WNS Acquires FLOvate Technologies
June 26 2007 - 4:05PM
Business Wire
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.
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