15th Mar 2012 07:00
15 March 2012
The Innovation Group plc
('Innovation Group' or the 'Group')
US Insurer Claims Software Contract
The Innovation Group plc (LSE: TIG.L), a global provider of business process outsourcing and software solutions to the insurance, fleet, automotive and property industries is pleased to announce the signing of a new technology contract for its Insurer Claims V.7 software and services with a Tier 2 insurance carrier in the US.
The full value of the contract, which commences immediately, is £3.0m ($4.7m). The contract comprises £0.3m ($0.5m) of licence revenue and £2.7m ($4.2m) of services which will be delivered and completed over the next 12 months.
Andy Roberts, Chief Executive Officer of The Innovation Group commented:
"I am delighted to announce yet further evidence of our progress in the US market place. This win not only demonstrates our growing momentum in this market, but also highlights the growing interest in both our software and services offerings. It is the combination of both of these offerings that provides us with our competitive edge and which provides our customers with the greatest value and benefit."
Enquiries:
The Innovation Group plc | Tel: +44 (0) 1489 898 300 |
Andy Roberts, Chief Executive Officer | |
Jane Hall, Group Finance Director | |
FTI Consulting | Tel: +44 (0) 20 7831 3113 |
Edward Bridges / Matt Dixon / Tracey Bowditch |
About Innovation Group:
The Innovation Group plc (LSE: TIG.L) is a global provider of business process outsourcing and software solutions to the insurance, fleet, automotive and property 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, 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's 2,300 people are located in the United Kingdom, Australia, Belgium, Canada, France, Germany, Japan, India, Pakistan, South Africa, Spain and United States. www.innovation-group.com
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