The organisation aims to forge new synergies between its brands thanks to the creation of three new divisions

Claims focused investment organisation Handl Group is planning a business restructure after the company grew its turnover by 77% in 2023 to reach £125m.

To better support the firm’s growth ambitions and new scale, Handl Group wants to recruit three new divisional managing directors to lead three newly created divisions.

These divisions include ancillary insurance and claims fulfilment, expert witness and assessment services and health and wellbeing.

As part of the restructure, Handl Group’s brands – which include firms such as ancillary insurance business Coplus, credit hire firm Cogent Hire and motor locksmith specialist We’ve Got the Key – will each be placed in one of the aforementioned new divisions.

The organisation hopes to create new synergies between its brands to generate new products and services, boost customer count and improve revenue.

Chris Chatterton, chief commercial officer at Handl Group, said: “The new divisions will have more independence and the new managing directors will have the power to develop and grow those brands in the same market or industry through collaboration.

“If we spot gaps in our propositions, we’ll go down the M&A route to plug them.”

A people and tech partnership

Speaking on Handl Group’s growth, Chatterton attributed the firm’s bolstered turnover to “ongoing acquisitions and increased sales”.

He explained: “Our performance came from ongoing acquisitions and increased sales in the government outsourcing, medical assessments, insurance and healthcare sectors – in particular expanding partnerships with large providers in the private medical space.

“In the insurance space, we have benefited from ancillaries and claims management business Coplus’ partnership with GoCompare and We’ve Got the Key’s growing relationship with the RAC.”

Chatterton added that Handl Group is striving for further growth, however – the business aims to “significantly surpass” its current metrics during 2024.

He continued: “Our strategy for insurance will see us generating ever closer collaboration with our chosen partners through digitally enabled systems and processes, supporting our people.

“Getting the best from our people plus tech approach remains key to future growth.”