DGAP-News: Enterprise Holdings Limited: Enterprise Group Set up Inhouse Claims Handling Unit - Massive Cost Savings will Drive Future Profits

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

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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.



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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.

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328909 03.03.2015