In the first half of 2023, Winn Group reported positive financial performance, building on the success of the preceding year. The company attributed this growth to both organic expansion and the establishment of new partnerships with insurers. Founder and executive chairman Jeff Winn commended the team for maintaining exceptional service levels to business partners and customers.
Winn Group disclosed agreements with 50% of the motor market, a notable increase from the 25% reported in the same period in 2022. While emphasising the focus on strengthening existing partnerships, chief executive Chris Birkett expressed openness to strategic acquisitions, particularly in areas like the credit hire sector.
The company’s achievements occurred against a backdrop of challenges in the claims supply chain, particularly in the motor sector. Birkett highlighted concerns regarding government interventions affecting fees, disbursements, and practitioners leaving the market. This will potentially hinder access to justice for citizens involved in accidents.
Addressing technological advancements, Winn Group invested significantly in the first half of the year. Partnerships with Contact Systems, Toca, and Palladium underscored the commitment to leveraging technology for growth and efficiency. These collaborations resulted in the implementation of the Puzzel customer service platform, improvements in handling duration and claims processing, and exploration of AI-based technology in accident management.
In the realm of Environmental, Social, and Governance (ESG), Winn Group reaffirmed its commitment to environmental sustainability. Initiatives like “Bike2Work” and “Metro Train Saver” were implemented to reduce emissions. Additionally, the company increased charitable donations and took steps to address and reduce the gender pay gap within its business.
Founder Jeff Winn expressed optimism about the company’s future, emphasising the importance of protocol agreements and trust with business partners. Chris Birkett echoed this sentiment, emphasising the need for continuous innovation in the industry and the role of technology in strengthening the business.