The latest financial results from Be Wiser show healthy growth, plus a significant investment in tech so that the company can meet future challenges. Here’s the press info for you;
· EBITDA climbs significantly to £2,771k
· Planned cost savings on track with 76% of target delivered to date, a reduction of £1,263k compared to prior year
· Growth in premium income, policy count and brokerage earnings
“I am delighted with the strong progress made by Be Wiser during the last eight months, and I confident that we will meet our year end forecast for expenditure savings and sustainable income growth” – Mark Bower-Dyke, chairman
Be Wiser Insurance [Be Wiser] today announced positive results for the eight months to end January 2020. According to Chairman Mark Bower-Dyke, the improving performance illustrates the success of Be Wiser’s strategy to streamline the business, boost income through growth, and focus on customer service.
He said: “The improvement in premium income, policy count and brokerage earnings we’ve delivered in the past eight months, and our confidence that we’ll hit our full year forecast for 2020, demonstrate our successful focus on ensuring our business is agile and efficient and remains a market leader.
“We have made significant advances in technology to future-proof Be Wiser in an industry going through profound technological change. Our position will enable us to continue delivering our ambitious growth plans in a sustainable way.”
He said a number of areas of focus had contributed to Be Wiser’s improved results:
· Customer service enhancements, which have increased average conversion and retention rates
· Creating stronger partnerships with key suppliers
· Streamlining the business to deliver efficiencies, and reducing overhead expenditure without impacting customer service levels
· Effective lead generation including new advertising and digital marketing
· Strengthening the senior management team
He added that Be Wiser remains committed to ensuring customer and employee satisfaction, having last month earned Feefo’s Platinum Trusted Service Award for consistently delivering excellence.
“This has been a challenging period for the business, but our hard work has paid off. I want to pay tribute to my brilliant and hard-working team for their dedication to Be Wiser, and in particular to making sure our customers receive first class service for their insurance needs.”