Hands-off Approach

When Canadian insurance software company Oceanwide wanted to move its European HQ from Antwerp to London, UK Trade & Investment helped to chart its course.

Company Name: Oceanwide

Oceanwide started in Montreal in 1996 to provide software solutions for insurance companies and underwriters. The company has two flagship products, Bridge and Genoa, which automate and speed up insurance processes like policy sales and claim management. Oceanwide’s clients include Chubb and Lloyd’s of London. 70 per cent of the company’s revenue comes from the US.

When the company wanted to move its European HQ to London from Antwerp, it approached UK Trade & Investment (UKTI) for advice on setting up a UK office, and for information on employment law, salaries and locations. UKTI also gave Oceanwide practical help during a two-day visit in February 2011, introducing the company to lawyers and recruitment agencies.

Oceanwide’s London office opened in July 2011. The company has since hired two new members of staff and has also found several new clients. It expects to hire more staff as demand for its products grows.

“The best thing about our UKTI adviser was that he took the time to understand what we needed,” says Denis Fragias, Chief Financial Officer of Oceanwide. “Anyone thinking of coming to the UK to do business needn’t do it alone. They can get help from UKTI and its partners.”

For easy reading and printing, download the UKTI case study as a PDF.