Quindell Portfolio signs largest contract for 2013

Quindell Portfolio announced Monday it has secured a material new contract with a UK insurance broker.

The provider of expertise in software, consultancy and technology outsourcing said the deal was material to its revenues and was the largest contract signed this year.

The undisclosed broker has agreed to extend via a new outsourcing contract in its relationship with Quindell to March 31st, 2014. It follows a trial period where a significantly improved customer base was achieved compared to industry norms from previous partners.

Under the deal Quindell will service all aspects of the broker's insurance claims process. The outsourcing partner has more than 1.2m auto policy holders.

Rob Terry, Chairman and Group Chief Executive of Quindell, said: "We are delighted to announce this significant new contract with one of the UK's largest broking brands.

"They recognised early that the Quindell outsource offering would satisfy all their needs. Quindell had already integrated its service solution which allowed for us to respond extremely quickly to provide a full claims outsourcing capability.

"Through our initial full volume trial period, we have been able to demonstrate that our integrated solution provides for a better customer journey for all participants. We look forward to developing the relationship further by working strategically with the broker's management team."

RD