Misys has sold its insurance claims management subsidiary to The Rubicon Corporation for an undisclosed sum.
Formerly known as CWA Claims, Misys Claims Management was established by Misys in 1997 to provide administrative outsourcing solutions to the general insurance industry.
The business, which processed in excess of 160,000 claims last year, will be renamed Rubicon Claims and will continue to operate from its offices in Solihull. Operations Director, Gordon Smith, will lead its integration into Rubicon and continue to manage the day-to-day operations of the business.
The agreement takes effect immediately, and enables Misys to focus on distribution-related activities in the UK life and pensions, and general insurance sectors.
Bradley Brandon-Cross, co-founder and joint CEO of one-year old Rubicon comments: "Combining high quality first notification of loss, technical claims handling, recoveries and inspection services, Rubicon Claims will provide our clients with a benchmark end-to-end claims solution and become the market leader in motor claims management.”