Having recorded 70% annual growth in the past three years, insurance technology business, The Qdos Group, has been recognised as the private company with the 55th fastest-growing profits in the UK, in The Sunday Times BDO Profit Track 100.
Leicestershire-based, The Qdos Group, is the only insurance firm on the list, and provides a variety of business insurance products and LEI policies. After declaring £7.1m profit at its end of year in December 2017, it climbed into The Sunday Times annual list – which is due for publication this coming Sunday – for the first time.
The Group put much of its recent success down to continuous innovation, a lean business model with a low headcount of just 71, and rapidly scalable solutions.
Seb Maley, CEO of The Qdos Group’s Insurance Division commented on the recent achievement: “Obviously, we’re delighted at being named the UK’s 55th fastest growing private company profit-wise in the past three years. And placing in the top 100 is a testament to the entire team’s dedication to providing innovative insurance solutions day-in, day-out.
“We recognised that to keep pace with the evolving employment landscape, insurance and workplace solutions desperately needed innovating. And so, we invested in researching, developing and building our own solutions, which has contributed to our recent success.
“Our investment and focus on technology has allowed us to maintain a relatively small cost base and headcount whilst driving growth through our online platforms, which we made sure were scalable from the outset.”
“As the only insurance provider on the list, we’re thrilled to represent part of the change our industry is currently experiencing – something which will spur us on, as we focus on building smarter, more cost-effective solutions for the new world of work.”
Richard Rose, partner and head of the Midlands at BDO, the title sponsor of the league table, also commented: “These high-growth, high-energy and highly-entrepreneurial companies will be the difference between success and failure in our post-Brexit economic future. These businesses are playing their part by recording strong levels of revenue and profit growth and by creating jobs. We’d like to see the Government do more to help them by focusing on skills, infrastructure investment and tax simplification.”