Last checked at 7 Jan 2014 07:00
7 January 2014
The Innovation Group plc
('Innovation Group' or 'the Group')
Contract Renewal
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 a two year contract renewal with CIS General Insurance Ltd ("CISGIL").
The contract will see the Innovation Group continue to manage CISGIL's subsidence claims through its subsidence management services business. Based upon anticipated claims volumes and assuming normal weather conditions, the contract is expected to deliver £7m in revenue over the two year period.
Andy Roberts, Chief Executive Officer of The Innovation Group, commented:
"I am extremely pleased to be announcing this contract renewal with CIS General Insurance today. It follows a full market review and we are thrilled to continue our long-standing relationship with one of the leading insurers in the UK. Enriching the experience for their customers, whilst continuing to provide certainty around efficiency and cost, is fundamental to both of our organisations."
Lynn Day, Director of GI Operations at CISGIL, added:
"I am delighted to continue our relationship with The Innovation Group. We are tremendously proud of the first class service we provide to our customers through simplifying, shortening and enhancing the claims experience. The Innovation Group is a trusted partner in this segment who continue to hone their service proposition whilst maintaining quality and alignment towards our strategic objectives, allowing us to continue to put our customers' needs first."
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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 | |
FTI Consulting LLP | Tel: +44 (0) 20 7831 3113 |
Edward Bridges / Matt Dixon / Tracey Bowditch / Elodie Castagna |
About The Innovation Group plc:
Innovation Group (LSE: TIG) is a global provider of insurance software solutions and business process services. With revenues of £204.4m (US$332m) in 2013, it employs over 2,800 people across North America, Europe, Asia Pacific and South Africa and works with 15 of the top 20 global insurance markets, 16 of the top 20 global insurance companies and 3 of the world's top 5 fleet and lease management companies.
www.innovation-group.com