Rush Insurance made a profit after making a loss during the swine flu.
In its most recent financial year, the insurer made a profit of more than a million dollars even though it made a loss of over a million dollars.
It is forecasting another record year for the year of 2023, with turnover rising to more than $9 million and a profit of more than $1 million. The financial year ends on June 30.
The first quarter of the current financial year is smashing it out of the park, according to Jeff Rush, chief executive.
He said thatturnover is up 54.5% to 2.5 million and profits are up 25% to 225,000 in the first quarter of this year.
He said there was a restructure in early 2022, a focus on excellent customer service, and partnerships with the trade, which helped to turn around the business.
The in-house IT team had been replaced by a large out-sourced facility.
The firm was able to move revenue- producing, profitable tasks and projects forward much more quickly and accurately than before.
He said that the finance team left around the same time to be replaced by a very experienced, high-quality, forward- thinking finance team that brought about better accounting solutions to support swifter, more accurate forecasting and decision making.
The company had the equivalent of 12 full-time roles pre-pandemic, but now it has nine, along with consultants supporting IT, HR, regulation and compliance, which leads to lower costs and increased turnover.
The Hays Travel team won a contest.
The revival of the travel insurance market is good news for agents.
Rush has extended its partnership with Hays Travel for another five years.
Brooklyn Travel is the parent of brands such as Stewart Travel.
The Travel Independence Group, The Travel Network Group and Protected Trust Services are affiliates of it.
The acquisition of Thomas Cook shops by Hays Travel was praised by Rush.
The company will be looking at the option of apprenticeships in the future as they have worked well in the past.
Jazz Preece has been promoted to the position of business development executive.
She has been leading the Rush Insurance customer care centre for the past three years while supporting Louise and Jeff.
Training sessions with agent partners can be either online or face-to-face in stores, which is one of the responsibilities of Bates.
A senior customer care executive has been appointed to oversee the in-house customer care centre and the company is interviewing for a new team member
Rush commented on market trends, saying that insurance conversions hit an all-time high immediately after the swine flu outbreak.
The proportion of travellers who don't take out insurance has returned to this year.
A single trip costs more than £80 on average, up 16% from the previous year, and an annual policy is rising 12%.
Rush talked about the importance of five-star ratings and high-profile awards in the bounce back from the Pandemic.
The experts have done all the hard work when it comes to researching for a quality travel insurance policy, which is why it is important to showcase these ratings.
Excellent customer care and service is provided by the customer care team.
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