25th Aug 2009 07:00
25 August 2009
Innovation Group plc
Contract extension
The Innovation Group plc ('Innovation Group') (LSE: TIG.L), is pleased to announce that following a successful initial one year contract to provide a leading UK Insurer with its subsidence claims management solution, both parties have today entered into a new five year contract.
This new contract will see Innovation Group provide its market leading subsidence claims management solution, helping the UK-based insurer to improve its own operational efficiency, enhance customers' claims experience and optimise savings in claims costs associated with this service.
The extended five year contract is expected to generate revenue of approximately £3.5m for Innovation Group, recognisable over the period.
Announcing the contract extension Hassan Sadiq, Chief Executive Officer of Innovation Group commented:
"We are delighted to announce this extended relationship, further proving our ability to provide some of the biggest names in the insurance industry with solutions that can not only boost their efficiency but also enhance their customer service. Moreover, the fact that a market leading and well respected household brand insurer has chosen to sign a five year contract after having used our subsidence claims management solution for just one year attests to the quality and effectiveness of our product."
Enquiries:
|
The Innovation Group Hassan Sadiq, Chief Executive Officer Jane Hall, Group Finance Director |
Tel: +44 (0) 1489 898300 |
|
Financial Dynamics Edward Bridges / Erwan Gouraud / Matt Dixon |
Tel: +44 (0) 20 7831 3113 |
Notes to Editors
About Innovation Group
Innovation Group plc (LSE: TIG.L) is the leading provider of enterprise software, business process outsourcing and repair and service network management solutions to the global Property and Casualty industry. Innovation provides contact centres, repair networks, process management, supply chain and technology operations, and decision support analytics, to support accident management, repair and estimation and claims management services.
Innovation has over 1,000 global clients including AXA Insurance, RSA, AAA NCNU, LeasePlan, The Ford Motor Company, Aviva, Toyota (South Africa) and Zurich (UK). The Group processes more than 4 million claims per year with 20% direct claims cost saving achieved. Our 2,400 people are located in United Kingdom, Australia, Belgium, Canada, France, Germany, Japan, Netherlands, Pakistan, South Africa, Spain, United States.
www.innovation-group.com
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