6th May 2010 07:00
6 May 2010
THE INNOVATION GROUP PLC
NEW THREE YEAR CONTRACT IN NORTH AMERICA WITH
WORLD'S LARGEST GENERAL USE CAR RENTAL BRAND
The Innovation Group plc (LSE: TIG.L), ('Innovation' or 'the Group'), a global provider of enterprise software and business process outsourcing solutions to the global insurance, financial services, motor and fleet industries, is pleased to announce that it has agreed a new three year contract in North America with the world's largest general use car rental brand. This is a new contract in addition to an existing BPO pan-European contract for claims management and fleet repairs.
The contract is estimated to be worth a minimum of £5.75m to Innovation over three years, to be recognised evenly over three years from 1st June 2010. The new contract will see the Group provide motor physical damage repair management services across North America.
Commenting on the contract Andy Roberts, Chief Executive Officer of The Innovation Group, said:
"I am extremely pleased to be announcing this new contract with such a well-known global brand and we look forward to continuing our solid working relationship with them. This new contract extends the Group's work for this brand in North America and positions us as a key player in the sector. It is further proof of the attractiveness of our offer and a mark of our growing strength in the motor services segment."
Enquiries:
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The Innovation Group plc |
Tel: +44 (0) 1489 898 300 |
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Andy Roberts, Chief Executive Officer |
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Jane Hall, Group Finance Director |
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Financial Dynamics |
Tel: +44 (0) 20 7831 3113 |
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Juliet Clarke / Matt Dixon / Erwan Gouraud |
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About The Innovation Group plc:
The Innovation Group plc is a leading provider of enterprise software, business process outsourcing and repair and service network management solutions to the global insurance, financial services, motor and fleet industries. Innovation Group 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 Group has over 800 global clients including AXA Insurance, RSA, American Modern Insurance Group, LeasePlan, The Ford Motor Company, Aviva, Toyota and Zurich. The Group processes more than 4 million claims per year with 20 per cent direct claims cost saving achieved. Innovation Group's 2,300 people are located in the United Kingdom, Australia, Belgium, Canada, France, Germany, Japan, India, Netherlands, Pakistan, South Africa, Spain and United States. www.innovation-group.com
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