Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 20th of May 2019
March 6, 2008

Helphire sees 7% rise in profits

by David Masters

Story link: Helphire sees 7% rise in profits

Helphire’s latest results indicate that profits have increased by 7% to £19.4 million.

The accident management company has signed eight new insurer contracts. Revenue for the company increased by 45% to £183.9 million, whilst the average age for a claim fell by 9%.

Mark Jackson, Helphire’s chief executive, said of these latest results: “The UK non-fault accident management market is maturing and all participants in the provision of services to accident victims are now utilising some or all of the services of accident management companies. This includes insurance companies, insurance brokers, resellers of insurance such as banks, legal expense insurance companies, solicitors, car manufacturers and car dealerships/repair shops.

“This has resulted in rapid growth in business in the first half of this financial year with an increase of 41% in the number of cases handled to over 92,000 and a concomitant increase in turnover of 45% to £184m.”

He added that there is a financial incentive for insurers to settle claims properly, and that because of this, discussions regarding accelerated settlement are now underway with 70% of insurers.

 

News posted:



Related stories to Helphire sees 7% rise in profits: