Total Loss Settlement Services

Formed in 2002, TLSS is a specialist in total loss valuations and settlements. The firm claims that through the use of software, qualified engineers and a focus on the difference between geographical valuations, it can reduce both the time and cost of claims. Commenting on his appointment, Mr Tidd said: "TLSS has carved out a unique position for it... self in the motor insurance marketplace. It is a business that worked with when I was at Link and I was impressed with what they could provide us in terms of service standards and savings. "The larger GHL company also used them and I maintained a dialogue with them while I was out of insurance." He expressed excitement at the growth prospects of the company and said he was confident that he had the skill set to help realise those targets. "TLSS has been steadily building business since it started in 2002 and I think now is the optimum time to develop the service both in terms of product range and in accessing new markets and clients," he said. "We are looking at four-fold growth over the next two or three years and aiming produce around £400,000 in profit. "I bring an understanding of the motor insurance market in terms of identifying opportunities and I think there is great scope for the company to use its existing technology to make the most of new markets. For example, we are currently looking at getting involved in third party claims," Mr Tidd added. He also revealed that TLSS was set to expand it distribution network in the coming years. "Our main focus to date has been to provide services to insurers but we are keen to target panel brokers, management companies, and affinity groups," he said. Mr Tidd said that he had other propositions in the pipeline that would be complemented by TLSS but he declined to expand further due to confidentiality issues.Read More