Latest blogging from Direct Group. http://www.directgroup.co.uk/p/3/ 2010-03-11T15:13:51+00:00 text/html 2009-10-07T09:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/25/ Direct Group focuses on acquisition Direct Group has completed a major debt refinancing to provide further funding for the group’s market consolidation strategy. // The facilities, arranged by Lloyds TSB Corporate Markets Acquisition Finance, will enable Direct Group to capitalise on acquisition opportunities across the sector as well as fund its organic growth plans. As part of the refinancing, Direct Group – which employs 230 people - has also moved its banking relationship to Lloyds TSB Corporate Markets. Last year, Direct Group, which was backed by private equity company LDC in 2007, completed its maiden acquisition of Millennium Insurance, a Midlands provider of general insurance solutions to the mortgage broker and IFA market. In January this year, it took over the claims handling and administration business of MetLife’s UK protection arm as part of a five year deal, followed in April by the transfer of Nexus and Travel Protection Services - the claims administration businesses within Longhawk Group, previously UK Underwriting. The company’s offering now includes market-leading products and services across the general insurance market, including product development, sales and premium collection, policy administration, claims management, reporting and performance management. Derek Coles, chief executive of Direct Group, said: “Our clients are looking to partner with organisations that can support an increasingly broad range of requirements across their personal and commercial lines and across an increasingly complex set of distribution channels and platforms, while delivering consistently high service standards and real innovation. “Since the original management buyout, our strategy has been to deepen our offering to the market, by enhancing and investing in our own service proposition and through the acquisition of complementary businesses. This is paying dividends, with the group reporting a strong pipeline and trading performance in the year to date.” http://www.postonline.co.uk/post/news/1557399/lloyds-backs-direct-group-refinancing-deal text/html 2009-10-06T09:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/24/ Direct Group, the fast-growing insurance services provider, has completed a major debt refinancing to provide further funding for the group’s market consolidation strategy.   The facilities, arranged by Lloyds TSB Corporate Markets Acquisition Finance, will enable Direct Group to capitalise on acquisition opportunities across the sector as well as fund its organic growth plans.   As part of the refinancing, Direct Group has also moved its banking relationship to Lloyds TSB Corporate Markets.   Last year, Yorkshire-based Direct Group, which was backed by private equity company LDC in 2007, completed its maiden acquisition of Millennium Insurance, a Midlands provider of general insurance solutions to the mortgage broker and IFA market.   In January this year, it took over the claims handling and administration business of MetLife’s UK protection arm as part of a five year deal, followed in April by the transfer of Nexus and Travel Protection Services (TPS) - the claims administration businesses within Longhawk Group (previously UK Underwriting).   The company’s offering now includes market-leading products and services across the general insurance market, including product development, sales and premium collection, policy administration, claims management, reporting and performance management.   Derek Coles, Chief Executive Officer of Direct Group, said: “Our clients are looking to partner with organisations that can support an increasingly broad range of requirements across their personal and commercial lines and across an increasingly complex set of distribution channels and platforms, while delivering consistently high service standards and real innovation.   “Since the original management buyout, our strategy has been to deepen our offering to the market, by enhancing and investing in our own service proposition and through the acquisition of complementary businesses. This is paying dividends, with the group reporting a strong pipeline and trading performance in the year to date.”   He added: “The years ahead present a unique opportunity to accelerate that strategy and we’ve been working closely with the team at LDC and their colleagues in Lloyds TSB Corporate Markets Acquisition Finance to put a financial structure in place to support that vision for growth.”   Ray Stenton, Director of LDC – which invested £21.3m in the business to support the management buyout - said: “There is a growing number of good quality assets coming onto the market, both independents and disposals from larger corporates, who need to build scale and depth in order to compete. Direct Group has the infrastructure, reputation, business model and strength of management to emerge as the market leader in fast-consolidating sector.”   Debt facilities were arranged by Mark Blower, Director of Lloyds TSB Corporate Markets acquisition finance.   Mark Blower said: “Through the combined support of the Lloyds Banking Group, we’re keen to ensure Derek and his team have the financial support to deliver their growth strategy.”   The refinancing follows several investments by LDC in the insurance support services market, including an £11million investment in the management buyout of Homeserve Emergency Services, a provider of home emergency fulfilment services, earlier this month (24 September).   In June, the private equity firm also backed the £19.95million management buyout of Ansa and Independent Inspections, both market leading providers of claims validation, management and fulfilment services on behalf of leading insurance companies.   Legal advisors to LDC and management were DLA Piper (Neal Shepherd).   Issued on behalf of LDC by Citypress.   Press information: Martin Currie, Citypress T. 07976 291532 / E. martin@citypress.co.uk     Direct Group notes to Editors: 1.Direct Group aims to be a leading insurance services provider to the UK financial services marketplace. This vision is based around a philosophy of “treating customers and partners as we would expect to be treated ourselves”. The high quality of service offered by Direct Group is supported by a scalable and robust business platform which not only provides Clients’ and Insurers’ with unparalleled quality of management information but also provides the basis for expansion into new products and new market sectors. 2.Direct Group currently operates on a business-to-business basis by offering products to financial institutions, corporates and affinities plus a range of servicesacross the insurance industry. The services typically offered by Direct Group include product design, account development and training, policy administration, premium collection, claim handling, sales and service, insurer and captive reporting. 3.Direct Group Limited is authorised by the FSA no. 307332.    LDC notes to Editors: 1.LDC (Lloyds TSB Development Capital) is part of the Lloyds Banking Group and is authorised and regulated by the Financial Services Authority. 2.LDC has, since 1981, completed over 400 investments, has ongoing interests in over 60 businesses across the UK. 3.LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions. 4.LDC invests in a broad range of sectors and has particular experience in financial services, healthcare, industrials, IT & software, leisure & media, retail & consumer, and support services. 5.LDC is the leading private equity company in the UK mid-market. Recent transactions include investments with 1ST – The Exchange, Ansa / Independent Inspections, Cranswick Pet & Aquatics, Modelzone, Nuclear Engineering Services Limited, Quantum Specials, and Snell Limited plus exits from ATP, ghd and Telecom Service Centres. 6.LDC has fourteen offices – Aberdeen, Amsterdam, Birmingham, Bristol, Edinburgh, Hong Kong, Leeds, Liverpool, London, Manchester, Newcastle, Nottingham, Reading and Southampton.         7.For further information, visit www.ldc.co.uk.   text/html 2009-10-05T09:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/23/ Following the recent successful launch of their new fraud screening product ‘Validate’ on Travel claims, Direct Group has expanded the solution into Protection claims. This has proved beneficial, helping their Investigation services team, (DGIS) make an average saving of £2,800 on each claim investigated in respect of Accident, Sickness and Unemployment claims in the last 12 months. While focus has always been given to validating new claims, Direct Group Investigation Services (DGIS) have also deployed the solution to ongoing accident, sickness and unemployment claims in an attempt to combat those who unnecessarily delay their return to work, as they believe insurers are not likely to investigate further once the claim has been accepted. John Baldock, Head of Investigation Services at Direct Group comments “Our Validate product has been an instant success within Protection claims, in validating both new and ongoing claims we have shown our solution to be an effective alternative to traditional methods of field interviews and surveillance, which can both be costly and practically in-flexible, often unnecessarily delaying the claims process. Our solution can be deployed straight away, and in many cases has achieved better results than traditional methods”  “We have shown our solution to be effective in reducing claim durations, particularly on those claims where, although accepted correctly in the first instance, the claimant has actually returned to work without stopping their claim, or in a number of cases they are not actively looking to return to work and are attempting to prolong their claim payments wherever possible. We believe that these exaggerated claims are a major area of claims leakage, which can be effectively combated by deploying ‘Validate’. While acting as a wake-up call to unwise or dishonest claimants, our validation process serves as a welcome review and support call to genuine claimants looking to return to work.“ said John Baldock Developed in partnership with the global actuarial consultancy EMB, the ‘Validate’ product, embraces world class behavioural science and proven technical claims skills into a software solution. This allows DGIS investigators to conduct Interactive Telephone Interviews (ITI) to screen and identify genuine claimants for fast tracking, while filtering out potentially fraudulent claims with Rating and Scoring.  Using the technology provides a unique on-screen scripted telephone interview process directly with the end customer, which uses Criteria Based Content Analysis (CBCA) to assess the plausibility of statements. This results in a rating and score for each case being produced at the end of each interview. The product greatly reduces the reliance on traditional methodologies, is more cost effective, faster and is without detriment to savings or customer experience.  Direct Group’s focus on cost-effective investigation solutions is supported by savings of £24 for every £1 invested with DGIS in the last year and as a result DGIS are in a number of discussions about rolling the product out to a wider audience. – Ends – For more information please contact: Chris Morgan at Direct Group on 01302 380464 or at chrismorgan@directgroup.co.uk NOTES TO EDITORS: About Direct Group Direct Group are a leading Insurance Solutions Provider operating within the UK Financial Services Marketplace delivering insurance products and services downstream to Brokers, Intermediataries, Retailers, and Finance Companies as well as upstream, by providing bespoke outsourcing services to a range of Insurers. Since their foundation in 1990 Direct Group has expanded its services across a range of product areas, including: Motor, Household, Casualty and Life, providing their clients with an end-to-end service provision from point of sale solutions through to administration, premium collection, claims handling and fraud investigation services. Recent acquisitions have brought further expansion in Liability, Travel and Event claims. text/html 2009-09-22T12:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/22/ Direct Group Investigation Services (DGIS) are pleased to announce that budgeted savings for insurers for the period January to August 2009, were well ahead of plan. The savings were achieved across Travel, Property, Protection and Motor claims, with impressive counter fraud performance on work where DGIS was directly instructed by external clients, with activity continuing to grow on the back of this performance.   John Baldock, Head of Investigation Services at Direct Group, commented “This demonstrates the success of the Direct Group’s counter fraud programme across all of our business lines. All claims handlers have contributed by referring suspicious claims activity to their Counter Fraud Champions (CFC) and then onto the DGIS investigation specialists.    DGIS have made significant savings on both large individual cases and many smaller examples.   “The team has successfully demonstrated that irrespective of claim size, substantial savings can be made by applying techniques suitable to the case in question and with appropriate consideration given to cost, thus ensuring that there is a clear benefit in deploying our services.”     “The team are committed to implementing effective investigation solutions on complex and technical claims demonstrated by the above success.” said John Baldock.   For more information, please contact John Baldock at Direct Group on 0751 5975696 or johnbaldock@directgroup.co.uk    text/html 2009-07-01T09:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/21/ EMB announces new venture with Direct Group to spectacular effect on travel claims investigations           EMB has worked with Direct Group to produce and launch Validate, a new claims fraud screening software package which is demonstrating the extent to which the financial climate in the UK is taking its toll on holiday plans and spending.   “Following the introduction of EMB Validate software, we are already recording average savings of £400 per claim on travel claims. This represents an excellent indication of the further success we expect as we expand the service across our other product lines” said John Baldock, Head of Investigation Services at Direct Group.   Direct Group Investigation Services (DGIS) has begun using the EMB Validate software, which uses criteria-based content analysis (CBCA) to assess the plausibility of statements, not only on pre-selected travel claims but also on wedding, motor, creditor, and personal lines property claims. EMB Validate runs on a secure web portal and is being used to assist and support Direct Group’s specialist investigators to conduct interactive telephone interviews, thus providing a prompt and more cost-effective solution in combating fraud on lower value general insurance claims.   DGIS’ specialist investigators provide a range of investigation solutions from technical desk based assessments, including interactive telephone interviews, to a wide range of focussed field investigations, all of which are supported by a comprehensive range of research and analysis tools.   “In working with EMB to create Validate, we have a vital addition to the DGIS investigation tool kit which allows us to offer a unique and integrated claim solution, to our clients,” said Derek Coles, CEO of Direct Group   He added that the “EMB software uniquely produces a print out of the telephone interview with a risk assessment rating and score to support ease of decision making. This has helped to reduce the life cycle of claims and cut the cost of investigations.”   EMB Validate works by providing a scored and consistent scripting routine for identifying potential inconsistencies in claimants’ statements such as the structure in which they recall events, superfluous or excessive details and the context in which they put the incident or incidents behind the claim. This is based on academic methods that were originally applied to test the credibility of child statements in sexual abuse cases.   Mark Jones, a financial crime consultant at EMB, said: “Validate permits genuine claimants to be identified and reimbursed more quickly. At the same time, it means that the efforts of Direct Group’s investigation team can be directed far more cost-effectively.”   On average, he said that the automated questioning structure should reduce call handling times by 30% while engagement rates for investigation teams could typically be cut by 25%.   Notes to Editors   About EMB Established in 1993, EMB (www.emb.com) is a rapidly growing international consultancy firm specialising in non-life insurance. Covering personal lines, commercial insurance and the London Market, its services include Business Consultancy, Actuarial Consultancy, Investment Consultancy, Professional Development, Marketing Sciences and Software. EMB pioneered the development and use of high performance actuarial software using modern desktop PCs. The range is unrivalled, making it feasible to perform tasks that would otherwise be impossible, impractical or hugely time-consuming. Headquartered in the UK, EMB employs more than 300 people around the globe covering Americas, Asia-Pacific and Europe, Middle East & Africa with clients that include 28 of the top 30 non-life companies in the world.   About Direct Group Direct Group are a leading Insurance Solutions Provider operating within the UK Financial Services Marketplace delivering insurance products and services downstream to Brokers, Intermediataries, Retailers, and Finance Companies as well as upstream, by providing bespoke outsourcing services to a range of Insurers. Since their foundation in 1990 Direct Group has expanded its services across a range of product areas, including: Motor, Household, Casualty and Life, providing their clients with an end-to-end service provision from point of sale solutions through to administration, premium collection, claims handling and fraud investigation services. Recent acquisitions have brought further expansion in Liability, Travel and Event claims.   For more information, please contact: Graham Whitehead at EMB: Tel: 01372 751060                          Email: graham.whitehead@emb.com                             Web: http://www.emb.com      John Baldock at Direct Group: Tel: 0751 5975696 Email: johnbaldock@directgroup.co.uk Web: http://www.directgroup.co.uk     text/html 2009-02-02T12:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/20/ Longhawk Group is delighted to announce the transfer of its Nexus and Travel Protection Services (TPS) claims administration services to Direct Group as part of an ongoing commitment to improve service.    Claims administration in Nexus and TPS covers a broad skill set across a wide range of products within the property, travel and liability market. This includes specialist teams handling schemes for Social Housing, Let Property and Wedding insurances. In addition, the Nexus team has significant industry experience of Employers and Public Liability, Professional Indemnity & Legal Expenses claims handling.   Howard Posner, Chairman of Longhawk Group said: “This partnership with Direct Group offers a quality claims service - a crucial part of any successful insurance business. The transfer offers Longhawk Group and our customers enhanced service standards, drawing upon Direct Group’s wealth of experience in claims administration and their enhanced systems and processing capabilities.”   Derek Coles, Direct Group’s Chief Executive Officer commented: “The transfer of Nexus and TPS strengthens our existing relationship with Longhawk Group and provides us with a platform to grow services in the Travel and Liability markets. It marks the continued development of our strategy to offer a leading multi-product administration model across a number of markets."   “The team of highly experienced claims professionals at Longhawk Group,headed up by Graeme Bell, will enhance and strengthen Direct Group’s operations from which we can further develop the services and offering, to benefit Longhawk Groupand its customers. I am obviously delighted to welcome Graeme and the two teams into Direct Group.”        Notes to Editors  Longhawk Group   Operating from offices in Leeds, Norwich and London, Longhawk Group is a leading independent provider of specialist insurance solutions generating premiums of over £150m from a large range of products. Formed in 2002 the company is part of the Primary Group of companies.   Longhawk, which recently rebranded from UK Underwriting, has a unique combination of expertise, people, systems and access to underwriting capacity. Commercially innovative, technically agile and highly market-aware, the Group is able to leverage industry-leading expertise in partnership with some of the largest retail and consumer brands in the UK. Our own direct channels deliver high quality, carefully tailored, regulatory-compliant and sustainable specialist insurance products to end-customers. The current portfolio includes travel, property, legal, warranty, automotive-related and other specialised niche products. Longhawk will continue to expand as we identify further opportunities, secure new partners or acquire new businesses in the future.   UK Underwriting Limited is authorised by the FSA no. 310101.   Direct Group Direct Group has grown rapidly since its launch in 1990 and was subject to a management buyout in August 2007; the management team acquired the business with the backing of Lloyds Development Capital and Barclays Bank.  This deal has been the launch pad for rapid growth for Direct Group as it on track to treble over the next three years through acquisition and organic growth. Direct Group has worked with Longhawk Group (under the UKU brand) for the last 2 years on the area of property claims.    As a Managing General Agent (MGA), Direct Group aims to be the leading insurance services provider to the UK financial services marketplace. This vision is based around a philosophy of “treating customers and partners as we would expect to be treated ourselves”. The high quality of service offered by Direct Group is supported by a scalable and robust business platform which not only provides Clients’ and Insurers’ with unparalleled quality of management information but also provides the basis for expansion into new products and new market sectors.   Direct Group currently operates on a business-to-business basis by offering products to financial institutions, corporates and affinities. The services offered by Direct Group include product design, account development and training, policy administration, premium collection, claim handling and sales, insurer and captive reporting.   Direct Group Limited is authorised by the FSA no. 307332.   For more information please contact Finance Director, Michael Warren on 07768 033380 michael.warren@ukul.com       text/html 2009-01-07T09:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/19/ MetLife’s UK Protection Business, MetLife Limited and MetLife Insurance Limited, announced today it had reached agreement with Direct Group to transfer its administration and claims handling activity to Direct Group in a 5 year deal as part of its ongoing plans to develop further in the UK market. The administration contract will cover a broad range of protection based products including Mortgage PPI, Credit Card PPI, Income Protection, Loan PPI (secured & unsecured) & Personal Accident. Colin Moody Managing Director of MetLife’s UK Protection Business commented “MetLife are very pleased to be working with Direct Group, as they have demonstrated expertise in administering the products we underwrite and focus on great customer service”. Derek Coles Chief Executive Officer added “the outsourcing of administration to Direct Group shows a growing relationship with MetLife and continues the company’s expansion in the outsourcing arena. The successful transition of a number of blue chip names including MetLife further demonstrates the delivery capabilities of our business. I am delighted to start the year on such a positive note”. Notes to Editors Company Background Direct Group has grown rapidly since its launch in 1990 and was subject to a management buyout in August 2007; the management team acquired the business with the backing of Lloyds Development Capital and Barclays Bank.  This deal has been the launch pad for rapid growth for Direct Group as it on track to treble over the next three years through acquisition and organic growth. Company Vision and Culture As a Managing General Agent (MGA), Direct Group aims to be the leading insurance services provider to the UK financial services marketplace. This vision is based around a philosophy of “treating customers and partners as we would expect to be treated ourselves”. The high quality of service offered by Direct Group is supported by a scalable and robust business platform which not only provides Clients’ and Insurers’ with unparalleled quality of management information but also provides the basis for expansion into new products and new market sectors. Direct Group currently operates on a business-to-business basis by offering products to financial institutions, corporates and affinities. The services offered by Direct Group include product design, account development and training, policy administration, premium collection, claim handling and sales, insurer and captive reporting. Direct Group Limited is authorised by the FSA. For further information contact Hilary Thompson – PA to Directors, Direct Group 01302 380302 or e-mail hilarythompson@directgroup.co.uk MetLife Limited and MetLife Insurance Limited MetLife Limited and MetLife Insurance Limited (MetLife) are affiliates of MetLife, Inc. MetLife offers creditor, personal accident and critical illness through major banking partners in the United Kingdom and the European Union. For more information about MetLife, please visit the company’s website at www.metlife.co.uk  MetLife, Inc., through its affiliates, reaches more than 70 million customers in the Americas, Asia Pacific and Europe. Affiliated companies, outside of the U.K., include the number one life insurer in the United States (based on life insurance inforce), with over 140 years of experience and relationships with more than 90 of the top one hundred FORTUNE 500® companies. The MetLife companies offer life insurance, annuities, automobile and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement and savings products and services to corporations and other institutions. For further information contact Katie Delamain – Blunt, Marketing Manager, MetLife. 07827 950 379 or email Katie.delamain-blunt@uk.metlife.com   text/html 2008-12-02T17:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/18/ Following a competitive tender process Direct Group has been appointed to supply policy and claims administration services to Cardiff based Motor Finance provider, Carlyle Finance. The deal is a three way arrangement between Direct Group, Carlyle Finance and underwriting provider Hollard Risk Partners.   Chris Wood, Director of Sales & Marketing at Direct Group said “We are delighted to partner both Carlyle Finance and Hollard Risk Partners on this deal. Carlyle’s innovative and market leading approach to product distribution, combined with Hollard’s flexible underwriting ethos is complimented by our multi product administration model. The three way arrangement will provide the ideal platform for driving growth, whilst delivering quality customer service in a demanding marketplace.”   The relationship will initially mean the provision of Payment Protection and GAP insurance products, with the addition of further product derivatives which are currently under development to enhance Carlyle Finance’s offer to their customers in the near future.   Mark Standish, CEO of Carlyle Finance said,   “With the volume of insurance sales made by Carlyle, it was important to ensure we get the right partners for both our underwriting and administration, choosing an experienced and established administrator along with a forward thinking and innovative insurer, who we can work closely with is critical to our continuing growth and ongoing success.   The flexibility the Direct Group offer from an administration perspective, coupled with the innovative approach taken by Hollard, not only supports our philosophy and values, it will further enhance the service and products we are able to deliver to our customers and dealer partners”.   Arthur Goldberg, Executive Director of Hollard Risk Partners said,   “This is a fantastic example of how our business model helps one and one equal much more than two. We have brought together distribution, underwriting and administration in a way that aligns everyone’s interests and as such helps build a successful enterprise.   We are very excited about this opportunity and feel that working with both Carlyle and Direct Group will enable us to deliver innovative, cutting edge product, service and delivery to a market that is just crying out for a different approach”.   Derek Coles, Direct Groups’ Chief Executive Officer commented “To be appointed by Carlyle Finance and Hollard Risk Partners further strengthens our position in this space and is right on strategy for Direct Group as a solutions provider of insurance services to the Motor Finance market.”   Notes to Editors   Company Background   Direct Group has grown rapidly since its launch in 1990 and was subject to a management buyout in August 2007; the management team acquired the business with the backing of Lloyds Development Capital and Barclays Bank.  This deal has been the launch pad for rapid growth for Direct Group as it on track to treble over the next three years through acquisition and organic growth.   Company Vision and Culture   As a Managing General Agent (MGA), Direct Group aims to be the leading insurance services provider to the UK financial services marketplace. This vision is based around a philosophy of “treating customers and partners as we would expect to be treated ourselves”. The high quality of service offered by Direct Group is supported by a scalable and robust business platform which not only provides Clients’ and Insurers’ with unparalleled quality of management information but also provides the basis for expansion into new products and new market sectors.   Direct Group currently operates on a business-to-business basis by offering products to financial institutions, corporates and affinities. The services offered by Direct Group include product design, account development and training, policy administration, premium collection, claim handling and sales, insurer and captive reporting.   Direct Group Limited is authorised by the FSA.   text/html 2008-10-08T13:52:13+00:00 Marketing http://www.directgroup.co.uk/p/3/id/17/ West Bromwich Building Society (WBBS) launches new Household Insurance product underwritten by Norwich Union administered by chartered insurance brokers Millennium Insurance.   The policy is being sold via the WBBS branch network, the Society’s central Mortgage teams and is available to mortgage borrowers, investors and the general public.   WBBS Home Insurance gives a choice of Standard or Accidental Damage cover for owner occupied homes up to 5 bedrooms with a range of discounts on offer including up to 6 years No Claims Discount.  Optional cover can be added for valuable items away from home including specified items over £1500 each.   The policy was specially developed by the Society with Norwich Union using a bespoke online Point of Sale (POS) quote and application system designed and implemented by Millennium Insurance, who were recently acquired by Direct Group.   The online system handles the full quote to submission process including a personalised Demands and Needs Statement for each customer, with the insurance application completed on line with a simple Statement of Fact.   David Taylor Insurance Product Manager at West Bromwich Building Society said “The Millennium Trading Centre system gives us the speed to market we needed in developing a new Home Insurance product with our selected insurer Norwich Union.  As well as being a great POS system for stand alone insurance for branch and HO staff the Trading Platform can be integrated into our next generation mortgage application process so future scalability is already built in.”    Stephen Clowes Managing Director of Millennium said “Our GI trading platform has traditionally been used primarily by mortgage intermediaries, but working with WBBS has enabled the pipeline application status tracking and MI capabilities to be used to the platforms full potential, allowing WBBS Area Managers to monitor the activities of their branch network from any PC.”   Derek Coles CEO Direct Group added “I am delighted Millennium Insurance will provide all back office insurance policy administration services and handle all non standard risks and tailored underwriting issues for the Society”.   West Bromwich Building Society – Facts  WBBS employ nearly 1000 staff. distribute products and services through branches (48, primarily in the West Midlands), telephone and internet. are the 8th largest building society in the UK and have assets of over £8bn. demonstrate commitment to mutuality in a tangible way. Last year WBBS shared over £34m with members through competitive mortgage and savings rates and extra Privileged Membership rate benefits to reward loyalty. invest more than £500,000 each year in local communities through sponsorship and by supporting community and grassroots projects.  Millennium Insurance Brokers Ltd – The Facts Millennium Insurance was acquired by Direct Group in June 2008 and as part of the wider group now offers a full range of insurance & protection services for financial services companies, from product design and point of sale implementation to premium collection, policy administration and claims management.   Millennium is a CII Chartered Insurance Broker, and handles a number of GI schemes under delegated authority from a range of insurers specialising in Household and PPI. It the new distribution arm of Direct Group and can handle all kinds of non standard household risks, plus a range of personal and commercial lines business.   About Norwich Union Norwich Union is the UK’s largest general insurer with a market share of around 15%, with a focus on insurance for individuals and small businesses.   It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.   In the summer of 2009 Norwich Union will change its name to Aviva. Aviva is the world’s fifth largest insurance group and operates in 27 countries. Aviva is to become the customer brand worldwide, thus enabling the company to compete even more effectively on a global scale for the benefit of customers, staff, business partners and shareholders.   For further information please contact Hilary Thompson, Communications Officer, at: hilarythompson@directgroup.co.uk   text/html 2008-06-03T10:00:00+00:00 Marketing http://www.directgroup.co.uk/p/3/id/16/ Direct Group Limited today announced it had bought Millennium Insurance a Midlands based provider of General Insurance solutions to the Mortgage broker and IFA market, for an un-disclosed sum.   Derek Coles CEO of Direct Group commented “ Millennium provides Direct Group with a front end sales proposition for our Corporate and Affinity customers offering a full range of General Insurance products across both Personal and Commercial lines. It fits well with our established policy Administration and in house Claims management businesses allowing the Group to access new markets and provide a broader range of services to both new and existing customers. We have examined a number of opportunities since the buyout last year and with the distribution and capability Millennium provides Direct Group this is an excellent fit.”   Steve Clowes Managing Director at Millennium added “We can provide a one-stop solution for our Business Partner clients using the Millennium Online Trading Centre or, our Referral service where we can undertake the regulated General Insurance sale on our clients behalf, or alternatively Affinity Programmes where we provide a web to web link for clients customers to “self select” their General Insurance needs on a non advised basis. Working as the in house distribution vehicle for Direct Group we can provide a full set of FSA regulated broker based point of sale options with full back office support to the wider Direct Group customer base.”   Coles ended by saying “this move allows us to deepen our product and service offering to both the mortgage and intermediated markets.”   Notes to Editors   Company Background   Direct Group has grown rapidly since its launch in 1990 and was subject to a management buyout in August 2007; the management team acquired the business with the backing of Lloyds Development Capital and Barclays Bank.   This deal will be a launch pad for rapid growth for Direct Group as it plans to treble over the next three years through acquisition and organic growth.   Millennium Insurance Brokers Ltd was established in 1996, and is a CII Chartered Insurance Broker and member of BIBA.   Company Vision and Culture   As a Managing General Agent (MGA), Direct Group aims to be the leading insurance services provider to the UK financial services marketplace. This vision is based around a philosophy of “treating customers and partners as we would expect to be treated ourselves”. The high quality of service offered by Direct Group is supported by a scalable and robust business platform which not only provides Clients’ and Insurers’ with unparalleled quality of management information but also provides the basis for expansion into new products and new market sectors.    Direct Group currently operates on a business-to-business basis by offering products to financial institutions, corporates and affinities.    The services offered by Direct Group include product design, account development and training, policy administration, premium collection, claim handling and sales, insurer and captive reporting.   Direct Group Limited is authorised by the FSA.   For further information please contact Hilary Thompson, Communications Officer, at hilarythomspon@directgroup.co.uk or by telephone on 01302 380302.                                Website:         www.directgroup.co.uk                           www.millenniuminsurance.co.uk