Successful first quarter of 2019 for DEFEND INSURANCE GROUP
DEFEND INSURANCE GROUP has closed the first quarter of 2019 with great success. Thanks to the excellent performance of our branches, we have reached € 20.6 million in gross written premium and we registered a record 43,400 insurance policies; a 27% increase compared to the first quarter of the previous year.
DEFEND successfully entered 2019 with a record number of insurance policies registered in the first quarter - over 43,400. An important indicator of our success is our growth across branches. In particular, Hungary recorded a phenomenal 120% growth compared to the same quarter last year and Poland with 77% significantly approached the performance of the Czech branch, which grew by 27%.
We implemented a new policy administration process which is based on electronic signatures via SMS code. This not only reduces the amount of paper documentation, but simplifies the whole procedure both for our clients and partners. As a result, the whole process has become faster and more efficient.
Besides the new administration process, we underwent a complex procedure for switching our main insurer from Lloyd’s of London to Lloyd’s Brussels. It demanded changes not only in insurance documentation, but also in the background such as contracts between DEFEND and Lloyd’s, new co-operation agreements with our partners and their registrations in financial authorities and many other updates.
“The first quarter of 2019 was marked by more legislative and political changes than any business should reasonably be expected to face in such a short timeframe. We are happy to have a team of experienced and very committed people who performed their best. In spite of these significant challenges, we have emerged much stronger, with better, modern products and contracts and more professional documentation - a base we can now build on to develop the business going forward”- says Allan LaGrange, Underwriting Director of DEFEND INSURANCE.
With these changes for the year already implemented, we can now fully concentrate on other improvements. One of them is a training platform for our partners, which will be launched in the upcoming months. This is added value to our partners, which will provide them with quick and simple access to our knowledge and experience.
“Apart from strengthening our ongoing partnerships, we recently entered into many new collaborations, which certainly will bring DIG growth and an even better delivery of products across the region. Together with all main changes done, we are in a better position than ever to enter the next quarter of the year with great optimism and even greater ambitions,” concludes Andrew Quirke, Managing Director of DEFEND INSURANCE.