IBM Signs 10-Year IT Outsourcing Agreement With Innovation Auto Risk
July 13 2009 - 10:30AM
PR Newswire (US)
Deal to support company's expansion plans while reducing its
capital expenditure on IT by 25 percent BANGALORE, India, July 13
/PRNewswire-FirstCall/ -- IBM (NYSE:IBM) today announced that it
has signed a 10-year information technology (IT) outsourcing
agreement with Innovation Auto Risk, an established leader in the
Indian market providing claims management services and other
related solutions to insurers and fleet management companies. To
support its growth and expansion plans, Innovation Auto Risk was
seeking an IT solution provider that could supply and manage its IT
infrastructure in a resilient yet cost-effective fashion. (Logo:
http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO ) As part of
the agreement, IBM will deploy server, storage, networking and
security IT infrastructure to be hosted at a data center in Delhi.
IBM will provide 24x7 onsite infrastructure monitoring services
from an onsite command center. In addition, IBM will provide
managed services and ongoing project management for infrastructure
procurement, commissioning and configuration, as well as hardware
refreshes after five years. Innovation Auto Risk, headquartered in
Delhi, has claims servicing operations across India. It is a joint
venture between Auto Risk Management Services Pvt. Ltd., an
established leader in the Indian market providing pre-risk
inspection services and other related insurance services, and
Innovation Group plc., a leading provider of enterprise software,
business process outsourcing (BPO) and repair and service network
management solutions to the global Property and Casualty industry.
IBM put together a customized end-to-end managed services package
and introduced Innovation Auto Risk to an operating-expense driven
model, rather than capital-expense driven model. This allowed the
company to pay IBM as-it-grows its business operations thus
removing the need for large capital influx to sustain its growth
and expansion. This agreement aims to reduce Innovation Auto Risk's
capital expenditure on IT by 25 percent. Jyothi Satyanathan -
Country Manager - ibm.com, IBM India/South Asia remarked, "With
businesses highlighting and focusing on cost-efficiency in these
challenging times, IBM has once again proven its partnership value
for small and mid-sized customers. Innovation Auto Risk needed to
build a robust infrastructure to address the growing claims
processing requirements of their customers and we were able to
provide this using a unique model that helped them grow without the
headaches of managing their back-end and the need for huge capital
requirements." "We are delighted with our agreement with IBM and
believe its technology expertise and focus on delivering
cost-efficient solutions will help us achieve our growth strategy
and higher levels of customer satisfaction," said Manu Mehta,
Director, Innovation Auto Risk. "We maintain a stable organization
built on a foundation of experience and are committed to give our
customers the benefits of the highest levels of service without
losing focus on our core businesses. Since we offer cost-effective
solutions to insurers helping them to reduce claims cost, we
ourselves have to keep our costs at check while introducing latest
technologies in India to our customers, in which case IBM helped us
to achieve that," he added. India auto claims are rising with the
non-life market for insurance in India estimated at 7 million
incidents annually. Innovation Auto Risk address the market
requirement for improved claims processes to deal with these rising
volumes while providing improved customer service, fraud management
and business analytics services. The agreement was signed in the
second quarter of 2009. About Innovation Group plc. 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 centers, repair networks,
process management, supply chain and technology operations along
with 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 of
Northern California, 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. Innovation achieved
revenues of UK 143 million pounds in the financial year ending
September 2008. http://www.innovation-group.com/ About Auto Risk
Management Pvt Ltd Headquartered in New Delhi, Auto Risk was
incorporated and commenced its operations May, 2002 and works with
a team of 1400 people across 489 locations managed by 29 offices. A
leading service provider in underwriting Motor & Marine claim
Management Motor (OD &TP) investigation & Asset valuation
for banks & Financial Institution Auto Risk supports non life
Insurance companies and are a leading service provider (BPO) in
underwriting (Motor & Marine), claims management (Motor OD
&TP), all investigations & assets valuation for banks and
financial institutions. http://www.autorisk.net/ About IBM For more
information, visit http://www.ibm.com/services. Media Contacts:
Sowmya Ramachandran IBM India/South Asia Mobile: +91-9880309691
Goldie Srivastava IBM India/South Asia Mobile: +91 9845181220
http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO
http://photoarchive.ap.org/ DATASOURCE: IBM CONTACT: Sowmya
Ramachandran, , Mobile: +91-9880309691; or Goldie Srivastava, ,
Mobile: +91 9845181220, both of IBM India/South Asia Web Site:
http://www.ibm.com/services http://www.innovation-group.com/
http://www.autorisk.net/
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