Sure Thing Insurance to Launch MGA

It has been another successful year for Sure Thing! Insurance Services Limited, as the broker reports a burgeoning policy count, further award wins and the launch of a Managing General Agent (MGA) in the coming months.

During 2017/18 the company, based at Eurocentral in Lanarkshire, saw its policy count rise by 12.8%, with GWP rising slightly to £32m, following a strategic decision to write more lower premium policies in order to grow overall policy count.

The company now has 76,700 customers and, in its fourth year of trading, saw operating loss remain fairly flat based on 2016/17’s results, at £1.8m.

Brendan Devine, CEO at Sure Thing!, said: “In 2017/18 we have continued to invest heavily in the business and build on our strong foundations for growth.

“We are very pleased to see such an uplift in our policy count given our strategic move to focus on increasing these numbers, and our operating loss and revenue – which was down £1m to £11.4m – are very much in line with our forecasts and plans in just our fourth year of trading.

“We have concentrated on ensuring we are lean, streamlined and nimble, looking carefully at cost savings, chiefly through less new business volumes and significant policy growth from the renewal book.

“As we look ahead to the year ending March 2019, we are on track to further increase our policy count and GWP, and build on profitability. In early 2019, we will launch our own MGA, Stabilis MGA Ltd. This will give us the control to grow policy count and revenues even further, as well as complementing the existing broker panel and diversifying the portfolio.”

In 2017/18, Sure Thing! has continued to refine its industry first Dash Cam insurance and has seen huge success in this area, and has also increased distribution for its van insurance, which launched in 2016.

During the financial year Sure Thing! has also picked up a host of industry award wins, being recognised by the industry and customers alike, winning Marketing Campaign of the Year at the Insurance Times Awards as well as Overall Broker of the Year at the Insurance Choice Awards.

Brendan continues: “It is wonderful to be recognised by the industry with these awards. This confidence from the sector underlines our achievements in staying one step ahead in terms of offering a low-cost, chiefly digitised and data-driven service, without compromising on providing a fantastic customer experience.

“Our customer service continues to be something we are very proud of, with 95 per cent of customers stating they would recommend Sure Thing! to friends and family, and a Reevoo score of 8.9 out of 10.

“This is testament to the hard work of our outstanding team here and their commitment to our ambitious growth plans, which continue to go from strength to strength.”

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