8 Apr 2014 07:00
Released on 7am on April 8th 2014
Quindell Plc
("Quindell", "the Company", or the "Group")
Zurich Canada chooses Quindell Solutions technology
Quindell 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 Zurich Canada, part of the Zurich Insurance Group has contracted to use regul8™, Quindell's market leading statistical reporting solution.
The Zurich Insurance Group serves customers in more than 200 countries, including the US, Canada, Europe, Asia Pacific, and Latin America, with over 55,000 employees worldwide. Zurich Canada has operated in Canada for over 90 years offering a wide range of commercial business insurance products and risk management solutions for mid-sized, large businesses and multinational corporations.
Quindell is also a global insurance technology leader, focussed heavily in Europe and North America, providing the most complete telematics turnkey solution in the market, helping insurers reduce the cost of claims, lower premiums, increase profit, and promote safer driving practices.
Zurich Canada is required to adhere to extensive requirements in reporting its policy and claims data to both the General Insurance Statistical Agency (GISA) and the Groupement des assureurs automobiles (GAA). With system needs evolving, Zurich Canada was faced with a decision to continue to build and maintain in-house, or to move to regul8, the industry leading solution offered by Quindell Solutions. regul8 will integrate with the core Zurich transactional systems including PMS, ZIP and Guidewire Claims Center®.
According to Kevin Hunter, Head of Information Technology at Zurich Canada, the decision was straightforward, "The choice of regul8 was straightforward; we are committed as an organization of ensuring the highest quality of statistical data reporting and building an in-house solution just could not be done in the time frame that we wanted. Regul8 also ensures that future stat changes are implemented correctly and on time. We are confident we will achieve both higher data quality and more streamlined operations while working with Quindell."
regul8 is the de facto standard statistical reporting solution in Canada, in use or in implementation for carriers with over $7.5 billion in annual premiums, representing circa 20% of the Canadian Insurance market. Additionally, Quindell is working with several other insurers on assessments to determine where regul8 can provide benefits such as streamlined reporting, early error detection and correction, reduced costs, and most importantly, peace of mind, working with a future-proofed solution.
Tim Scurry, Group Chief Executive, Quindell Solutions Division, added, "Zurich Canada writes Commercial Property, Liability and Auto across all provinces and territories, while globally they deliver a complete range of general insurance and life insurance products. Our goal is to successfully deliver a superior regul8 solution, and then pursue other global efforts together."
About Zurich Insurance Group
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With more than 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich's customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 200 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
In Canada, Zurich is focused on developing solutions for medium and large corporations, Canadian-based multinationals, and customers in the technology, transportation, public sector, real estate, construction, manufacturing and management industries. For more information about the products and services it offers and people Zurich employs around the world, go to http://www.zurichcanada.com.
About Quindell Plc
Quindell Plc is a provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets being insurance, telecommunications and their related sectors. Quindell enters 2014 with a run rate of gross sales approaching £600 million and approaching £200 million of EBITDA, and has announced new contract wins since the start of 2014 that amount to a further £500+ million due to start during 2014. Our award winning business transformational, software, consultancy 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.
For further information, please contact:
Tim Scurry, Chief Executive
David Gallagher, VP Marketing
Quindell Solutions North America
1-888-999-7107
www.quindell.com
For Zurich Canada media inquiries, contact
Daryl Angier, media relations
416-586-2723, daryl.angier@zurich.com