A travel sector data-driven insurance intermediary has reported a revenue increase of more than 250% in its second year.
TMU Management, created by the team behind travel insurance provider Trust My Group, uses proprietary technology to offer customisable, end-to-end risk management and mitigation solutions.
The company did not provide figures but said revenue is expected to double again in its third year, with further travel-related products set to be offered in 2025.
TMU has equipped thousands of travel businesses with real-time data on their risk exposure since it inception.
This has helped ensure the sector is no longer unfairly deprived of insurance capacity during economic downturns, according to the company.
The firm complemented its core Financial Failure Insurance with two new products this year, aimed at supporting acquiring banks, expanding its reach into fintech and financial institutions.
The diversification has paved the way for future developments, with new travel ancillary products due next year.
Chief executive Sami Doyle said: “In just two years, we’ve demonstrated the power of data-driven risk management in transforming how industries like travel are perceived by insurers.
“Our clients, especially in the travel space, have faced significant hurdles in recent years, and it’s time the insurance industry steps up to offer the protection and consistency they deserve.
“We’re proud to be leading this paradigm shift through technological solutions and are eager to continue pushing forward with new innovations and growth opportunities.”