Under Ielpo’s leadership, Prima has made an impressive start, surpassing growth targets and achieving exceptional customer satisfaction ratings – 4.6 stars on Trustpilot and 4.7 stars on Google. As the company looks to continue its momentum, he shares his insights into Prima’s innovative approach, the competitive landscape in the UK, and what the future holds for the company.

Technology and innovation play a huge role in Prima’s strategy, with roughly a third of your workforce specialising in IT, data, and development. Can you give us an overview of how this focus has enabled such rapid and successful scaling?

Absolutely. To set the stage, let’s look at some key figures that illustrate Prima’s growth. As of 2024, we’ve surpassed 4 million customers — a significant milestone. In our 10th year of operation, we’ve reached a group premium income of €1.3 billion, reflecting a remarkable 47% increase from the previous year. Not only that, but we’ve achieved this while maintaining strong profitability, with an EBITDA of €104 million — an impressive 257% increase from 2023.

For our UK business, while we’re still in the earlier stages of our journey, we’re scaling fast. In 2023, we wrote £19 million in premiums, which grew to £29 million in 2024. And for 2025, we’re targeting nearly £60 million, essentially doubling our premium income in just a year. That gives you a sense of both our scale and ambition.

That’s an incredibly ambitious growth trajectory. But what’s driving it? How has Prima been able to scale so quickly?

 The foundation of our success is, without a doubt, our commitment to technology and innovation. Insurance has traditionally been slow to embrace digital transformation, but Prima has taken a fundamentally different approach—one that is entirely data-driven and technology-led.

Today’s consumers expect more control, transparency, and customization in their insurance products, just as they do in other industries. We’ve built our business model around meeting these expectations. By leveraging proprietary technology, advanced algorithms, and cutting-edge analytics, we’ve created a seamless, user-friendly experience that simplifies insurance for customers.

Pullquote “Today’s consumers expect more control, transparency, and customization in their insurance products, just as they do in other industries.”

At the heart of our approach is a customer-first philosophy. Instead of designing products and then finding customers to fit them, we start with the customer, understanding their needs at a granular level and tailoring our offerings accordingly. This is made possible through our in-house technology stack, which enables us to provide highly competitive pricing while delivering an outstanding digital experience.

This formula has proven successful not just in Italy, where Prima originated, but also in the UK and Spain. Across all three markets, our mission remains the same: offering great experiences and great prices. And with our focus on technology and analytics, we’re confident that we’ll continue to scale at speed while delivering industry-leading customer outcomes.

Europe’s insurance industry is traditionally more static compared to the UK, where customers frequently switch providers to find better deals. Do you think Prima’s success is largely driven by offering something fundamentally different from other companies in the European market?

That’s a great question. What we believe sets us apart is our focus on simplicity and a deep understanding of customer needs. We’re not just offering standard insurance products—we’re constantly adapting, refining, and customizing our offerings based on real-time insights.

One of our key strengths is agility. Prima has built a model that allows us to respond rapidly to changes—whether that’s shifts in customer preferences, industry trends, or even the evolving nature of vehicles themselves. This flexibility has been a major factor in our sustained success over the past decade in Italy and is proving to be just as effective in the UK.

The UK market, as you mentioned, is highly transparent, with price comparison sites playing a significant role in consumer decision-making. Customers are empowered with choices, which creates a more competitive landscape. We see this as an advantage. Our ability to tailor products through data analytics and technology-driven solutions means we can offer highly customized, competitive policies that stand out in a crowded market.

So, whether it’s a market where customers traditionally stay longer with a single provider or the UK, where switching is more common, our approach remains the same: providing customers with the best possible experience and value. And we believe that’s a winning formula in any market.

Prima has chosen to develop its own technology in-house rather than relying on third-party partnerships. While many in the industry are focused on digital ecosystems and external collaborations, you’ve invested in building your own platforms and solutions. Why did you take this route, and what advantages has it given you?

We see technology as absolutely core to how we operate—it’s not just a supporting function, but a critical driver of our success. Because of this, we made a strategic decision early on to own and develop our infrastructure in-house, rather than relying on external partners. This approach gives us full control over the customer experience, pricing models, and product innovation, allowing us to be far more dynamic and responsive to market needs.

We’ve invested heavily in this area, with significant resources going into predictive models and machine learning, particularly in areas like accurate pricing and risk assessment. Having proprietary technology means we’re not constrained by third-party limitations—we can continuously refine and optimize our models to deliver better, more personalized insurance solutions.

To support this, we’ve built a tech-centric workforce, with over 400 full-time employees across development, data science, and UX design. This has allowed us to develop our own software and intellectual property, which is a huge advantage in a rapidly evolving market. But technology alone isn’t enough—you also need a management team that fosters a culture of innovation. That’s something we’re deeply focused on, ensuring that we’re always pushing forward with R&D and improving year after year.

Ultimately, our commitment to proprietary technology is one of the key reasons for our success. It allows us to move faster, innovate more effectively, and deliver a seamless customer experience—all while maintaining full control over our platform. That’s a competitive edge we wouldn’t have if we relied on third-party solutions.

How does Prima’s strategy in the UK differ from its approach in Italy?

The core principles remain the same across both markets—our strategy is fundamentally technology-driven, with a strong focus on advanced analytics, machine learning, and cutting-edge algorithms. These elements are at the heart of what we do, and they underpin our approach in every country we operate in.

That said, launching in the UK has given us a notable advantage—we’ve been able to leverage years of learnings from Italy and apply what has worked best, while also tailoring our approach to the specific dynamics of the UK market. This means that while we benefit from a proven tech infrastructure and data-driven methodologies, we’re also adapting to the unique behaviors and expectations of UK consumers.

A key part of our UK strategy has been ensuring a strong local presence. That’s not just in terms of our management team but also in the way we interact with customers. For example, we’ve built a UK-based, in-house customer care team, which we believe is essential in providing peace of mind and personal support when it’s needed most. While we aim to make insurance as seamless, transparent, and intuitive as possible, we also recognize that there are moments when customers want to speak to a real person. Having that human touchpoint is a crucial part of our UK proposition.

So while the foundation of technology, innovation, and data-driven decision-making is consistent across markets, we are very intentional about adapting to local needs to ensure the best possible experience for our customers.

What trends do you see dominating the European insurance market in 2025?

There are a few major trends we expect to shape the industry next year.

First, increased personalization. Advances in real-time data monitoring, AI, and analytics are accelerating at an unprecedented rate. As these technologies improve, we anticipate more tailored insurance offerings, where policies are dynamically adjusted to reflect individual customer behaviors and risk profiles.

Second, we expect to see a proliferation of data sources. Not only will traditional data points continue to evolve, but new sources will emerge, offering insurers even deeper insights into customer needs. The real differentiator will be how effectively companies harness and apply this data to create better products and seamless customer experiences.

Lastly, data management and transparency will be more important than ever. As digital insurance penetration increases—and even more so in markets like the UK, where online purchasing is already dominant—insurers will need to focus on ensuring customers have full visibility and control over their data. Those who can balance innovation with clear, transparent customer interactions will be best positioned for success in 2025 and beyond.

What do you see as the biggest challenges to growth and success, and why?

One of the biggest challenges we anticipate is market volatility, particularly due to macroeconomic factors and changes within the automotive and insurance industries. These elements can shift unexpectedly, making it crucial for insurers to be highly adaptable and proactive. While some trends can be predicted to an extent, others emerge suddenly, requiring rapid response and agility.

That’s why we place such a strong emphasis on advanced analytics and a flexible technology stack. Our ability to adjust rates in real-time, leverage machine learning for decision-making, and quickly adapt to market shifts is a key strength that helps us stay ahead in an unpredictable environment.

The second challenge is rising competition in the InsurTech space. This sector has seen significant investment and innovation in recent years, meaning the landscape is becoming more crowded. To differentiate themselves, companies need to constantly innovate—whether it’s through product development, technology, or customer experience. Ultimately, standing out in a competitive market requires continuous evolution and a relentless focus on delivering superior customer value.

With significant shifts in pricing and risk across auto and P&C insurance—especially in the U.S. and Europe—how can insurers help protect their customer base when prices are rising?

The key is proactive adaptation through predictive analytics and transparency. At Prima, we leverage advanced predictive models to forecast market fluctuations and adjust pricing in real-time. This allows us to respond dynamically to external changes while ensuring our pricing remains competitive and fair for customers.

Equally important is transparent communication. We believe in keeping customers informed about why changes are happening and how they impact their policies. By maintaining clear and open engagement, we build trust and help customers navigate these shifts with confidence.

Lastly, customer experience remains central to our strategy. We continuously refine our products and services to prioritize customer satisfaction, which is reflected in our high ratings and positive feedback. By staying laser-focused on delivering great value, competitive pricing, and outstanding service, we ensure that even in challenging market conditions, we continue to provide an exceptional experience for our customers.

What new developments can we expect from Prima over the next 12 to 18 months? Are there any big announcements or new markets on the horizon?

 For the UK specifically, our main focus is on doubling our premium income in 2025, targeting £60 million. This ambitious growth goal reflects our confidence in our strategy and the strong foundation we’ve built.

From a brand perspective, we’re excited to continue our successful partnership with the Pramac Racing Team in MotoGP. Last year, we proudly sponsored the team, which made history as the first-ever independent team to win a MotoGP world championship. It’s been a fantastic collaboration, giving us strong brand visibility in key markets, and we’re thrilled to continue this partnership.

On the innovation front, our core focus remains on developing highly accurate pricing models and risk assessments, and on continuously optimizing our products to enhance both customer satisfaction and competitive positioning. We’re heavily investing in advanced analytics and machine learning to refine our pricing strategies and deliver even better customer experiences.

Finally, talent investment is a priority. Building the next generation of innovative insurance solutions requires top-tier talent in technology, data science, and customer experience. As we continue scaling, we’ll be growing our teams to drive future advancements.

So, while we remain focused on our current markets, you can expect continued growth, innovation, and customer-centric advancements from Prima in the months ahead!

What inspires you about the insurance industry today? What excites you most about your role and the work you’re doing?

The continuous evolution of technology is what excites me the most. The pace of innovation has accelerated significantly in recent years, opening up new opportunities that simply didn’t exist before. Being in a business that places technology at the heart of its strategy means we can translate these advancements into real action—delivering highly personalized products, seamless customer experiences, and fundamentally rethinking how insurance operates.

What really drives me is the ability to challenge the status quo—taking an industry that has historically been slow to innovate and reinventing it through data, machine learning, and cutting-edge digital solutions. It’s an incredibly exciting time to be in this space, and I feel privileged to be part of a company that’s at the forefront of this transformation.

Join Prima Leaders at Insurtech Insights Europe 2025

Nick Ielpo will be taking to the stage at Insurtech Insights Europe on March 19th at 10:30am, to participate in the panel, ‘From Ideas to Impact: Streamlining Opportunity Discovery in Insurtech’. For more information on Insurtech Insights Europe’s conference speakers and agenda, visit here.