New Division off to solid start for 2009
22/09/2009 12:00:00 by Marketing
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.
Fraud screening reveals travel blues
01/07/2009 09:00:00 by Marketing
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
John Baldock at Direct Group:
Tel: 0751 5975696
Longhawk Group transfers claims divisions to Direct Group
02/02/2009 12:00:00 by Marketing
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
MetLife outsources back office to Direct Group
07/01/2009 09:00:00 by Marketing
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
Carlyle Selects Direct Group
02/12/2008 17:00:00 by Marketing
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.
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