As part of its digital expansion, a Northern Ireland group of insurance companies is investing over £3 million and generating 60 new employment.
Next year, Prestige Insurance Holdings will launch a new digitally-led broking brand with new technical, product management, customer service, and marketing positions available in Belfast, Newry, and Londonderry, as well as remote working options.
Significant developments in recent years have included a multi-million pound investment by global equity company Capital Z Partners Management, LCC (Capital Z), and the acquisition of Open & Direct from Swinton Group.
Meanwhile, Autoline Insurance, located in Newry, combined with Abbey Insurance to form AbbeyAutoline.
Trevor Shaw, chief executive of Prestige Insurance Holdings Limited said: “As a business with local roots and an abundance of heritage, we have a commitment and passion for growth and market expansion and are continually looking for opportunities to develop our business across the group through acquisition and adding to our talent pool.
“We have strategic growth plans in place to help us continue on the path of building a digital-first, modern and global insurance portfolio, and with a commitment to innovative technology and servicing our network of valued customers, we have a new digital broking brand, Stroll, coming to market in early 2022.”
Brian Allen, managing director of digital at Prestige Insurance Holdings Limited said: “The pandemic has seen an acceleration in the shift towards a more digital world triggered by changes in online shopping behaviours that are likely to have lasting repercussions.
“Digital technology is a new force that is driving big changes in the insurance sector. For us as insurers, the changing landscape of insurance has led to a flurry of technological advancements in the industry, and the way customers interact with us is changing as a result.
“Our customer is savvy, both technically and culturally and they need insurance that works for them. Their time is precious and we want to give them some of that time back by changing how they search for and buy insurance.
“Consumers can bank online, book a taxi and order groceries all with the touch of a button, and the same should be true for buying insurance. We want to take the hassle out of insurance — no more searching for documents in a bottom drawer — everything will all be available in the palm of your hand,” Mr Allen added.
“We’re building an insurance journey that starts where the customer is and gets them to where they want to be, quickly and easily, and we’re excited to bring Stroll, a new brand with all these digital capabilities to the Prestige Group of companies in early 2022.”
AbbeyAutoline, BondLovis, Prestige Underwriting Services Ltd, Octane London Market Limited, Covernet, and Trumo are among the Prestige Insurance Holdings Limited enterprises.
In 2020, Abbey and Autoline joined to form the largest insurance broker in Northern Ireland.
"It (the merger) reinvigorated our image in the market and has significantly broadened our offering," Julie Gibbons, managing director of AbbeyAutoline insurance broker, said at the time of the transaction.
"When both businesses came together, we knew there would be growth. They were complementary to each other rather than overlapping.”
