Company SBS Insurance

University Birmingham City University

KTP Associate Jade Watts 

Funding Innovate UK

The project: Using positive “digital disruption” SBS looked to revolutionise jewellery insurance claims leading to key innovations like “printing an heirloom & replacing the irreplaceable”

The challenge: SBS handles insurance claims on behalf of more than 23 insurance companies – including household names like Allianz, Direct Line, Legal & General and Lloyds Bank. 

Claim handling for the jewellery sector has not seen much change in years and is characterised by claims being dealt with slowly, with little innovation in the claims process and poor customer satisfaction. 

The Solution: introducing digital disruption to the process could improve all three of these challenges – as well as increase profit and revenue. The partnership with Birmingham City University has helped introduce CAD into the claims process (enabling rendered images to be used in the claims process) as well as highly sophisticated 3D printing processes with precious metals technology to replicate and replace lost items of jewellery. 

The impact: as well as now being seen by the insurance industry as the “go-to” company for technology innovation, winning it major new contracts, the financial impact of the KTP on SBS Insurance has been extremely positive. Over a three year period:

  • Turnover is projected to increase from £21,500,000 to £26,500,000
  • Profit is projected to increase from £825,000 to £1,175,000
  • Local recruitment to increase from 82 to 92 staff

Want to find out who wins this category of the KTP Best of the Best Awards? Immerse yourself in our virtual Awards Ceremony on 9 September from 4-5pm. Register here.

Do you follow KTP on twitter? If not, do @ktnuk_ktp

#ktpawards

more Insights

Event

Innovation for Growth Series: Agri-Innovation for Food Resilience

12 May, 2022

In collaboration with RAU & Farm491, this event brings together agri-food academics and practit...

Read More
Case Study

KTP between Grŵp Llandrillo Menai and Fifth Wheel Co. unlocks innovation

10 May, 2022

KTP & Made Smarter Series Throughout May, Knowledge Transfer Partnerships is collaborating with...

Read More
Event

Adopting AI in Manufacturing: How to Access KTP Funding to Close Your Knowledge Gap

28 April, 2022

Despite the impact of Covid-19 and Brexit, the UK manufacturing sector showed strong growth ...

Read More
KTP Awards 2022

Which awards are up for grabs? Innovate UK KTP Awards 2022

20 April, 2022

We are pleased to announce that nominations are now OPEN for this year’s Innovate UK KTP Awards. E...

Read More
Event

UK National KTP Associates’ Conference - June 2022

14 April, 2022

Hosted by the University of the West of Scotland, this 2-day conference will be the first in-person ...

Read More
Event

Bristol to Swindon - Business Insights and Challenges

28 March, 2022

This event is relevant for all investable businesses located in the Greater Bristol, Bath, W...

Read More