29th Jun 2007 07:01
Innovation Group PLC29 June 2007 29 June 2007 THE INNOVATION GROUP PLC Contract Win The Innovation Group plc ("the Group"), which provides outsourcing services andsoftware solutions to the world's insurance markets, today announces a majoroutsourcing contract with Royal & SunAlliance - one of the world's leadinginsurance groups. The contract will involve the Group providing Royal & SunAlliance with UK claimshandling expertise in the area of subsidence. Based upon anticipated transactionvolumes, it is estimated that the contract will be worth more than £25 millionover its five-year lifespan. The contract will commence in July. Hassan Sadiq, Chief Executive Officer of The Innovation Group plc, said: "We are delighted that such a major insurer as Royal & SunAlliance has chosen usto handle its subsidence claims - an area in which we have great expertise. Theyhave clearly recognised our ability to drive down the cost of processing claimswhile retaining a high level of service. "Furthermore the contract demonstrates the breadth of opportunity available tous as we pursue our strategy of becoming the leading outsourcing serviceprovider to the wider insurance industry." Enquiries: The Innovation Group plcHassan Sadiq, Chief Executive Officer +44 (0) 1489 898300Paul Hemsley, Group Finance Director College Hill Associates LtdSara Musgrave +44 (0) 20 7457 2020Carl Franklin This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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