Tech drive gives Ultimate Insurance 75% profit growth

Firm nets ‘unprecedented achievements’ on the back of investment in digital technology

Tech drive gives Ultimate Insurance 75% profit growth


By Louie Bacani

Portsmouth-based pet insurance provider Ultimate Insurance Solutions (UIS) has projected stellar growth in the first quarter following a targeted technology drive at its headquarters.
The insurer launched a strategic technology campaign in 2016, which enabled the firm to increase its profit from January to March this year by an estimate of 75%.
Managing director Paul Hampshire said UIC has seen “unprecedented achievements” due to its investment in a team specialising in online technology, which has “significantly” improved efficiency and reduced administration costs.

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“Our online solutions now enable customers and vets to submit claims electronically to further improve the journey and processing time, driving improved data quality for insurers and resulting in better analysis, rating, cost controls and fraud detection,” Hampshire said.
“We have benefitted significantly from focusing on digital and online self service delivery while keeping a more personal service available for those who prefer to use the phone and speak to someone,” he added.
Hampshire said UIC will continue to invest in its in-house system to maintain competitive advantage.

He said the company’s MIS platform is “ready to accommodate further growth in the business while simultaneously getting ahead of the game with respect to the heightened data protection legislation that will impact businesses next year.”

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