Having made the transition from insurer to distributor, I’ve now been non-executive director of Absolute Military for 12 months and its non-executive chairman for three months.
The firm is a new and disruptive player in the military market and provides a range of insurance and financial packages and services aimed at military personnel and their families.
It has brokered more than 4,000 financial products in its first full year of trading up to April 2022.
It is also the first omnichannel business in the military market and we have invested in technology for customers to deal with us face to face, through our telesales team, via our website, or by using our app.
Confirmed this week as a Gold status Military Covenant signatory, over half of the team at Absolute Military have more than a passing connection to the military being either veterans, reservists or partners of military personnel.
With a client base typically aged between 20 and 36 years old, uncomplicated and affordable products to address specific needs are needed.
Our clients have a varied understanding of financial products and finances, this is why we’ve produced our own programme to promote financial awareness, partnering with organisations such as Turn2U and Money Helper to provide financial support and advice to those in need.
We will also be launching two further products in 2022 that will challenge current market pricing and modernise policy format.
When the Queen’s speech outlined the need to support consumers by protecting access to cash, the firm acted.
Having secured funding to support the military community with a pilot project for open banking, Absolute Military aims to start its pilot project later in the year in two key military locations.
Absolute Military stands by five values that are the key to its operation: understanding its clients, innovation, making a difference, acting responsibly, and improving vulnerable customer support by partnering with the Turn2Us welfare benefits and grants entitlement service plus the MAPS Money Helper service.
There’s often rhetoric about improving lives and enhancing access across the community. Our investors are giving us the ability to move beyond rhetoric into action.
We’re investing in a way that will make a difference to our community. We’ll ensure that we continue to deliver on our promise of improving financial awareness, capability, access, and resilience of UK Armed Forces personnel.