Contract Extension
August 25 2009 - 2:00AM
UK Regulatory
TIDMTIG
RNS Number : 9272X
Innovation Group PLC
25 August 2009
25 August 2009
Innovation Group plc
Contract extension
The Innovation Group plc ('Innovation Group') (LSE: TIG.L), is pleased to
announce that following a successful initial one year contract to provide a
leading UK Insurer with its subsidence claims management solution, both parties
have today entered into a new five year contract.
This new contract will see Innovation Group provide its market leading
subsidence claims management solution, helping the UK-based insurer to improve
its own operational efficiency, enhance customers' claims experience and
optimise savings in claims costs associated with this service.
The extended five year contract is expected to generate revenue of approximately
GBP3.5m for Innovation Group, recognisable over the period.
Announcing the contract extension Hassan Sadiq, Chief Executive Officer of
Innovation Group commented:
"We are delighted to announce this extended relationship, further proving our
ability to provide some of the biggest names in the insurance industry with
solutions that can not only boost their efficiency but also enhance their
customer service. Moreover, the fact that a market leading and well respected
household brand insurer has chosen to sign a five year contract after having
used our subsidence claims management solution for just one year attests to the
quality and effectiveness of our product."
Enquiries:
+-----------------------------------------+------------------------------+
| The Innovation Group | Tel: +44 (0) 1489 898300 |
| Hassan Sadiq, Chief Executive Officer | |
| Jane Hall, Group Finance Director | |
+-----------------------------------------+------------------------------+
| | |
+-----------------------------------------+------------------------------+
| Financial Dynamics | Tel: +44 (0) 20 7831 3113 |
| Edward Bridges / Erwan Gouraud / Matt | |
| Dixon | |
+-----------------------------------------+------------------------------+
Notes to Editors
About Innovation Group
Innovation Group plc (LSE: TIG.L) is the leading provider of enterprise
software, business process outsourcing and repair and service network management
solutions to the global Property and Casualty industry. Innovation 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 has over 1,000 global clients including AXA Insurance, RSA, AAA NCNU,
LeasePlan, The Ford Motor Company, Aviva, Toyota (South Africa) and Zurich (UK).
The Group processes more than 4 million claims per year with 20% direct claims
cost saving achieved. Our 2,400 people are located in United Kingdom, Australia,
Belgium, Canada, France, Germany, Japan, Netherlands, Pakistan, South Africa,
Spain, United States.
www.innovation-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
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