James Noble offers a fresh perspective on an old saying about executives aiming for promotions: engage in a noteworthy pastime to connect with potential business partners. While working as a caddie at Wentworth Golf Club in Surrey, the insurance entrepreneur—who had no prior experience in the insurance sector—found invaluable mentors and investors.

“A round of golf lasts about five hours,” Noble recounted. “At 17 or 18, it’s uncommon to have a CEO dedicate that time to you. But while caddying, I was able to engage in uninterrupted discussions with influential business leaders. Here I was, a teenager assisting CEOs with multi-billion-dollar companies, sharing my ideas in between swings.”

This idea formed the basis of MyFirst, an insurance brokerage aimed at assisting novice and young drivers in securing appropriate policies. Now 31, Noble’s journey began not with the intent of finding investors but pursuing his ambition of becoming a professional golfer. However, his plans changed when he sought insurance for his first vehicle, a Renault Clio purchased for £1,000.

Noble opted to navigate typical price comparison sites, initially searching for the most affordable premium. “I quickly bubbled over with confusion regarding various terms like excess, third party, and comprehensive coverage—my main goal was always to secure the lowest price. I recognized a gap in the market for a brand that could guide new drivers on making informed decisions while promoting safety and skill development on the road.”

This realization marked the beginning of MyFirst in 2016. Fast forward to today, and the company’s gross written premiums are on track to reach £40 million this year, with approximately £4 million in commission and fees.

Parents of MyFirst policyholders appreciate the company’s proactive engagement through telematics technology. For instance, if a newly licensed driver speeds more than 10 miles over the limit, “we contact them immediately, emphasizing the need to drive responsibly,” Noble explained. “Statistically, rookie drivers out with friends have a far higher chance of being involved in an accident.” Additionally, MyFirst rewards safe driving with vouchers for popular retailers. “Our commitment is to foster safer driving habits among younger motorists.”

The concept, which seems straightforward now, was initially daunting to Noble, who navigated the complex insurance sector. His initial discussions at the golf club led to raising £7,000 in 2016, which he used to create a website via GoDaddy and register a trademark. “I drafted a basic three-page business plan from my kitchen in Bracknell and stated openly on the website, ‘We are launching a car insurance brand; feel free to reach out for a discussion.’” His flat’s landline served as the contact number for inquiries.

“Initially, there was silence. After some days, I’d get an occasional inquiry during TV time, always from people confused about their purchases. I clarified that I wasn’t a business yet, but the inquiries encouraged me to explore the idea further.”

Noble began the venture alone before his fellow caddie George Abbott came on board. They balanced their caddying duties with working on MyFirst, continually seeking to connect with underwriting directors for advice. “We were novices in this realm, so we decided to learn as much as possible.” This educational quest led Noble to achieve a Chartered Insurance Institute qualification and understand the necessity of being authorized by the Financial Conduct Authority.

It was a challenging beginning: they needed to persuade insurers of their potential client volume despite having sold no policies, while they couldn’t sell policies without an underwriter. Nevertheless, by late 2016, Noble had secured £150,000 at a £1 million valuation from more golf club patrons, including Premier League goalkeeper Alex McCarthy.

A year later, industry veteran Carl Jones joined MyFirst, impressed by Noble’s vision. While insurers were willing to work with MyFirst, the duo had to operate out of Jones’s Birmingham office. “George and I would drive up weekly, opting for either a low-cost Travelodge or spending the night in the car to minimize expenses, just to be present where policies were issued.”

The founders refrained from taking salaries until 2018, relying on caddying income of £120 a day to cover expenses. As demand surged, partly thanks to McCarthy’s promotional efforts on social media, they gained access to unique prizes for marketing campaigns, such as Yeezys for a promotional raffle. Marketing tactics also included distributing leaflets at colleges and attaching them to learner drivers’ vehicles.

Sales jumped from £30,000 in 2017 to £1 million in just two years. However, the advent of COVID-19 in 2020 dramatically reduced sales to £100,000, as driving test centers were closed, halting the influx of new drivers.

Nevertheless, MyFirst endured and successfully raised £750,000 from angel investors at a £10 million valuation in 2021. One year later, sales soared to £3 million, increasing to £17.7 million last year, with aspirations for £40 million this year. “If we maintain our growth trajectory, we could achieve £100 million by 2025,” Noble expressed confidently. The average insurance policy is priced at £2,800.

Interest has surged from both investors and competitors. Notably, Rob Pierre, co-founder of digital marketing agency Jellyfish—another contact met on the golf course—expressed interest in investing. “I informed him, ‘I don’t need additional funding because we made £1 million in profit last year, even after substantial reinvestment.’ However, Rob transitioned to buying out an early investor, which substantially elevated my pride.”

On the competitive front, notable insurers have shown interest in acquiring MyFirst. “Their motivation stems from our success in attracting young drivers just beginning their insurance journey, but we’re committed to our growth and vision,” Noble asserted.

Now leading a team of 60 at MyFirst, Noble plans to branch into offerings like insurance, credit cards, and mortgages tailored for young consumers. “Financial literacy is a pressing issue in the UK; many 18-year-olds lack basic knowledge about loans and credit. Our mission is to educate the youth of the UK for a better financial future.”