.
Penn Insure will become one of Broker Power’s listed Regional Brokers, offering knowledge and expertise when required and facilitating the on-going demand of enquiries through the installation of a call-centre hub.
The company has acquired the former County Court building in Pontypool town centre to accommodate the expansion – the building is three times the size of their existing premises.
Economy Minister Edwina Hart, who visited the company last year, said:” Financial and professional services is one of our key economic sectors with high growth potential and I am delighted that Penn Insure – a home grown business which was only founded in 2011- is expanding and creating new jobs. ”
Joe Francis, Associate Director said: “We operate in a niche market and have identified an opportunity to increase our client base and the support from the Welsh Government is enabling us to take this forward now which will give us a competitive advantage.
“We have a great loyal team in Pontypool and growing the business here means we can continue to develop our staff and recruit locally.”
Penn Insure’s new premises opened at the beginning of September. The new premises have been converted and refurbished to create modern office of which will accommodate their current and future growth plans.
Penn Insure is an insurance broker supplying products including Public Liability insurance, Employers Liability Insurance, Professional Indemnity and other Commercial Insurance products provided by a number of leading insurers. The company’s head office is in Pontypool with an additional office in London.