Last checked at 30 Nov 2012 07:00
RNS REACH
30 November 2012
The Innovation Group plc
('Innovation Group' or the 'Group')
European Motor Contract Wins
- Group announces first contracts for its recently released technology products for Motor -
- Sales secured with UK's leading mobile accident repair provider and a leading German bodyshop franchise system -
The Innovation Group plc (LSE: TIG.L), a global provider of business process services and software solutions to the insurance, fleet, automotive and property industries, is pleased to announce the first contract wins for its recently released suite of technology products designed for customers in the Motor segment.
The wins represent the first contracted sales secured by the Group for Insurer Rapid Assess and Insurer Gateway: two products recently demonstrated at the Group's 'Motor Strategy Update' event in September of this year. The combined contract value is approximately £0.6m being a combination of up-front licence revenue and transactional fees to be earned over the next eighteen months.
The first contracted sale of Insurer Rapid Assess has been secured in the UK with AutoRestore: the UK's largest mobile bodyshop network. Insurer Rapid Assess is a high-speed damage estimating system, which enables users to visually capture the damage done to a vehicle and immediately generate a cost assessment for its repair. Under the terms of its contract with the Group, AutoRestore will implement the product in two ways: first, via its website to manage inbound customer enquiries, and secondly, by deploying it within the AutoRestore business across its technician employee base.
The first contracted sale of Insurer Gateway has been secured in Germany with one of Germany's leading bodyshop franchise systems. Insurer Gateway is a software product, which enables users across the accident repair chain (such as insurers, repairers, assessors and fleet or hire companies) to communicate and collaborate via mobile devices. The client will deploy Insurer Gateway across its bodyshop network.
Commenting on the contract wins, Innovation Group CEO Andy Roberts said:
"We are proud to announce the first sales of our new Motor products after just one month in the market. The UK and Germany represent two of the world's most dynamic, most demanding Motor marketplaces. It is significant that our first new product sales in these countries are with two best-in-class organisations that are not insurers. This speaks not only to the quality of our offering but also to the breadth of the opportunity here, with products that enable us to have meaningful engagements with organisations right across the Motor and accident management value chain. I congratulate our team on this success, and look forward to making further progress in Motor in the year ahead."
- Ends -
Enquiries:
The Innovation Group plc | Tel: +44 (0) 1489 898 300 |
Andy Roberts, Chief Executive Officer Jane Hall, Group Finance Director Louise Fisk, Head of Communications, PR & Marketing
| |
FTI Consulting | 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 services 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