Software provider insurE-com will enter profitability in 2004, according to chief executive Jim McGuinness.

Speaking on the release of the company's 2003 corporate review, McGuinness stressed that strong financial backing coupled with an upturn in customer numbers would see the company become "cash positive" this year.

He said: "Over the last two years we have changed our whole revenue model. We are now in a different marketplace in terms of development than we were at the outset."

And although insurE-com has made a combined loss of over £10m over the last three years, McGuinness insisted the company was financially secure. He said: "If we required extra funding there would be some available."

The corporate review highlighted the launch of insur-E.tamCentral, the software provider's ASP system, and growth in all customer lines as the company's key events of 2003.

In 2004, insurE-com has reported growth of 25% month-on-month over the first quarter.

McGuinness said: "Our achievements to date are the result of ongoing dedication, knowledge and skill of our people in delivering innovative solutions that offer our customers choice performance and value."