ORGANIC INSURANCE LIMITED
Organic Insurance help protect business and personal assets by expertly matching people with the right insurance. Their wide range of policies are tailored to various industries and private needs, covering home, health, and family. Organic Insurance are also active members of their community, providing insurance to local charities and sports clubs, and offering sponsorship to support fundraising. They will use the funds raised to hire and train more staff to expand their team and support their growth as a company.
Proactive insurance for the community
We are active supporters of our local Lancashire community. As well as commercial insurance, then, we provide special insurance for not-for-profit organisations, taking into account the importance of keeping costs to a minimum. We also offer sponsorship to support fundraising activities, exemplified by our long-standing support of East Lancs Hospice and their annual Corporate Challenge. Another of our satisfied community partners is the Padiham Football Club, who were looking to reduce their cost of risk; they accredited us for our knowledge of the sector and professional delivery.
We are now looking to raise funds to expand our business further. With the addition of working capital, we will continue to grow as a company, then in turn take on more staff and give them the rigiourous training required. Our aim is to become a leading financial service, which we believe is attainable with your help.
Where will the funds go?
A. 1. Expansion of internal sales team specifically our life insurance department with internal marketing
2. We are working with our network provider to source acquisition opportunities in our space.
3 Geographic expansion to cover nationwide opportunities
A. We have 18 members of staff currently and we would be looking to expand our life insurance team to from 6 to 12 advisors during 2019. We are also looking to recruit within our commercial team this year. Overall we would anticipate total headcount at 30 into 2020.
A. Almost all of our clients both personal and commercial are UK based. In terms of renewal business we have circa £2m in premiums which renew annually on our personal and commercial lines. We are currently expanding at roughly 50% growth YoY. We also have a strong local presence in and around the community of long term repeat business.
A. Historically some late payments.
A. We have a strategic plan for 2019 and beyond within crowd funding and we wanted to work with a company that has an ability for us to engage with investors which would enable us to share our products. Crowdtofund have offered significant support to that end and we had not encountered that before. We have a small amount outstanding with Thincats which we anticipate to be cleared soon.
A. Sure, we changed business model in 2018 where previously we offered network services which effectively permitted other companies to use our regulatory license to offer products under our supervision. The result was a low margin as we passed the majority of income on. Since mid 2018 we have overhauled this and no longer offer network services instead concentrating on our own team which has enabled us although to see a big reduction in t/o however margins and np are significantly higher.
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"Proactive insurance for the community"
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