Company name: Minster Law
What they do: New-style law firm
The boss: Adrian Christmas, Stuart Ramsey
Latest turnover (£,000): 82,182
Four-year compound sales growth (%): 33
Latest Ebitda (£,000): 4,034
Minster law is a new breed of law firm. In a staff of over 800 people, there are fewer than 50 qualified solicitors. That means, says CEO Stuart Ramsey, that, “we have been able to deliver efficient service to clients by not having to layer in lots of solicitors into our business.”
The firm primarily deals with motor accident claims, both in terms of the initial capture of the claims (ie the initial call from the claimant), and dealing with any subsequent injury claim that may arise.
Ramsey estimates that over two million policyholders would have their claims directed to the firm in the event of an accident, many of whom have brought their insurance through high street brands. Ramsey credits growth to the “acknowledgment by brands that we are very good at what we do.”
The firm continually invests in IT, processes and people to improve speed and efficiency of service, and has “put a lot of time and effort into producing career paths for individuals,” he says.
Turnover is currently £82m up from £63m the previous year, but the hope is to get as close to the golden £100m mark by year end.
The Hot 100 2012 is brought to you by Investec, Jordans, Cass Business School and Your Business Your Future.
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