The Claims People Group is placing a minimum subscription for its planned flotation on the Alternative Investment Market by the end of this month.

The placing is expected to raise £1.8m from certain institutional and other investors with up to a further £500,000 through a public offer. This will value the company at £4m.

Trading on Aim is expected to start by the end of September.

Claims People targets the £200m personal lines loss adjuster sector.

The company plans to use business-to-business and web-customer interfaces to reduce costs and speed up the process of claims servicing.

Claims People also plans to expand into the £1.8bn repair and replacement market after flotation.