7th Jul 2009 07:00
7 July 2009
Innovation Group plc
Contract Win
German Insurance Group Signs Accident Management Contract with Innovation
Innovation Group plc ('Innovation Group') (LSE: TIG.L), is pleased to announce that it has signed a contract with a large German Insurance Group, which is an association of 11 regional insurance groups. When combined, the Group represents more than 10 per cent of the German insurer market place.
The contract will see Innovation Group provide a range of accident management services deployable across numerous country-wide operations. The focus will be on Innovation Group's market leading motor repair service which reduces claims cycle times and delivers savings on claims costs of up to 20 per cent.
The contract to provide these services will run for three years, commencing July 2009. Revenue is expected to start at €1.0m per annum and has the potential to increase to approximately €3.0m per annum as the service is rolled out, over time, within the group.
Welcoming the contract award Hassan Sadiq, Innovation Group Chief Executive Officer commented:
"This announcement is an excellent endorsement of our technology and the capabilities of our service. By deploying our solutions one of the largest players in the German insurance market will shortly see significant gains in the ease and efficiency with which it manages these policies and claims."
Enquiries:
|
Innovation Group Hassan Sadiq, Chief Executive Officer Jane Hall, Acting Group Finance Director |
Tel: +44 (0) 1489 898300 |
|
Financial Dynamics Juliet Clarke / Matt Dixon / Erwan Gouraud |
Tel: +44 (0) 20 7831 3113 |
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
Related Shares:
Team Internet