As Hot Views readers will know we have been scratching our heads about what ‘brand extension company’ Quindell Portfolio actually does (see Making head or tail of Quindell). Thankfully, the company is to hold its first investor and analyst event, but only after the current offer period relating to its acquisition of Ai Claims Solutions (see here) and not, we understand, till after the interim results in July. This is also when its exclusive arrangement with ‘digital brand based insurance broker’ ingenie, its anchor insurance client, runs out. All being well we are due to speak with Quindell’s CE Rob Terry next Friday, so may be able to piece together some of this for readers before then.
Quindell also said it paid £2.85m in cash to increase its stake in ingenie by a further 16.4%. It now owns c20% of ingenie, which is focused on the young driver market, and apparently provides a telematics system that it installs in the driver’s car to monitor how it is being driven. On the back of this, Quindell said it has also made the first sale of its 'Challenger' telematics based insurance claim system to ingenie.