Fast forward for hi-tech company (From Penarth Times)

Fast forward for hi-tech company

A PENARTH company has been named one of the fastest growing firms in Wales.

Plymouth Road based Sentinel UK, who produce the Source Insurance software package, have been called the fourth fastest expanding company in the Principality.

This is a major achievement for the firm who ranked sixth in the same University of Wales study last year.

And with a deal struck to generate insurance quotations for Axa, Zurich, Norwich Union and others the company are set to expand.

The Managing Director of Sentinel, Alex McLauchlan said: "Sentinel's growth has undoubtedly stemmed from the tremendous support that we have received from the Financial Services Intermediary market.

We are currently unrivalled in offering both electronic submission of applications and immediate confirmation of cover by e-mail."

As a company Sentinel has been running since 1996 and the 'Source Insurance' quotations software was launched in 1998.

There are more than 2,000 subscribers who are served by Sentinel across the UK this will soon rise to a potential 11,000.

Chief Executive, Andrew Masters who founded the company said: "We will be employing more people in our Penarth office.

The positions will range from computer software engineers to administrative staff."

He added that their building would need to extended to accommodate the extra employees.

The firm was not a software company at first but has emerged as a leading light in the world of insurance software.

At first only a few people worked for what was then and insurance wholesaler but now there are 45.

The present software package deals with more than £8.5 million per annum via the internet.

Users have no need to fill in and sign forms.

Within minutes confirmation of cover can be given including policy numbers.