22nd Mar 2011 07:00
22 March 2011
The Innovation Group plc
('Innovation Group' or the 'Group')
US Contract Win
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 contract, following an extensive evaluation and in-depth Proof of Concept project, for its newly released Insurer Claims and Insurer Analytics software with a tier one US insurer listed on the NYSE with revenues over $1 billion.
The new contract, which commences immediately is expected to generate software revenues of approximately $6.0m (£3.75m) over the next 18 months, plus on-going maintenance and support revenues and will see the Group provide the client with a full range of claims management and analytics capabilities. Insurer Claims will enable automation of current manual processes that will improve accuracy in claims handling, faster settlement and more effective customer service. Insurer Analytics will provide management information and dashboard reporting, real-time analytics and fraud management to assist in managing the client's business.
Welcoming the news Andy Roberts, Chief Executive Officer of The Innovation Group commented:
"I am delighted to announce that one of the most innovative insurers in North America has selected our newly released Insurer Claims and Analytics products. This contract evidences Innovation Insurer as one of the most advanced, flexible and effective claims management solutions in the market place"
Enquiries:
The Innovation Group plc | Tel: +44 (0) 1489 898 300 |
Andy Roberts, Chief Executive Officer | |
Jane Hall, Group Finance Director | |
Financial Dynamics | 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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