PSC Insurance Group aims to build on the momentum created by its strong earnings result last financial year, with net profit almost doubling to $19.7 million.

Tech-driven products such as the online PSC Direct offering for small business operators will take on added focus as the group seeks to meet changing consumer needs.

Last year PSC was “able to provide sound financial returns, consolidate and integrate the acquisition activity… and establish a pipeline of future activity”, MD Paul Dwyer says in the annual report.

“Of particular note are those investments we have made in businesses with a proven online presence in the insurance and financial services sector.

“As with all businesses, technology is changing and will continue to influence the way business is done globally. PSC Direct, coupled with these new investments, will ensure the group is well positioned for change as technological innovation drives future insurance consumer behaviour in certain product categories.”

Revenue grew 24.7% to $84.5 million in the year to June 30. Fee and commission income increased to $77.6 million from $64.8 million the previous year.