Will Begin Marketing Claims Management I.T. Systems
IPSWICH, England--(BUSINESS WIRE)--June 26, 2007--Motor insurance
claims management specialist WNS Assistance, the Ipswich based unit of
WNS (Holdings) Ltd (NYSE: WNS), has acquired its information
technology systems supplier, FLOvate Technologies, and now intends to
market its claims-related technology platforms with its own business
process outsourcing services. FLOvate's customers include Saga and LV,
two major UK-based auto insurance providers.
WNS Assistance has long worked with FLOvate Technologies, a
privately-owned Ipswich-based company, with approximately
three-quarters of its business devoted to developing workflow and
claims management systems under exclusive license to WNS. FLOvate
employs a total of 70 people, including 25 in Bangalore, India.
FLOvate Founder and Chairman, Edwin Harrellwill serve as its Chief
Technical Officer of WNS Assistance. Bernard Donoghue, who was
previously Global Head, WNS Insurance Services, has been appointed CEO
of WNS Assistance, while Tim Rankin will continue as managing director
of the business.
"We have been in discussion with a number of leading insurers,
broker groups, and commercial fleets about outsourcing their motor
claims management function," commented Mr Donoghue. "In addition to
tapping into business process outsourcing expertise, several of these
companies have been interested in the possibility of acquiring one or
more of the claims-related systems supplied by FLOvate Technologies.
We are now in a position to supply such systems in our own name,
delivering a seamless solution to our clients."
Added Mr Donoghue, "The acquisition of FLOvate allows us to apply
our motor-related claims management expertise to other insurance
fields, with our initial targets being the pet, travel and household
sectors. We are already engaged in developing a number of exciting
opportunities in these new product areas and are confident that they
will allow us to extend our current capabilities."
WNS acquired UK motor claims management company Town and Country,
which was subsequently re-named WNS Assistance in 2002. In addition to
insurers, WNS Assistance includes a number of brokers among its
customers as well as large commercial fleets such as home improvement
retail group Kingfisher plc and diversified technology company 3M.
About WNS
WNS is a leading provider of offshore business process
outsourcing, or BPO, services. We provide comprehensive data, voice
and analytical services that are underpinned by our expertise in our
target industry sectors. We transfer the execution of the business
processes of our clients, which are typically companies located in
Europe and North America, to our delivery centers located primarily in
India. We provide high quality execution of client processes, monitor
these processes against multiple performance metrics, and seek to
improve them on an ongoing basis.
Our ADSs are listed on the New York Stock Exchange. For more
information, please visit our website at www.wnsgs.com.
CONTACT: Investors:
WNS (Holdings) Limited
Jay Venkateswaran, +1 212-599-6960
Senior VP -- Investor Relations
ir@wnsgs.com
or
Media:
Michael Karwowski, +0117 925 5172
SOURCE: WNS (Holdings) Limited
