Father and son Richard and Domenico Davis have launched Octo Insurance Brokers with a target to write £5 million in gross written premiums in its first year.
Four years ago Domenico, 28, launched PropertyMarketIntel to bring a tech-driven perspective to the traditional insurance model.
His background in data science is key to Octo’s growth strategy and client offering, particularly within the property and construction sectors, with the brokerage having access to PropertyMarketIntel’s existing client base of more than 3,000 property investors.
“It’s an exciting time to be bringing Octo to market, we believe it is the future of insurance broking,” he said.
His father, who has more than 40 years’ experience in insurance broking, said: “Between 2006 and 2024, the number of brokers regulated by the FCA fell by 54%.
“As a result, we’re operating in a market increasingly dominated by large, consolidated brokerages where local client service is often sacrificed for scale.”
Octo launches with a team across the UK and has plans to grow both its Glasgow and London offices, as well as its presence in other parts of the country.
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