Policy count grows
Investment sees Sure Thing! report fourth year of loss
The company, based at Eurocentral in Lanarkshire, saw its policy count rise by 12.8% and now has 76,700 customers.
The operating loss remained fairly flat at £1.8m while revenue fell £1m to £11.4m, in line with forecasts.
Brendan Devine, CEO, 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.”
He said the operating loss and revenue decline are “in line with our forecasts and plans in just our fourth year of trading.”
He added: “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 build on profitability.”
In the new year the firm will announce measures to grow policy count and revenues.
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.