23rd Jul 2009 07:00
23 July 2009
Innovation Group plc
Contract Win with Leading UK-based Insurance Group
The Innovation Group plc ('Innovation Group') (LSE: TIG.L), and their Partner, Symbility Solutions Inc., a wholly owned subsidiary of Automated Benefits Corp. (TSX-V:AUT), are pleased to announce that following a successful pilot, they have been awarded a contract to provide RSA Insurance Group plc (RSA) with a unique mobile and desktop building claims triage and scoping solution.
The contract, enabled by the combination of Innovation Group's intellectual property and Symbility's skills and assets, provides RSA with a streamlined end-to-end solution for the scoping and cost management of building repairs, helping to improve operational efficiency by shortening the claim cycle and enhancing the customer experience.
The solution, implemented in the UK for the first time, was proven in the pilot to reduce indemnity spend, giving the insurer a strategic and competitive advantage in claims cost control.
The contract is anticipated to generate revenue of £4m to Innovation Group, the majority of which will be recognised during this financial year, underpinning current expectations.
Hassan Sadiq, Chief Executive Officer of Innovation Group, commented:
"We are delighted about this announcement, which adds even more value to one of our already strong customer relationships. Through the partnership with Symbility, we have been able to give RSA a seamless, automated and cost effective claims fulfilment process that delivers real financial and service benefits."
"We believe that this solution provides the best combination of mobile and desktop claims management enabling all parties to a claim to work optimally," states Steven Maddock, UK Technical Claims Director of RSA Insurance Group plc. "This innovation will enable us to answer our customers' needs quicker, more efficiently and at a better cost. We will drive quality into all elements of our operation, reduce our costs and improve our overall customers' claims experience."
Enquiries:
|
The Innovation Group Hassan Sadiq, Chief Executive Officer Jane Hall, Acting Group Finance Director |
Tel: +44 (0) 1489 898300 |
|
Financial Dynamics Juliet Clarke / Erwan Gouraud |
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
About Symbility Solutions
Symbility Solutions, based in Toronto, Ontario, automates property insurance claims through its two complementary components. Its award-winning mobile claims solution is an estimating tool that increases speed, efficiency and accuracy by allowing on-site claims processing. Symbility.NET is the collaborative workflow management tool that gives every claim participant real-time access to the claims they are working on. The Symbility solution gives users the mobility, speed and control they need to effectively and quickly move onto their next claim.
www.symbilitysolutions.com.
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