Outsourcing
Capital return to shareholders on the Quindell agenda
Quindell non-executive chairman Richard Rose has outlined the firm’s approach towards a capital return that will see shareholders receive at least £1 per share in a cash handout funded by the sale of its professional services division.
MGAA launches outsourced claims procurement guidance
The Managing General Agents' Association has today published best practice guidelines for its members covering the procurement and management of outsourced claims handling services.
Insurer uptake of cloud on the up despite continued legacy issues
Two fifths of insurers are still allocating more than 70% of their technology budget on non-discretionary or run spend, rather than projects that might allow them to innovate and change their businesses.
Quindell shareholders to seek compensation under Financial Services and Markets Act
Quindell is expected to announce "significant restatements" of accounting policies, along with write-downs on a number of companies bought in the 2013 to 2014 period, according to the lawyer coordinating a shareholder action against the firm.
Interview: Derek Coles: Out of the shadows
Ryan Direct Group CEO Derek Coles is ready to come out from under the radar at a company that has grown from 45 people to 475 under his stewardship.
Polish ECJ referral reignites possible UK liability to EU VAT on outsourcing
A case referred by Poland to the European Court of Justice is expected to reignite the UK insurance market’s potential liability to EU VAT on its back-office administration, which could cost the industry millions.
Willis cuts 350 roles as part of plans to save $420m by 2017
Willis is set to shed 350 jobs across the UK as part of its restructuring programme announced last year.
Pen signs property claims outsourcing deal with RDG
Doncaster-based Ryan Direct Group will handle a proportion of Arthur J Gallagher managing general agent brand Pen Underwriting’s property claims after agreeing a collaborative claims management model.
Capita seals three year Hiscox outsourcing contract extension
Hiscox has signed a three year contract renewal with outsourcer Capita Insurance Services.
Quindell founder Terry and two fellow directors exit company
Quindell founder and chairman Rob Terry has resigned from the board of directors with immediate effect.
Capita insurance boss Greatorex to take over as group FD
Capita insurance and benefits services director Nick Greatorex will leave the role next month to take over as group finance director ahead of the departure of long-standing FD Gordon Hurst.
Quindell founder committed to pursuing legal action against Gotham
Quindell will continue to pursue legal action against Delaware-based research firm Gotham City, despite the difficulty given their US jurisdiction, executive chairman Rob Terry has confirmed.
Quindell urged to recruit insurance veterans following LSE listing failure
Analysts question firm’s lack of foresight after highly unusual listing refusal
Quindell hammers out detailed rejection of Gotham allegations
Quindell has issued a detailed repudiation of the “defamatory” allegations levelled at it by Gotham City’s research, including a staunch defence of its compliance with the Jackson reforms.
In Series: Mid-corporate Risks: Taking the risk away
Risk management provides a welcome opportunity for brokers and insurers after years of recession – but they must provide a united front to take full advantage.
Claims company Triton Global announces management changes
Claims organisation Triton Global has made multiple management changes in its claims administration outsourcing company DCS Global.
Ambant launches MGA support firm
Ambant, the Lloyd’s of London and international insurance market services company has launched MGA service provider Ambant Underwriting Services.
Brand analysis: Market Forces
Despite economic constraints, regulation, boardroom reshuffles and reputational issues – the outlook for insurance brands remains positive.
Premex Group reshuffles management team
Bolton-based Premex Group has announced a number of changes to its senior management structure.
Outsourcing: Need a hand?
While some in the insurance industry associate outsourcing with cutting jobs and costs, others are keen to extol its virtues. So when is it right to outsource, and how can it benefit the sector?
Capita puts insurance business up for sale
Outsourcing specialist Capita is preparing to offload its direct to customer insurance businesses following disappointing performance in the division, Post understands.
RSA extends outsourcing agreement wih Accenture
RSA has signed an extension with Accenture for its application outsourcing agreement for another five years to the end of 2020.
In Series: Claims: Problems shared
In a price-sensitive environment, can claims service with an emphasis on communication play a role in retaining customers?
Brit adopts Xchanging’s Fees Direct Plus
Xchanging, the business process, procurement and technology services provider has today announced Brit Insurance as a customer of its enhanced Fees Direct offering, Fees Direct Plus.