INSURANCE FACTORY LIMITED
Company Information
- Company Number
- 02982445
- Registered Address
- 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2QB
- Status
- Active
- Employee Count
- 535.0
- Turnover
- 62826000.0
- EBITDA
- 15497000.0
Additional Details
- Website
- https://gogetit.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 24 October 1994
- Nature of Business
- 65120 - Non-life insurance
- Industries
- Financial Services
- Region
- South East
Company Location
Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 35 | 45% | 43% | 13% | 22% |
| 01 Jan 2023 - 30 Jun 2023 | 09 Jan 2024 | 31 | 59% | 31% | 10% | 6% |
| 01 Jul 2022 - 31 Dec 2022 | 09 Jan 2024 | 54 | 37% | 38% | 25% | 5% |
Company Summary
Insurance Factory Limited is a company that specializes in providing insurance products and services to individuals and businesses
The company's main focus is on sustainability and they have implemented various initiatives to reduce their environmental impact
Their sustainability program includes using eco-friendly materials in their operations, promoting paperless processes, and investing in renewable energy sources
They also have a recycling program in place and encourage their employees to participate in volunteer activities to support local communities
The company offers a wide range of insurance products such as car, home, travel, and business insurance
They also have specialized products for classic cars, high-value homes, and niche industries
Their services include personalized insurance advice, claims handling, and 24/7 customer support
The key people of Insurance Factory Limited include the Managing Director, who oversees the company's operations and strategy, the Head of Sustainability, who leads the sustainability program, and the Head of Customer Service, who ensures excellent customer experience
For more information on their products and services, interested individuals and businesses can visit their website at www.insurancefactory.co.uk
The registered office address of Insurance Factory Limited is 45 West Hill, Epsom, Surrey, KT19 8JW, United Kingdom
Company Review
Trend Analysis
The trend for INSURANCE FACTORY LIMITED is positive, with a steady decrease in the average time taken to pay invoices over the past three periods.
Volatility Analysis
The volatility for INSURANCE FACTORY LIMITED is moderate, with a slight increase in the percentage of invoices paid between 31 and 60 days in the most recent period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
standard 30 days
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Dispute Resolution Process
Our purchase ledger team is responsible for identifying and resolving any disputes which may arise between Insurance Factory and our suppliers. If a supplier has a dispute or a complaint, then in the first instance they are to contact the Purchase Ledger team shared inbox for that entity.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available