Low interest rates and the Brexit vote have placed a cloud of uncertainty over the profits of many companies. However, despite this, the financial results released from Hastings Group Holdings Plc have proven to be quite eye-catching.
The Insurer has reported a massive increase in revenue and a reduction in costs. Its Gross Written Premiums climbed 25%, from £614.9 million to £769 million, and net revenue jumping from £481 million to £590.3 million.
Hastings Direct have adopted Agile Bridge
Gary Hoffman, Chief Executive Officer at Hastings, noted the firm’s digital capabilities had been a driving force behind its success. He said:
“The world is now digitally led and we’ve created a model that is built to take advantage of this shift throughout the entire customer journey. Whether that’s through the price comparison website distribution of our products (which account for around 90% of our new business sales), our innovative use of data or through our advanced risk selection and fraud detection capabilities.”
This is of great interest to us at Business Agility! That’s because Hastings Direct was one of our first clients to adopt Agile Bridge, a Digital Integration product which enables insurers to introduce digital capabilities with existing back-end systems.
With a changing landscape of increased regulation and growing competition from international markets, insurers have a constant challenge on their hands. Modern systems and efficient processes are crucial to underpin a client-centric approach. It’s one of the reasons we created Agile Bridge in the first place.
Our innovative approach to legacy applications enables a risk-reduced engagement and improved solution delivery.
To find out more about Agile Bridge and what it can do, watch our recent webinar that offers an overview of it – check it out here.