Business

Prestige Insurance Holdings announces £3m investment

The group will also launch a new digitally-led broking brand, called Stroll, in early 2022.

Prestige Insurance Holdings, a Northern Ireland group of insurance businesses, is investing over £3m and creating 60 new jobs to expand its digital capabilities.

The insurance group is set to launch a new digitally-led broking brand next year with new technical, product management, customer support and marketing roles. 

This will be available in Belfast, Newry and Derry (Londonderry), and it will allow for remote working opportunities.

Meanwhile, Prestige Insurance Holdings provides 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, and the acquisitions of Open and Direct from Swinton Group, and 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 digitally-led broking brand, Stroll, coming to market in early 2022.”

Brian Allen, managing director of Digital at Prestige Insurance Holdings Limited, added: “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.”

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