InsurE-com made an operating loss of over £4.4m on a turnover of almost £700,000 in 2002. This compares with a loss of £2.7m on a turnover of £1.7m in 2002.
InsurE-com chief executive Jim McGuiness said turnover fell dramatically because a consultancy contract with a Swedish organisation had ended. He said losses grew because InsurE-com bought the source code for its system, incurred development costs and purchased its Tam back office system in 2002.
In 2002, InsurE-com paid McGuiness' consultancy, JMG Consulting, £116,600.
McGuiness said that a substantial investment had been made by the company's major investor, Heracles, to fund future development. Heracles is controlled by John C Head III and M Ivy.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
