10th Nov 2006 17:19
Innovation Group (LSE:TIG), a global provider oftechnology-enabled outsourcing and technology solutions to theproperty and casualty industry, announced that it has acquired 100% ofSurePlan International Pty Ltd, an Australian-based holding company,which owns a 51% controlling interest in SurePlan USA, Inc.('SurePlan'), a leading supplier of outsourced claims managementservices to the vehicle leasing and fleet industry in the UnitedStates. The Group previously acquired SurePlan Australia Pty Ltd. inMay 2006. £ SurePlan provides accident management, claims management, vehiclerental, roadside assistance, appraisal, and risk management solutionsto leading U.S. leasing and fleet organizations. In line with theGroup's strategy, the acquisition establishes an outsourcingcapability for motor insurance in the US that includes first notice ofloss, assessing services deployment, motor accident management,subrogation (third party loss recovery), rental vehicle deploymentsand management, glass repair management, and roadside assistancemanagement. £ "The acquisition of SurePlan enables Innovation Group to extendour presence in the US beyond the provision of traditional policy andclaims software," said Hassan Sadiq, Chief Executive Officer ofInnovation Group. "SurePlan's leading market position within the USmotor claims market mirrors the successful capabilities of the Group'soperations worldwide." £ Innovation Group provides specialized outsourcing and SOA-enabledtechnology solutions that enable insurers to modernize, transform andmanage the core systems that drive policy administration and claims.Until recently most of the Group's business in North America wasfocused on the delivery of software and technology solutions totraditional P&C carriers. On November 2, the company announced it hadentered into an agreement (subject to certain conditions) to acquireBoston-based First Notice Systems, Inc. ('First Notice'), a leadingprovider of claim-reporting outsourcing services and software to theP&C market. The combination of the assets of First Notice and SurePlanis expected to give the Group extended capabilities across many areasof motor vehicle accident and risk management outsourcing in the U.S.market. £ About Innovation Group £ Innovation Group (LSE:TIG) provides outsourcing services andsoftware solutions to insurers and other risk carriers through itsinternational network of offices. The Group has assembled a portfolioof important assets comprising a set of software-led businessprocesses for the handling of the breadth of the administrativeprocesses of insurers and risk carriers. These include back officefunctions such as claims management and sales, as well as softwaretechnology for both policy and claims administration that can beutilized in connection with the Group's outsourcing operations andimplemented on a stand-alone basis. £ The Group has offices in the United Kingdom, Continental Europe,South Africa, Japan, Australia and North America, and deliversservices for some of the largest insurance businesses in the world,including Aviva, Auto Club of Southern California, Ford Motor Companyof South Africa, Toyota (South Africa), Halifax General Insurance, TheInsurance Australia Group, Jaguar Drive Plan (South Africa) AXAInsurance, Sonpo 24 Insurance (Japan) and Zurich (UK). £ For more information, please visit www.innovation-group.com. £ About SurePlan £ Starting out in 1993 in Australia, with a core business incollision and claims management, SurePlan developed a total riskmanagement methodology to help leasing and fleet providers managetheir collisions in the most cost effective manner. SurePlan hascustom built its business model and underpinned it with technologyspecific to the collision management and risk management processesthat helps organizations to prevent and deal with the consequences ofmotor vehicle collisions. Its system, FastTrack, is generally regardedas representing Best Practice. £ In 2002, within a joint venture with Streets Ahead, the companydeveloped FleetProtect, a fully automated fleet risk managementsystem, the only computer-assisted driver risk audit and drivercoaching system available in the country. In 2002, SurePlan beganoperations in New Zealand and in 2005, the company entered the U.S.market. £ SurePlan's distinctive staff structure includes a number of claimsspecialists, risk management experts, and loss adjusters, with manyyears of experience in the insurance and fleet industries. They ensurethat all of the company's operational staff are extensively trained toassist drivers through the somewhat daunting collision management andrepair process. Copyright Business Wire 2006Related Shares:
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