Could the insurance industry really be better off from a small change?

It’s no secret that old computers will give you a headache. But is there more to this? Whilst identifying industry issues can be helpful, we must ask: What are the benefits of upgrading your computer? 

Tax 

The first, major benefit you get from choosing to upgrade is tax! You can claim a tax relief on the full cost of substantial equipment, for example, a computer, you have to buy to do your work. In fact, because of COVID, all eligible expenses can receive a 130% super-deduction capital allowance. It will allow companies to cut their tax bill by up to 25p for every £1 they spend on IT – or any other qualifying capital for that matter. So, if, for example, you buy a new computer for £2000, you will save £500 on the next tax bill and thus a new computer will effectively cost £1500. 

Improved Culture 

Talent issues are currently plaguing the insurance industry. The lack of available options combined with poor company culture is driving loyal business ambassadors to new pastures. But this doesn’t need to be the case. Practicing what we preach we decided to see just how effective a new computer can be at improving culture. The short story is our dispatcher feels like a new person, our business keeps a loyal employee, and our entire culture is improved. 

Reduced Risk, Reduced Exposure 

The lifecycle of a computer is around 3-5 years, but the warranty can vary. Usually, most manufacturers offer 3 years, however, it’s not uncommon to only have 1. Regardless of the amount, after the warranty has expired the manufacturer is basically saying good luck.

After that lovely send off from the manufacturer you can probably expect: frustrated employees from longer repair times, expensive parts and labour to get your team up and running, time and money spent on configuring temporary hardware solutions, and even more wasted time and money training or hiring new staff because the older ones had had enough. But it doesn’t have to be like this. By extending your warranty you can be guaranteed a speedy repair service (within 24 hours), labour and parts included, productivity with projects being completed on time, and most importantly happy, loyal employees. 

Increased Security 

With updated hardware comes updated security. This is because the longer a piece of hardware has been available to the public, the longer a cybercriminal has to find its weaknesses. By upgrading your computer, you are instantly making it harder for hackers to break through cyber security systems, and believe us, they really try. This year alone hackers have successfully attacked 39% of UK businesses, which is equal to one every nineteen seconds. Then you have the additional worry of the FCA regulations getting stricter towards cyber security. Make the switch, don’t become a statistic!  

Don’t even know where to start? 

Why not begin with Support Tree’s free auditing service! As a specialist IT provider to the insurance industry, Support Tree can audit your desktops (checking the age and warranty), report back the findings, and give recommendations on the most appropriate desktop for each role. Then provide finance and procurement along with a seamless rollout all while you continue to work without disruption. 

Need help with implementing new tech? Maybe you have another problem you can’t solve?