Capita Insurance Services is set to go head-to-head in the London market with rival business process outsourcer, Xchanging
Capita Insurance Services is set to go head-to-head in the London market with rival business process outsourcer, Xchanging.
The company intends to grow its London market business through new insurance management business, Capita Commercial Insurance Service, which was launched following the acquisition of CMGL in March.
The division will provide services through three market-facing divisions; Capita CMGL, a claims and insurance management service, Capita London Market, a business support service in the live London Market and Lambourn, a professional consultancy service.
But, Jerry McArthur, formerly managing director of CMGL Group and now managing director of Capita Commercial Services, said growth was more likely to come from the Lloyd’s market in the immediate future.
“The main focus is to develop the live services in Lloyd’s,” McArthur said. “We see huge opportunities to work with the market. There is now room for another significant player to support Lloyd’s and our main focus will be in live back office support.
“There are clearly agencies at Lloyd’s that are asking for an alternative and now with the combined operations we feel we have the resources to act as that alternative.”
Capita Commercial Insurance Services will employ 1,000 insurance professionals across 10 locations.