Last checked at 14 Nov 2012 07:00
14 November 2012
The Innovation Group plc
('Innovation Group' or the 'Group')
New US 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 the signing of a new contract in the US for its Insurer Claims and Insurer Analytics software.
The contract, which commences immediately, has been signed with a fast growing Tier 2 property insurer in the US. The contract is valued at approximately £2.75m ($4.4m) of which £2.0m ($3.2m) will be recognised as licence and implementation revenue in the current FY 2013 financial year, with the remainder attributable to a five year maintenance contract.
The contract will see the customer use the Insurer Claims solution to support its multiple channels. Insurer Analytics will provide it with business intelligence, dashboard reporting, and real-time analytics to assist it in managing the business.
Andy Roberts, Chief Executive Officer of The Innovation Group, commented:
"I am extremely pleased to welcome this business to our customer base in the US. This customer is an innovative US insurer and we're proud to be working with such a dynamic team. Today's agreement further underpins the robust, flexible, and end-to-end claims management capabilities of our Insurer Suite. We all look forward to demonstrating Insurer's power and ability as we help our client enhance its business operations and achieve its business goals."
Enquiries:
The Innovation Group plc | Tel: +44 (0) 1489 898 300 |
Andy Roberts, Chief Executive Officer | |
Jane Hall, Group Finance Director | |
FTI Consulting LLP | 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