23. Budget Group

Fee and commission income (2000): £30.6m
Pre-tax profit (2000): £2m

Address:
Budget House
Bretton Way
Peterborough
PE3 8BG
Tel: 01733 845 555
Fax: 01733 845 003
Email: pwinslow@budgetins.co.uk
Website: budgetins.co.uk

History: Budget Insurance started business as a direct writer of motor and household business in 1992. While the file grew in the following few years, the underwriting cycle was particularly difficult and in 1997 it was decided that the group would focus its activities as an intermediary, rather than as a risk carrier. This reinforces the company strategy of trading within all distribution channels

Chief officer: Peter Winslow
Biography: Peter Winslow qualified as a chartered accountant in 1978 and went straight into the book publishing industry. He built up and sold a private niche publishing concern to Harper Collins, where he went on to become chief executive from 1990 to 1994. At 40, he decided on a career change, particularly wanting to focus on call centre-based operations. He joined the Budget Group in February 1995 as deputy managing director and became group managing director in 1997.

Major shareholders: Two South African family trusts
Main lines of business: Personal lines

Number of UK branches: 85
Number of employees (average for 2000): 1,200

Greatest technological advance: A bespoke customer marketing system enabling selection, targeting and value profiling which, when integrated with the main processing database to capture enquiries and sales data, allows marketing efficiency to be maximised.