More than 220,000 lives and over 100,000 families and businesses were protected by LifeSearch in the year to 31 August 2020 as profit before tax almost doubled by 47%, according to the firms latest results.
As a result of this increased business and brand engagement, LifeSearch recorded a 10% rise in turnover to more than £47.5m, gross profit was up 7% to more than £11.6m and there was a 24% increase in EBITDA. Profit before tax was £3.5m.
Tom Baigrie, founder and chief executive of LifeSearch, said: “We are very proud of what we have achieved in the last year. It’s the result of significant investment in our people, our brand and in our technology, digital infrastructure and operational efficiency.
West One Bridging business performance up by a third on last year
“We have continued the development of our own brand through social channels and other media, driving 48% more visitors directly to our website over the past year, while our tech and marketing teams have grown at a similar rate as we complete our transition to being most accurately described a ‘fintech scale-up’ in the protection space.
“Notwithstanding significant progress in tech and brand recognition, our people and culture remain our greatest assets, and we continue to invest heavily in improving their skills and developing their careers. I am delighted that this year we have been able to reward our people with the highest ever partnership dividend, paid to every employee after three years’ service.
“A key result of our culture and excellent colleague retention is outstanding customer retention. We invest heavily in ensuring that individuals and families who protect themselves with our help are delighted with the service they receive and this is evidenced by our 5-star rating on Trustpilot and consistently high levels of positive feedback.
“Our strong and dedicated teams, along with our position as the business partner of choice for the UK’s leading brands in protection, enable us to continue to successfully deliver on our purpose as a business – to help financially protect as many families as we can, in the way we know is best for them.”