Team Internet Share News (TIG)

Innovation Group, which provides business process outsourcing and software to insurance, car and property industries, has won a five-year contract with Direct Line Insurance, the UK's largest personal lines insurer. The contract, which will contribute around £5m to Innovation's revenues over the term, will see Direct Line use Innovation Symbility to process and progress its domestic property insurance claims in order to provide a single, transparent claims experience to its customers. "This contract win follows a detailed proof of the benefits Innovation Symbility software delivers to all participants in the claims cycle," said Chief Executive Officer Andy Roberts. "Providing a SaaS [software-as-a-service] solution on this scale clearly demonstrates our ability to provide leading edge application solutions to the world's largest carriers."Shares rose 2.47% to 20.75p in mid-morning trade. NR/BC