Lifesearch announce £4.5m gross profit

The protection intermediary recorded pre-tax profits of £752,124.

Tom Baigrie, chief executive of lifeSearch, said: “Our gross profit grew by 37% in a year when many in the protection industry have struggled.

“This has allowed us to invest in improving our advice auditing and customer servicing processes as well as achieving a significant reduction in our policy lapse rates."

Speaking at the annual LifeSearch Protection Awards held in London he added: “We have grown our advice quality management team and now have a significant proportion of our 238 people focused on making sure the advice our 100 plus advisers provide is of the highest standard.

“The end result is that our customer satisfaction rates remain high with a net promoter score of 94% achieved.

“When added to excellent growth in the quantity and quality of our sales, the overall effect has been to improve our core profitability and establish a strong base for our very ambitious growth plans.”

LifeSearch has advised on and arranged over £480m worth of financial protection for partners and customers.