Cornish Mutual reports rapid growth since it started working with Transactor Global Solutions.

In March, the insurer announced a nine per cent increase in gross written premium to £19.2 million in the full-year to September 2012. Profit after tax increased significantly to £2.09 million from £336,221 in 2011 and the company saw Members grow to 24,352 from 23,447 in 2011. After carrying out a tender process in 2010, Cornish Mutual chose Transactor as its new software supplier as it was able to offer the functionality needed to replace the insurer’s existing legacy software as well as a comprehensive ledger solution.

Peter Beaumount, finance director, Cornish Mutual, comments: “We were looking for technology that was up-to-date, scalable and offered a platform for future development. TGSL have proved, as we hoped, to be interested in us as a business and they wanted to help us develop our very customer-focused offering through technology. Introducing significant changes to an organisation is not without risk but our results show that if you choose the right approach you will reap the rewards. We are looking forward to the next phase of improvement at Cornish Mutual and our technology choices have played a big part in the capabilities we are now unlocking as part of that development.”

“As a mutual we want to make it easy for our Members to do business with us. We also want to promote professional standards and reliability. Therefore, we are very conscious of the fact that we need to work with partners who will support our ethos. We are delighted that TGSL has enabled us to introduce significant changes to the business while maintaining service levels to our Members,” he adds.

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