A specialist type of insurance agent from London have received £109,000 in R&D tax credits for a single claim. Over two years, they have received a great Reality Cheque for £192,000.
The Company have developed a broker system which can be configured to accommodate any type of risk. It allows seamless data gathering, processing and mapping of data which can be accessed by all authorised parties and goes ultimately into Lloyds in a common format. Research and development was performed to allow an unbroken thread transparent through the insurance cycle which is not available in other systems.
This software development enables the Managing General Agents sector of the insurance industry to facilitate a system for processing insurance policies that is massively more efficient than previously possible.