Rubicon acquires Misys Claims Management
The Rubicon Corporation, a leading source of expert insurance services and solutions, today announced the acquisition of Misys Claims Management Limited from Misys plc, for an undisclosed sum.
Formerly known as CWA Claims, Misys Claims Management was established by Misys in 1997 to provide administrative outsourcing solutions to the general insurance industry. The business grew rapidly, handling high quality contracts with several leading UK insurers and processed in excess of 160,000 claims last year. The business will be renamed Rubicon Claims with immediate effect, and will continue to operate from its offices in Solihull. Operations Director, Gordon Smith, will lead its integration into Rubicon and continue to manage the day-to-day operations of the business.
The agreement takes effect immediately, and enables Misys to focus on distribution-related activities in the UK life and pensions, and general insurance sectors.
“I am delighted that we have been able to acquire such a high quality, complimentary platform that will substantially enhance our existing motor claims operations.” comments Bradley Brandon-Cross, Rubicon’s joint chief executive. “Combining high quality first notification of loss, technical claims handling, recoveries and inspection services, Rubicon Claims will provide our clients with a benchmark end-to-end claims solution and become the market leader in motor claims management.”
“We intend to develop centres of excellence throughout our business process outsourcing division, and this acquisition enables us to accelerate that process.”
Gordon Smith adds: “My team are delighted to join The Rubicon Corporation, and are enthused by the drive and commitment within the business to developing full service administration platforms that will set standards for others to follow.”
Notes to editors
About The Rubicon Corporation
Bradley Brandon-Cross, formerly managing director of GE Financial Insurance, and Max Carruthers, formerly chief executive of Eastgate Assistance, founded The Rubicon Corporation in early 2001.
The heart of Rubicon’s business is providing expert insurance solutions and services to branded insurance distributors and insurance companies in three focal areas: -
- Consultancy and interim management in insurance marketing, product development and operational strategy.
- Third party administration (TPA) and business process outsourcing (BPO) for insurance sales, policy processing and claims.
- Underwriting facilitation and support.
Rubicon provides a unique “white-label”, end-to-end insurance capability, solely dedicated to enhancing the clients’ brand values, and offers bespoke turn-key solutions for both new entrants to the insurance market and more established players.
www.rubiconcorp.comFor further information, please contactRubicon: Lesley Russell, tel: 020 8334 7877, mob: 07815 778038 or email: lesley.russell@rtltd.com
Misys plc: Paul Charles, tel: 020 7368 2315, mob: 07769 880991
About Misys plcMisys plc is one of the world’s leading suppliers of software products. Misys develops and licenses a variety of software products to customers in the international banking and securities, US healthcare, and UK retail financial services sectors. The group partners with its customers to deliver outstanding IT solutions to essential industries. For the year ended 31 May 2002, Misys reported revenues of £1,036m and adjusted operating profits of £128m. Misys employs over 6,500 people internationally. www.misys.com
