Towry Law, the leading independent financial adviser has won the 'Best use
of IT in insurance' prize at the Financial Sector Technology awards. The
prize was presented to Managing Director, Miles Standish and Chief
Officer, Keith Webb at the ceremony held on 8th March at the Landmark
The award is further evidence of the success of Towry Law's strategy to
become a virtual operations company by using third party experts to manage
its non-core business activities. In 1999 Towry Law formed a ten-year
partnership with CMG Admiral in the UK to deliver management consultancy
business-focused technology applications to provide efficient independent
financial services, whilst it has concentrated on the provision of
services. Towry Law's revenues have grown from £23 million in 1998 to £61
million in 2000.
The award recognises the significant successes that the partnership has
achieved in a number of areas. Firstly, the overhaul of its core IT
This has delivered Towry Law considerable cost-savings, increased
resilience, a robust platform to move forward, and an enterprise-wide view
of business activity from a management perspective.
Secondly, the implementation of an end-to-end Life & Pensions solution
enables it to manage client accounts from point-of-sale through to the
office, in a seamless end-to-end process. This has resulted in annual cost
savings of approximately £1m, as support staff can manage more financial
consultants; marketing campaigns are conducted more effectively and
commission and fee handling is managed more efficiently.
And, lastly, looking to the future the award recognises how Towry Law is
responding to the potential of eCommerce. With Stakeholder Pensions
available in April 2001, CMG Admiral has redeveloped and recently launched
Towry Law's web site. It is now capable of exploiting business-to-consumer
opportunities driven by the sub '1% world'.
Keith Webb, Chief Operating Officer, Towry Law, commented;
"Towry Law is thrilled to have won this award. We have always seen the
application of IT as a major strategic differentiator. So, to get
recognition from the industry for the hard work we have carried out with
Admiral gives us a great boost."
Ken McCarthy, Managing Director, CMG Admiral Financial Services said;
"This award recognises the partnership that has been established between
Towry Law and CMG Admiral and the tremendous work that has been undertaken
in re-engineering the Life and Pensions industries supply chain."
CMG Admiral Enquiries:
Imogen Beck, CMG Admiral, Parnell House, 25 Wilton Road, London, SW1V 1LW.
Tel 020 7592 4755, Fax 020 7592 4157, Email: firstname.lastname@example.org
James Read/Richard Moore, Citigate Technology, Tel: 01604 232223, Fax:
234501, 7 Albion Place, Northampton, NN1 1UD, Email:
email@example.com or firstname.lastname@example.org
Background to CMG Admiral
CMG Admiral is part of the CMG group and represents the combined UK
of CMG and Admiral. With over 3500 staff throughout the UK CMG Admiral
offers the strength to deliver global solutions locally. CMG Admiral is
focused on enabling clients to gain maximum advantage from technological
innovation. CMG Admiral provides a pragmatic, partnership approach and
committed to building long term relationships with clients.
CMG is a global Information & Communications Technology (ICT) group, with
leading positions in the provision of business information solutions and
mobile messaging and billing products. Through management consultancy,
systems development & integration, software applications and outsourcing,
CMG helps organisations to build secure ICT infrastructures that enable
adoption of new business models for electronic and mobile commerce.
Established in 1964, CMG is headquartered in London and Hoofddorp (near
Amsterdam) and now implements and supports applications for customers
worldwide from bases in 16 countries. CMG has proven knowledge, solutions
and products across a wide spectrum of markets, including finance, transport, telecommunications, media,
petrochemicals, utilities, retail, manufacturing and government agencies.
The Group also provides outsourced business services ranging from payroll
processing, call centres and networked systems to infrastructure
application maintenance and hosting.
CMG Wireless Data Solutions has established a leading position in wireless
messaging and gateway products, mobile Internet and e-mail, cell broadcast
and customer care & billing systems. These products are provided to mobile
telecommunication operators and service providers worldwide from offices
Europe, the Americas and Asia Pacific.
CMG works alongside its customers in long term relationships to generate
success for them. Through the quality of its services, products and
professionally committed people, CMG adds value to its customers'
businesses. This creates a basis for the Group's sustained success.
CMG is listed on both the London Stock Exchange (FTSE 100 and techMARK
and Amsterdam Exchanges (AEX Midcap).
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