Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
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  • FETransmission.com
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  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Quindell Portfolio (QPP)

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Friday 15 June, 2012

Quindell Portfolio

Commercial Agreement and Acquisition Terms

RNS Number : 4310F
Quindell Portfolio PLC
15 June 2012
 

RNS For release 7.00 am 15 June 2012

 

Quindell Portfolio Plc

("Quindell", the "Company")

Commercial Agreement and Acquisition Terms

 

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 it has reached an agreement to partner with Intelligent Claims Management Limited ("ICM") one of the largest and fastest growing cloud based claims management networks in the UK. In addition, Quindell has agreed terms for the acquisition of ICM.

 

The ICM Network is a software based virtual network of independent Claims Management Companies who submit business to ICM's Service Providers (Solicitors, Credit Hire Companies, Medical Agents and many others), which connects everyone involved in the claims process in the same online space, saving time and money. ICM facilitates the network and allows its members to choose with whom they want to work and when. Through its innovative provision of cloud technology, ICM acts as a hub for each of its members, allowing them to exchange work and information in an efficient and controlled manner. The Directors expect that ICM becoming part of the Group will provide a platform for Quindell to engage directly with a wide range of independent claims management companies extending its reach more broadly into the insurance supply chain, driving though service synergies, changing the way in which the industry operates, lowering the cost of claims and improving service for clients.

 

With the banning of referral fees from April 2013, the integration of the ICM platform and network within the Quindell operation will offer independent claims management companies an alternative business structure through which to continue to transact business in a more controlled and regulated ethical environment, stamping down the cost of claims.

 

As well as agreeing the framework for a working relationship with ICM, Quindell has agreed the commercial terms that will enable it to acquire ICM, with completion of this acquisition targeted within the next few weeks. The terms of the acquisition, which gives Quindell exclusivity to the end of December 2012, will be satisfied by the issue of 27,083,333 Quindell shares. In return ICM will warrant profit after tax of £0.5 million for the twelve month period ending 31 May 2013 (the "Target Profit") and cash generated to be no less than 100% of the Target Profit (the "Cash Target"). The shares will be subject to lock in of between 12 and 36 months from the date of issue. In the event that ICM misses its Target Profit or Cash Target, the Group will receive compensation from the vendors in the form of cash equal to the greater of 6.5x the shortfall relative to either target. The ICM management accounts for the year ended 31 December 2011 show turnover of circa £1.2 million and profit before tax of circa £0.3 million, which represents a growth of circa 200% on 2010 revenues and the business has continued to grow rapidly to date.

 

Rob Terry, Chairman and Chief Executive of Quindell said: "As a result of working with ICM over the past months, a number of joint client contracts have been achieved validating our shared vision for the use of technology to facilitate change within the insurance industry to stamp down the cost of claims. The infrastructure, expertise and networks that Karl and his team have built both complement and strengthen Quindell's proposition in the insurance industry. We believe that this acquisition will further enhance Quindell's unique offering to the insurance industry and provide a viable and profitable way forward for smaller independent claims management companies to operate in a regulated environment under an aggregated model."

 

Commenting on the potential acquisition, Karl O'Hare, Chief Executive of Intelligent Claims Management said: "Quindell offers us a fantastic opportunity to play our part in the changes to the insurance industry that will come into effect from April next year. We see great benefit to combining our technology enabled, cloud based network of claims providers with Quindell's business model, collectively helping to drive down costs for the insurance industry and ensuring the survival of professional claims management organisations post the referral fee ban."

 

 

For further information:

Quindell Portfolio Plc
Rob Terry, Chairman & Group Chief Executive

 

Laurence Moorse, Group Finance Director


Tel: 01329 830 501

terryr@quindell.com

Tel: 01329 830 543

moorsel@quindell.com

Cenkos Securities plc
(Nominated adviser and broker)
Stephen Keys /Adrian Hargrave(Corporate Finance)

Alex Aylen / Andy Roberts (Sales)

 

Tel: 020 7397 8900

 

Media Enquiries
RedleafPolhill Limited

Rebecca Sanders-Hewett

Jenny Bahr

 

Quindell Portfolio Plc
Gillian Baker, Investor Relations

 

 

Tracey Terry, Chief Communications Officer

 

 


Tel: 020 7566 6720

quindell@redleafpolhill.com

 

Tel:01329836724 

bakerg@quindell.com

 

Tel: 01329 830 501

terrylt@quindell.com

 

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.

 

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 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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