CEO Mike Srokowski describes the history of Validus from the early days: 

November 2006
The Validus concept conceived.
We spotted some flaws in the way claims were being processed by insurers, and we believed there was an opportunity to reduce insurers’ costs by analysing areas within the motor claims process which could be open to exploitation.

January 2007
Draft concepts sent to one or two motor insurers to determine appetite.
We received a positive response. It was clear that there was a blank space in the marketplace. Nobody was doing this, and nobody seemed to have thought of it either.

January 2007 - December 2007
Preparation and market testing
It took nearly the whole year to map the process and write the software programme. We knew it had to be foolproof.

June 2007
Start up investment completed
It took nearly six months to raise the investment needed to kick start the business. We raised the money from private individuals.

December 2007
Validus opens for business
We opened for business on 4 December 2007 in rented offices in Thorpe Road, Norwich, just across from the railway station, with 15 employees in the Summer of 2007.

April 2008
First Pilot
We agreed our first pilot on 4 April 2008, with our first client who remains with us as a Validus customer to this day. Our first revenue cheque followed in June.

September 2008
Business growth
By September we were analysing nearly 900 claims a month, and that figure grew to 1300 a month by the end of October. At the end of the year, we were up to 33 staff, 18 analysts and 15 support staff.

June 2009
Validus hits 50
June saw us handling over 3000 claims a month for the first time. Staff numbers had grown to over 50; 29 analysts to deal with the month on month increase in claims and 24 support staff. Our offices in Thorpe road were starting to get a little cramped.

January 2010
New offices
Validus moved to purpose-built offices in Princes Street in the medieval heart of Norwich. Our headcount is now 94 and we’re expecting to break 100 very soon.