Capita acquires Webline
13 January 2006 | 2282 views | 0
Capita announces that it has acquired Webline, an independent company which is a major provider of online quotation and fulfillment services to the UK insurance and investment sectors, for an undisclosed sum.
Webline, which developed the UK's first online, comparative life quotation system, offers a range of cost-effective, easy-to-use, web-based quotation and fulfillment services. Over 15,000 financial intermediaries, including more than 50 major adviser groups, subscribe to Webline - which is supported by 20 product providers. As well as providing online services to independent financial advisers (IFAs), Webline's service is currently integrated into the websites of over 1200 IFA firms, allowing them to offer a choice of online services to their clients.
Webline's users include directly regulated IFAs and general insurance intermediaries, mortgage brokers, national IFAs and major networks as well as tied and multi-tied agents. The acquisition will enable more effective distribution of products through web-based deployment as well as enhancing the breadth of back-office outsourcing solutions Capita offers to the IFA market place.
Rod Aldridge, Executive Chairman of The Capita Group Plc, commented: "Web-based functionality is vital for our business to work seamlessly with the network of IFAs. Webline offers proven, resilient technology in this arena and has an excellent reputation with insurance providers. Through this acquisition we can offer a complete adviser outsourcing solution. We will benefit from the Webline team's extensive market knowledge and vision, and our customers will benefit from the combined service portfolio."
All the directors and employees at Webline's offices in Fareham, Hampshire will become employees of Capita but will continue to work out of their current premises.
Paul Holland, Executive Chairman at Webline, said: "This acquisition offers Webline fantastic scope to continue our rapid development as well as providing greater opportunities for users, partners and staff. We look forward to becoming part of Capita, extending our range of innovative services and significantly increasing our market share."