Insurance software house reports increased sales and profits

Turnover at Stockport-based technology firm CDL rose to £55.8m in the 12-month period to September 30, 2018, up from £52.6m in the previous financial year.

Pre-tax profits also increased to £8.6m, from £8.3m the previous year, amid continued investment in developing solutions to enhance consumer experiences of insurance.

During this time CDL has continued to pioneer InsurTech propositions, including investing in its Chorus mobile platform, which incorporates cutting-edge technologies to enable proactive insurance recommendations.

The year saw the continued growth of CDL’s customer base, with more high-volume retailers migrating to its flagship Strata platform, as well as an active projects pipeline.

These included the launch of Hummingbird Syndicate, with major insurance brands joining together to combat fraud by sharing insights into online quote manipulation garnered using the company’s real-time Hummingbird data intelligence solution.

CDL commercial director Nigel Phillips said: “These strong financial results are extremely positive given the more challenging economic and political climate in the last financial year.

“Our success has very much been driven by our people and it’s confirmation that our strategy of investing in our talent base and in research and development is delivering long-term sustainable growth.

“We will continue to focus on supporting our customers to attain competitive advantage through technology and on driving outstanding service levels.”