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Annual turnover of £52.6 million and pre-tax profits of £8.3 million – these are the fruits of what insurance software house CDL described as its “sustained investment in innovation and infrastructure.”
Reporting its financial results for the 12-month period to September 30, 2017, CDL said annual turnover rose 11% while pre-tax profits went up from £7.4 million. During the same financial year, the technology firm launched its insurtech incubator, which paved the way for its ‘proactive insurance’ concept rolled out last month.
Located in Greater Manchester, the software provider also cited a growing customer base and the completion of the latest development phase at its technology campus.
“These strong financial results are evidence that our strategy of investing for the future is working,” said CDL commercial director Nigel Phillips. “This has been seen in continued demand for our insurer and retailer solutions, together with growing interest in new services and insurtech propositions.
“Continuing with this strategy will ensure sustainable future growth as we forge ahead to increase our share of the insurance retail market.”
Certified by the Top Employers Institute for a second consecutive year in February, CDL employs about 700 people in Stockport.
CDL was named as the Best Insurtech Companies. Read the full 5-Star Technology and Software Providers report here.
