BIBA Communication
30/06/2010 09:00:00 by Marketing
If you have recently received a communication from Direct Group or Millennium Insurance regarding new exclusive BIBA Committed Payment Schemes please find details below.
How to Buy
This is available via the BIBA branded online Trading Platform, which is an intuitive quote and application process which also produces a Demands and Needs Statement for your client. Click here to register for a user account to access and to start using the free system
Who do I contact for more information?
Millennium Insurance Brokers Ltd. Unit G3 Lacy Way, Lowfields Business Park, Elland, HX5 9DB.
Tel 0844 412 4167
MGA staff offered new roles in outsourcing deal
02/06/2010 09:00:00 by Marketing
Five UK General staff are set to be affected after the underwriting agency signed an outsourcing agreement with Direct Group.
Under the terms, Direct Group will take responsibility for processing non-complex commercial and motor claims. This equates to around 3000 claims a year.
Michael Warren, UK General chief operating officer, told Post that the staff impacted are claims handlers who currently work in Manchester. Under the terms of the agreement they will be offered relocation under transfer of undertakings regulations.
He added: "This is about each organisation doing what it does best. We know that Direct Group is a claims specialist and our experience of them has been good. It is a cost-effective solution, and the policyholder will get a better outcome."
Mr Warren said he believed the employees that decide to move will benefit because they are joining a larger organisation from a claims perspective: "There are far more opportunities there than within a relatively small claims team in an organisation like ours. Geography always plays a part in whether individuals are able to practically move from Manchester to Halifax. It will depend on their individual circumstances and that is what they are all considering now as part of the consultation."
The consultation period started on 18 May and will last for one month.
Mr Warren concluded by reiterating UK General is not looking for a new CEO to replace Tim Rolfe who left the group in March, continuing with Howard Posner as executive chairman.
http://www.postonline.co.uk/post/news/1652135/mga-staff-offered-roles-outsourcing-deal
Direct Group expands further with EVS deal
27/05/2010 09:00:00 by Marketing
Insurance services provider Direct Group, backed by Lloyds Development Capital, has completed the acquisition of Evander Validation Services for an undisclosed sum.
Preston-based EVS is one of three companies in the Evander Group bought from Homeserve in an LDC-funded transaction last September.
Following the latest deal, EVS managing director Colin Jones will continue to lead the division, which provides contents validation and fulfilment services.
It is the latest step in Direct Group's continued expansion which, since it was backed by LDC in 2007, has seen it acquire businesses including Millennium Insurance, a provider of general insurance solutions to the mortgage broker and independent financial adviser market.
The acquisition of EVS also widens Direct Group's portfolio, which includes outsourced insurance administration, claims handling and fulfilment; with products and services spanning property, protection, motor and travel.
Derek Coles, Direct Group chief executive, said: "We have rapidly grown our property and travel claims propositions and the EVS model complements both these areas. This move marks another significant step towards Direct Group's core strategy of delivering wider insurance solutions to our partners."
Mr Jones added: "Direct Group has been actively seeking a route into EVS' space and it became clear that a deal would be a strong cultural and strategic fit for both businesses."
Jonathan Simpson-Dent, Evander Group CEO, concluded: "Direct Group is uniquely positioned to take EVS to the next level and I am confident that this move will be beneficial for our customers and employees."
http://www.postonline.co.uk/post/news/1650505/direct-group-expands-evs-deal
Claims staff transferred to Direct Group to process motor and commercial policies
27/05/2010 08:30:00 by Marketing
UK General Insurance (UKGI) has signed a deal with Direct Group to outsource its non-complex commercial and motor claims, resulting in a number of staff being transferred over.
UK General Claims staff who currently work in Manchester and are affected by the agreement will be offered new roles in Direct Group at Elland, Halifax, under TUPE regulations.
UKGI claims director Nicola Lightowler said the decision was part of an ongoing strategic review aimed at making UK General one of the UK’s leading niche and specialist insurers among independent brokers.
She said the agreement with Direct Group will deliver further efficiencies without compromising service. “Brokers have told us that rapid and efficient claims processing is a top priority for them, and we are confident Direct Group can help us achieve this for our commoditised claims.”
Lightowler said UK General will retain a small team of technical claims experts to deal with all liability and high value property and motor claims.
“Our technical claims experts will now be able to fully focus on these complex claims, which will further improve UK General’s service to brokers in this key area,” she said.
Direct Group chief executive Derek Coles said the agreement built on an earlier partnership deal (signed in February 2009) between his company and Longhawk before the merger in June last year between Longhawk and Primary General to form UK General Insurance.
He said: “We already administer UK General’s claims in the travel, liability, GAP, creditor and property markets, and we are delighted to extend the relationship further by adding non-complex motor and commercial property claims to our claims administration portfolio.”
He added: “It marks the continued development of our strategy to offer a leading multi-product outsourced claims and administration model across a number of markets.”
http://www.insurancetimes.co.uk/story.asp?sectioncode=13&storycode=384661
Direct Group Continues Rapid Expansion
26/05/2010 09:00:00 by Marketing
Direct Group, the fast-growing insurance services provider has completed the acquisition of Evander Validation Services Limited (EVS) for an undisclosed sum.
EVS is one of three companies in the Evander Group which were bought from HomeServe Plc in September 2009.
Following the deal, current EVS Managing Director Colin Jones will continue to lead the rapid growth of the division which has established itself as market leader in the provision of contents validation and fulfilment services.
The transaction is a strong strategic fit for both businesses and adds to the enlarged group’s portfolio which spans product development, sales and premium collection, policy administration, claims management, reporting and performance management.
It is the latest step in Direct Group’s continued expansion which has seen it acquire a number of businesses including Millennium Insurance, a
Combined with organic growth, these deals have seen revenues at Direct Group rise from £8 million in 2007 to around £13 million in the current financial year.
Direct Group is now a leading player in the outsourced insurance administration, claims handling, validation and fulfilment market with products and services spanning property, protection, motor and travel.
Derek Coles, CEO of Direct Group added: “This deal provides Direct Group with an opportunity to further strengthen and add scale to the company. We have rapidly grown our property and travel claims propositions recently and the EVS model complements both these areas. I am delighted Colin Jones will continue to lead EVS focusing on providing exceptional service lead solutions tailored to the needs of its different clients. This move marks another significant step towards Direct Groups core strategy of delivering wider insurance solutions to our partners.”
Colin Jones, Managing Director of EVS, said: “Direct Group has been actively seeking a route into EVS’ space and when they began talking to us, it was clear that a deal would be a strong cultural and strategic fit for both businesses. I’m looking forward to working with Derek and the wider team to take this enlarged and enhanced proposition to market.”
Jonathan Simpson-Dent CEO Evander Group commented: “EVS has been an important part of the Evander Group to date and the team has made excellent progress in rapidly developing the business. Direct Group is uniquely positioned to take EVS to the next level and I am confident that this move will be beneficial for our customers and employees.”
