QBE Insurance forged two separate deals that will allow it to outsource analytics work as well as launch specialty coverage for insurance agents and brokers.
As far as the analytics arrangement, financial terms of QBE’s agreement with India’s WNS Holdings Ltd. were not disclosed. WNS said it will manage end-to-end advanced and predictive analytics for the Australia-based global property/casualty insurer regarding claims, underwriting, distribution and fraud.
WNS, which announced the agreement, touted it as a significant insurance analytics deal for the business process management industry. WNS employs more than 2,500 people in its research and analytics practice, and offers insurance analytics services for property/casualty and life insurers, pensions and annuity companies. Overall, WNS employs 31,340 people at various centers in China, Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri Lanka, the United Kingdom and the United States.
Meanwhile, QBE North America sealed a program underwriting alliance with RPS/Plus Companies, a specialist professional liability managing general underwriter. They’ll provide professional liability insurance for insurance agents and brokers, through QBE North America’s insurance companies on both an admitted and non-admitted basis.
RPS/Plus Companies handles professional liability coverage for insurance agents and brokers within QBE North America. While it specializes in small- to mid-size agencies it can also underwrite larger P/C agencies. Typical coverages include disciplinary actions, loss of earnings and pre-claims assistance.
Donald Allard, senior vice president of specialty programs for QBE North America, said in prepared remarks that the agreement will give the insurer “new opportunities to expand our business.”
RPS/Plus Companies Area President Robert Ciuffreda echoed that sentiment, noted, also in a prepared statement, that the relationship with QBE North America specialty lines business “provides us with new opportunities to expand our leading commercial insurance programs.”
Sources: WNS. QBE North America