INSURANCE FACTORY LIMITED
Company Information
- Company Number
- 02982445
- Registered Address
- 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2QB
- Status
- Active
- Employee Count
- 596
- Turnover
- £57,252,000
- EBITDA
- £4,440,000
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, Road Travel
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
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 Jan 2025 - 30 Jun 2025 | 30 Jul 2025 | 52 | 50% | 27% | 23% | 58% |
| 01 Jul 2024 - 31 Dec 2024 | 31 Jan 2025 | 47 | 37% | 40% | 23% | 5% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 36 | 46% | 43% | 12% | 16% |
| 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% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
30 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Dispute Resolution Process
Suppliers are contacted to notify them if there is an issue with the invoice, service or goods. The business representative who ordered the goods/services from the supplier then works to resolve any issue with their contact at the supplier. The supplier can also contact the finance team regarding payment. Disputes will be escalated up the management chain if not satisfactorily resolved.
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
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.
