The company was an established brand offering competitive, telematics based car insurance for younger drivers. Like many of their competitors, they had achieved accurate risk profiling by recording the driving style of each individual driver, rather than penalizing them based on their age. The company had experienced considerable success by rewarding careful drivers in unique ways that improved customer loyalty.
On paper, the company looked like an attractive proposition for investors. It had a proven business model and strong financial forecasts. The investor asked the company to provide an independent validation of their position in the market and future growth potential.