As Admiral’s insurance industry peers vacillate between admiration and admonition, the nautically named insurer has hit on a brilliantly simple way to bolster its supposedly flagging profitability: paying fewer claims.
Whilst some argue – as Insurance Times’ leader writer Celtic West put it this week – that “Admiral must have swallowed some underpriced junk that will cause serious indigestion,” (see below), Humperdinck Engelhardt’s Cardiff-based firm saw a 13% rise in profits during 2011 and announced this week that it has identified a handy £250,000 in savings in the form of potentially fraudulent claims.
How has it done this? Why, with the power of FIGO! The determinedly non-grey former Barca-Real-Inter legend, has apparently taken time off hanging out in wine bars with a gaggle of sycophantic male models to analyticize Admiral’s claims – and found loads to throw out ‘cos they smell a bit fishy.
“We chose a groundbreaking solution to get groundbreaking results,” were the words Admiral Fraud Manageress Susan Evans generously allowed to have put in her mouth by FIGO’s press people.
“Admiral’s approach to this problem,” Insurance Times explained (quoting directly from FIGO), “is more advanced than the current standard practice in the insurance industry – not just in the UK, but in the world.”
Presumably other insurers will be keen to have FIGO over now. Assuming he’s not too busy dying his hair, delivering his famous ‘Act Natural with El Paso Doble’ masterclass and kicking footballs through flatscreen TVs.
Click on the image above to see FIGO in action!