Prestige Insurance Holdings to invest £3m and create 60 jobs

A Northern Ireland group of insurance businesses is investing over £3million and creating 60 new jobs to expand its digital capabilities.

Prestige Insurance Holdings is set to launch a new digitally-led broking brand next year with new technical, product management, customer support and marketing roles available in Belfast, Newry and Derry-Londonderry, as well as remote working opportunities.

Today’s announcement sees Prestige Insurance Holdings building on six decades of industry foundation and growth, delivering specialist products and services in broking, underwriting and insurtech throughout the UK and Ireland.

In recent years, the Group has seen significant developments including a multi-million pound investment by global equity firm Capital Z Partners Management, LCC (“Capital Z”) and the acquisitions of Open & Direct from Swinton Group, and Newry-based Autoline Insurance to merge with Abbey Insurance and unite as AbbeyAutoline.

Trevor Shaw, CEO of Prestige Insurance Holdings Limited, said: “As a business with local roots and an abundance of heritage, we have a commitment and passion for growth and market expansion and are continually looking for opportunities to develop our business across the Group through acquisition and adding to our talent pool.

“We have strategic growth plans in place to help us continue on the path of building a digital-first, modern and global insurance portfolio, and with a commitment to innovative technology and servicing our network of valued customers, we have a new digital broking brand, Stroll, coming to market in early 2022.”

Brian Allen, managing director of Digital at Prestige Insurance Holdings Limited, explained: “The pandemic has seen an acceleration in the shift towards a more digital world triggered by changes in online shopping behaviours that are likely to have lasting repercussions.

“Digital technology is a new force that is driving big changes in the insurance sector.

“For us as insurers, the changing landscape of insurance has led to a flurry of technological advancements in the industry, and the way customers interact with us is changing as a result.”

Prestige has invested heavily in qualitative research to understand what the customer actually wants from an insurance provider.

BMr Allen continued: “Our customer is savvy, both technically and culturally and they need insurance that works for them.

“Their time is precious and we want to give them some of that time back by changing how they search for and buy insurance.

“Consumers can bank online, book a taxi and order groceries all with the touch of a button, and the same should be true for buying insurance. We want to take the hassle out of insurance - no more searching for documents in a bottom drawer –- everything will all be available in the palm of your hand.

“We’re building an insurance journey that starts where the customer is and gets them to where they want to be, quickly and easily, and we’re excited to bring Stroll, a new brand with all these digital capabilities to the Prestige Group of companies in early 2022.”

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