WTG.L Regulatory News (WTG)

Embargoed for release until 7.00 am 2 May 2013

Quindell Portfolio Plc

("Quindell", the "Company" or the "Group")

Major Contract Win with one of UK's Largest Accident Management Companies

Quindell Portfolio Plc (AIM: QPP.L), the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being insurance, telecommunications and their related sectors is pleased to announce that contract terms have been agreed with one of the UK's largest accident management companies aggregating volume from smaller brokers and other insurance intermediaries.

·; Contract win with revenue already run rating over £36 million per annum

·; One of the UK's largest accident management companies

·; Adds to the 40+ independent outsourcing and referral partners now providing significant volume post LASPO

·; Targeting to deliver over 1,000 injury claims per month to the group on a 6 month rolling contract.

The contract, which will operate on a six month rolling basis, now sees the Group partnering in a vetting arrangement under a LASPO compliant model with one of the UK's largest accident management companies and aggregating volume for smaller brokers and other insurance intermediaries. For April 2013, the first month in which the Group received significant volume from this source, case volumes significantly exceeded the 1,000 injury cases targeted for the month. The Board is therefore confident that the revenues in connection with this source across the Group's end to end supply chain offering for Personal Injury claims, Medical Reporting, Multi Disciplined Rehabilitation, Auto Accident Repair and Vehicle Hire Services will generate more than £36 million per annum. The profitability of this contract is expected to be in line with the Group' s long term EBITDA margin guidance of 20 to 25%.

The Group's outsourcing and referral partners include telecoms companies, insurance companies, brokers, body shops, vehicle manufacturers and fleet companies as well as other intermediaries. This new contract adds to the more than 40 independent outsourcing and referral partners that have now agreed to and are providing significant outsourcing volume to Quindell post LASPO. Many of these are top-tier within their sector, ensuring that as a group, Quindell is not overly dependent on any one income source.

All work from this source, which includes cases drawn from various intermediaries and brokers is being delivered using Quindell's Intelligent Claims Management hub, also helping to underpin the Group's recent significant organic growth in its recurring SaaS revenue streams.

Rob Terry, Chairman and Group Chief Executive of Quindell said: "We are delighted to be partnering with major insurance brokers, insurers and other brands of the quality of the RAC, as well as being able to provide an aggregator facility to smaller brokers and insurers in the market through our SaaS claims hub. These wins have led to us working with over 40 organisations, that each deliver multi million pounds of revenue across our Software and Consulting and Technology enabled outsourcing operations. This latest win is once again another example of the growing momentum of our insurance services offering, whilst driving down the cost of claims for the industry." 

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Notes to Editors:

About Quindell Portfolio Plc

Quindell Portfolio Plc is a provider of sector leading expertise in Software, Consulting and Technology Enabled Outsourcing in its key markets being Insurance, Telecommunications and their Related Sectors. Quindell joined the market through Mission Capital Plc, now renamed Quindell Portfolio Plc. The Company was readmitted to the market on 17 May 2011 following the acquisition of Quindell Limited prior to the immediate acquisition of Quindell's technology and outsourcing partners. In December 2011, Mobile Doctors Group Plc was acquired increasing 2012 run-rate revenue to over £50 million. On the 1 April 2012, Ai Claims Solutions Plc became a subsidiary of Quindell, increasing run rate revenue to over £150 million. Post gaining approval by the Solicitors Regulation Authority and the acquisition of our legal businesses in December 2012, including the law firm Silverbeck Rymer, Quindell finished 2012 with run rate revenue of more than £300 million.

Our Industry Sectors

In today's digital world the line between traditional industry sectors continues to blur, however the focus on tight service management is common to them all. We believe that excellent customer service, tight cost control and integrated supply chain management is not the prerogative of any single industry sector and with our solutions in multiple industry sectors savings of over 20% against industry norms are being delivered to the bottom line.

Our Solutions

The pressures on an organisation can come simultaneously from multiple directions including the need to add customers, increase wallet share, reduce costs and improve customer satisfaction. At Quindell we have the People, the Processes and the Supply Chains, underpinned by our sophisticated Champion and Challenger Business Process Management Technology Platform and Industry Solutions to help our customers tackle these efficiently and effectively.

With a clear understanding that having the best products and services on offer is not always enough and that getting your customers to use or adopt them is key, effective conversion lies at the core of our unique Champion and Challenger tools and techniques. Using these solutions Quindell has helped its customers achieve sales and service conversion rates ranging from 75% to 90%, way above industry norms. But life does not stand still, and complacency can kill any business, so the embedded Champion and Challenger continual improvement focus of our Learning Solutions is at the heart of all we offer. Using our industry insight and expertise, Quindell takes the holistic view of our client's challenges.

For example, when considering the Insurance industry today where 50% of the cost of an auto claim is associated with Personal Injury, including legal services, medical reporting and rehabilitation, it is clear that an organisation will not be able to achieve the levels of savings and customer satisfaction desired without addressing the injury to the driver as well as the repair of the vehicle. This is why at Quindell we have designed our insurance solutions and supply chains to address the full end to end cycle, with the ability and expertise to treat an injured party as well as repairing their vehicle. This makes Quindell a truly unique and ethically based proposition for the insurance industry today.

Our Customers

Quindell Portfolio's companies have worked with over 2000 brands from Small to Medium Enterprises and Blue-chip organisations around the globe. Today we count a number of the world's top Insurance and Telecommunications blue chip companies within our client base, as well as hundreds of customer centric organisations working in both the distribution and supply of their services.

Our award winning Business Transformational, Software, Consulting and Outsourcing Solutions are recognised as delivering significant savings and additional sales to our customers every year.

For further information, please visit www.quindell.com