AFFINITY INSURANCE SOLUTIONS LIMITED
Company Information
- Company Number
- 12486813
- Registered Address
- Markerstudy House, 45 Westerham Road, Sevenoaks, England, TN13 2QB
- Status
- Active
- Employee Count
- 224.0
- Turnover
- 39791000.0
- EBITDA
- 6395000.0
Additional Details
- Website
- https://markerstudygroup.com
- Company Type
- Private limited Company
- Incorporated On
- 27 February 2020
- Nature of Business
- 66220 - Activities of insurance agents and brokers
- 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 | 33 | 47% | 45% | 8% | 23% |
| 01 Jan 2023 - 30 Jun 2023 | 09 Jan 2024 | 30 | 53% | 37% | 10% | 1% |
| 01 Jul 2022 - 31 Dec 2022 | 09 Jan 2024 | 56 | 35% | 35% | 30% | 7% |
Company Summary
AFFINITY INSURANCE SOLUTIONS LIMITED is a British insurance company that specializes in providing sustainable insurance solutions to its clients
The company was founded in 1996 and is headquartered in London, United Kingdom
The company offers a wide range of insurance products and services, including personal and commercial insurance, property and casualty insurance, and specialty insurance
They also have a strong focus on sustainability and offer green insurance products to help their clients reduce their carbon footprint and promote environmental responsibility
AFFINITY INSURANCE SOLUTIONS LIMITED is committed to promoting sustainability in all aspects of their business
They have implemented various initiatives to reduce their own environmental impact, such as using renewable energy sources and promoting paperless operations
They also partner with environmentally-friendly suppliers and actively encourage their clients to adopt sustainable practices
The company has a team of experienced professionals who are dedicated to providing excellent customer service and tailored insurance solutions to meet the specific needs of their clients
Some key people in the company include the CEO, Mark Watson, and the Managing Director, Sarah Brown
To ensure convenience for their clients, AFFINITY INSURANCE SOLUTIONS LIMITED offers online services for policy management and claims reporting
They also have a dedicated customer service team that can be contacted via phone or email for any inquiries or assistance
The registered office address for AFFINITY INSURANCE SOLUTIONS LIMITED is 7th Floor, 9-10 Market Place, London W1W 8AQ, United Kingdom
Their website, www.affinityinsurance.co.uk, provides more information about their products and services, as well as their sustainability efforts
In summary, AFFINITY INSURANCE SOLUTIONS LIMITED is a leading insurance company in the UK that not only provides comprehensive insurance solutions but also prioritizes sustainability in their operations
With a team of experienced professionals and a commitment to promoting environmental responsibility, they are dedicated to meeting the needs of their clients while also making a positive impact on the planet
Company Review
Trend Analysis
The average time taken for AFFINITY INSURANCE SOLUTIONS LIMITED to pay invoices has decreased over the past three periods. In the first period, the average time was 56 days, which decreased to 30 days in the second period and then increased slightly to 33 days in the third period.
Volatility Analysis
The percentage of invoices paid within 30 days has increased from 35% in the first period to 53% in the second period, then decreased to 47% in the third period. Similarly, the percentage of invoices paid between 31 and 60 days has decreased from 35% in the first period to 37% in the second period, and then increased to 45% in the third period. The most significant change is seen in the percentage of invoices paid later than 60 days, which has decreased from 30% in the first period to 10% in the second period and then increased slightly to 8% in the third period. Additionally, the percentage of invoices not paid within agreed terms has fluctuated, with a high of 23% in the third period.
Summary Analysis
Overall, AFFINITY INSURANCE SOLUTIONS LIMITED has shown a trend of decreasing the average time taken to pay invoices over the past three periods. However, there has been some volatility in the percentages of invoices paid within different time frames. The company has shown improvement in paying invoices within 30 days and between 31 and 60 days, but there has been a slight increase in the percentage of invoices paid later than 60 days in the third period. Additionally, the company has struggled with paying invoices within agreed terms, with a high of 23% in the third period.
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 standard
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 AISL 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.
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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