A car insurance company is aiming for more success after expanding its North Tyneside base.
Telematics-based care insurers Insure The Box has officially opened its expanded and improved offices at Quorum Business Park, where it has been since 2010.
Mayor Norma Redfearn joined Insure the Box founder and chief executive Mike Brockman to cut the ribbon to mark the launch of the expanded office space.
Currently employing more than 300 people, the expansion sees Insure The Box take the majority of the space in building Q11 at Quorum, as well as signing an extended lease.
Mrs Redfearn said: “Insure The Box has made North Tyneside home since it started in 2010 and it’s fantastic news that the business continues to value the skills and enthusiasm of the people who live in the area.
“This office expansion marks exciting times.”
Mr Brockman said: “The expansion and the signing of a 10-year lease, is significant on two fronts.
“It gives us the space to grow as we build. Secondly, by taking over additional space in Q11, we have had the perfect opportunity to create a working environment that is truly dedicated to the Insure The Box ethos, thereby creating an engaging and interesting place for our employees.
“We are now able to open up our business to even more talented individuals interested in joining our North Tyneside team as we continue to lead the market in telematics-based insurance.”
Insure The Box is the leading black box car insurance provider among the 17 to 24-year-old age group and holds the largest volume of driving data for the UK telematics insurance industry, harnessing over 3 billion miles of driving data delivered directly from customers’ cars.
It installs telematic boxes in the vehicles of its policyholders, and is able to offer insurance premiums that are based on the driving behaviour of the individual, meaning safer drivers can earn rewards and prove they should pay less at renewal.
Also commenting on the expansion, Fergus Trim, chief executive of Quorum Business Park, said: “It has been fantastic to see the growth in jobs since Insure The Box set up at Quorum in 2010.
“Now taking 50 per cent more space and making a new ten year commitment is a great milestone in the continued success of the business.”