GAB Robins chief executive Kieran Rigby said the company was looking to target smaller claims business, as he predicted profits would reach £3m in 2007.
Rigby said the loss adjuster wanted to remain on the panels of the top insurers, but was looking to grow its business and believed success might be found with smaller tenders.
He said: “We may see an increase in the volume in the high frequency low-value claims. We’re not just waiting for big panel tenders.”
His comments came as the company predicted adjusted pre-tax profits would grow to £3m for the year ended
31 December 2007 up from £16,000 in 2005.
Excluding the adjustment for restructuring costs and funding for the pension fund deficit, the company would have reported a pre-tax loss of £2m – against a £4.4m loss last year.
Revenues for 2007 were expected to grow to £36.5m from £35.5m in 2006.
Part of the company’s financial troubles are due to a pension remediation scheme designed to pay off a pension deficit, but Rigby said it would be foolish to attribute all problems to that.
He said: “We didn’t replace our entire senior management team just because of the pension issue.
“We are not where I’d like us to be, but we’re now seeing the benefits of the things we introduced last year.”
Rigby said the company was starting to look at more end-to-end solutions for companies. It would also focus on customer service and surveying development, and was going digital with a new IT programme costing about £1m.
He said: “We want to see the company move to a more customer service company but retain technical abilities.”
Rigby said he had the goal of growing the company’s business by 10% next year.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
