Last checked at 9 Oct 2014 07:00
9 October 2014
The Innovation Group plc
('Innovation Group' or the 'Group')
South Africa Fleet Contract Win
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 that it has been contracted by one of South Africa's leading banks to deliver managed maintenance services for South Africa's largest fleet of government vehicles.
The contract has a 5 year term and is estimated to generate R200m revenue (£11m). It will see Innovation Group managing all maintenance on more than 100,000 vehicles. The Group will implement managed maintenance claim services via the use of its contact centre and systems. Maintenance claims on these vehicles include all services to keep the vehicles on the road, from tyre and battery replacements to engine failures and accident management.
Innovation Group in South Africa has a substantial history of managing warranty, service and maintenance plans for manufacturers, dealers and financial institutions. This new business provides Innovation Group with a significant entrance into the fleet managed maintenance market and takes the number of vehicles under administration by Innovation Group South Africa to in excess of 1.1 million vehicles.
Andy Roberts, Chief Executive Officer of The Innovation Group, commented:
"We are delighted by this expansion of our South African business. Entry into managed maintenance services in South Africa deepens our penetration into the automotive market and serves as yet another example of Innovation Group's industry leadership and global scale."
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 Global Communications | |
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FTI Consulting LLP | Tel: +44 (0) 20 3727 1000 |
Edward Bridges / Matt Dixon / Rob Mindell |
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 2,800 people are located in the United Kingdom, Australia, Belgium, France, Germany, Spain, Poland, India, Pakistan, South Africa, Canada and the United States. www.innovation-group.com