Insurance provider Sterling Insurance Group has set up a UK-based software subsidiary with the aim of providing systems for retail and commercial asset finance companies.
Operating from King’s Hill in Kent, the software company, Sterling Technologies, has been built on the Group’s IT development and provision over the past three years, including for clients such as RBS, Barclays Insurance Division, and Lloyds TSB General Insurance and Commercial Banking.
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Sterling is aiming to use its experience in the financial sector to offer software services, hosting and IT support.
Tony Pritchard, director of Sterling Technologies, said clients had been pleased with the company’s ability to launch products and platforms faster than either in-house IT departments or a traditional software house "which might not have the insurance and regulatory understanding required."
Speaking to Leasing Life, Pritchard explained Sterling Insurance Group already provides insurance products to both retail and commercial asset finance companies and said the Technologies subsidiary would therefore view those sectors as target markets.
"Our success to date has been based on helping a wide range of financial services clients to launch new insurance products quickly and this will be our main target market," he said.
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By GlobalDataFurther comment by Tony Pritchard will be published in the March issue of Leasing Life magazine.
richard.brown@timetric.com
