Indian expertise for UK-Bermuda insurance
WNS (Holdings) Limited (NYSE: WNS) has announced its strategic contract win with the newly formed US$1.8 billion capitalized Convex Group Limited, an international specialty (re)insurer based in the UK and Bermuda led by renowned insurance leaders Stephen Catlin and Paul Brand.
The Convex Group has appointed WNS as its long-term strategic partner to build a first-of-its-kind, integrated, “Platform + BPM as-a-service” proposition across industry horizontals (including support services relating to Operations for Insurance, Reinsurance, Claims, Finance and HR).
While Convex Group will leverage its Underwriting and Claims Management Excellence, WNS will provide processing support with its deep (re)insurance domain knowledge and track record in the specialty and reinsurance lines of business to design, build and implement a best-in-class unique target operating model.
Keshav R. Murugesh, Group CEO, WNS, said: “This is indeed a proud moment for our combined teams and a culmination of the focused efforts and collaboration, towards co-creating a unique end-to-end “Insurance in a Box” product solution and unique value proposition for the Convex Group.”
“We are delighted to have been chosen as the strategic partner by the Convex Group and I am confident that we are going to set new industry benchmarks together. We look forward to working closely with the Convex Group to help establish them as a leader in the (re)insurance market and provide world-class services to their clients and brokers across the globe,” said Murugesh on 2 July 2019.
Adrian Spieler, Group COO, Convex, said: “Our team at Convex is excited to be building the “insurance company of the future” free from legacy systems and processes. We believe WNS has the operational excellence needed to support the execution of our business strategy. We are building a platform which is flexible, scalable and efficient and WNS will be a great partner to support us on our journey.”
Convex is a newly formed international specialty insurer and reinsurer founded by Stephen Catlin and Paul Brand. With operations in London and Bermuda, Convex occupies a unique position in the insurance industry combining unrivalled experience, reputation and a legacy free balance sheet. fiinews.com