DGAP-News: Enterprise Holdings Limited: Enterprise Group

DGAP-News: Enterprise Holdings Limited / Key word(s): Strategic Company Decision/Product Launch Enterprise Holdings Limited: Enterprise Group Set up Inhouse Claims Handling Unit - Massive Cost Savings will Drive Future Profits 03.03.2015 / 08:00 --------------------------------------------------------------------- Enterprise Group Set up Inhouse Claims Handling Unit Massive Cost Savings will Drive Future Profits Enterprise Holdings Limited, a European wide insurance group focused on niche car insurance, insourced its claims handling activities from third parties. The new unit, Claims Consulting Solutions Limited (CCSL), was set up in Manchester in 2014 and as of today employs over 100 specialists, including 52 claims handlers. At the start of operations 8,700 open claim files have been physically transferred to CCSL from the external claims handlers. Most of the claims have been settled already which lead to a negative cash flow, however, simultaneously increased profit by releasing reserves as claims could be settled at lower costs. The specialist teams handle Portal claims, fraud, credit hire and litigated claims supported by a software that enables CCSL to monitor and manage claims within the RTA Claims Portal. The teams intervene on hire, repair and rehabilitation. A separate fraud team is detecting and repudiating fraudulent and exaggerated claims. To further increase the control of the claims handling process, CCSL plans to start its In-house First Notification of Loss (FNOL) services on 1st April 2015. Andrew Flowers, CEO and founder of Enterprise Holdings: "With the new unit now operating at full capacity we will see massive cost saving effects in the future. During the last years only 30% of all claims have been directed to the RTA Claims Portal. Within the last months we managed to increase this percentage to 60%, our internal goal is a 65% portal retention rate. That makes claims costs much more predictable and lowers settlement cost per case significantly. Our experienced claims handlers act proactively and combined with our emphasis on fraud prevention we see much lower indemnity spend. The average saving per case is approximately 2,000 British Pounds, which at 500 cases per month results in monthly savings of one million British Pounds or 1.3 million Euros." End of corporate news About United Kingdom Ministry of Justice Road Traffic Accident (RTA) Claims Portal (www.claimsportal.org.uk) The Claims Portal facilitates the secure exchange of claims information in relation to the Pre-Action Protocol for Low Value Personal Injury Claims in Road Traffic Accidents and the Pre-Action Protocol for Low Value Personal Injury (Employers' Liability and Public Liability) Claims. The UK Ministry of Justice has mandated that personal injury claims falling within the scope of the pre-action protocols must be processed using the Claims Portal. Originally introduced in 2010, the Claims Portal is a stakeholder solution designed to meet the needs of users by providing them with a safe and secure electronic means of communication. Enterprise Holdings Ltd. Group - an owner-lead insurance firm Lead by its founder the company holds several other subsidiaries together with affiliated service companies. The Group offers independent white label general insurance solutions, apart from life insurance products. The affiliated companies deliver insurance specific auditing services as well as administrative and marketing services. The Group focuses its activities on high-yield niches within the European general insurance market. The main category of the offered insurances is in the field of automobile damage and third party insurance, legal costs insurance, household contents insurance and guarantees. Main markets are currently the United Kingdom, France, Greece and Italy. Bond issue Enterprise Holdings' corporate bond is listed in the Entry Standard segment at Boerse Frankfurt (International Security Identification Number (ISIN): DE000A1G9AQ4). The follow-up rating in 2014, as well as in 2013, confirmed the A- rating that has been achieved in August 2012 when Enterprise Holdings issued a 35m euro bond. For more information about the bond please visit our website, especially the section "Bond" at www.enterprise-holdings.de Bond Investor Relations / Press Please direct all your requests to: max. Equity Marketing GmbH Maximilian Fischer Marienplatz 2 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: ir@enterprise-holdings.de IMPORTANT NOTE - Disclaimer Prospective investors of the Securities should recognise that the Securities constitute a risk investment, which can lead to a total loss of their investment in the Securities. Potential investors must therefore be prepared and able to sustain a partial or even a total loss of the invested capital. Any investors interested in purchasing the Securities should assess their financial situation, to ensure that they are in a position to bear the risks of loss connected with the Securities. Therefore, please contact your credit and securities institutions. The admissibility of the acquisition of a security may at various conditions, especially your nationality be bound. Please inform yourself before an investment. This information does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Enterprise Holdings Limited ("issuer"). A decision on an investment in the securities of the issuer may only be made on the basis of the securities prospectus ("prospectus") which is approved by the Federal Financial Supervisory Authority (BaFin) and is published on the website www.enterprise-holdings.de. Only the information contained in the prospectus is binding in connection with the offer. This information may not be disseminated outside of Germany and Austria, in particular not in the United States, to US Persons according to regulation S of the US Securities Act of 1933 or to publications with a general circulation in the United States. Any person who fails to comply with these restrictions may violate the security laws of certain jurisdictions, in particular of the United States. Bonds in Enterprise Holdings Limited are not publicly offered outside of Germany and Austria. The Notes will not be registered under the Securities Act of 1933, or any applicable state or foreign securities laws, and are subject to substantial restrictions on transfer. In particular, the Notes may not be offered or sold in the U.S., or to or for the benefit of U.S. persons, absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. The securities mentioned in this press release are not being and will not be offered for sale to the public in the United States, Australia, Canada and Japan. --------------------------------------------------------------------- 03.03.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 328909 03.03.2015