Last checked at 1 Oct 2013 07:00
1 October 2013
The Innovation Group plc
('Innovation Group', 'Innovation' or the 'Group')
Major UK Customer Win
- Seven year, £75m net revenue contract -
- Innovation to handle all residential subsidence claims from October for one of the UK's largest insurers -
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 secured a significant contract with one of the UK's largest insurers.
The contract, which has been signed and will be effective from 1 October, will see Innovation Group handle all of the insurer's domestic subsidence claims over the course of the next seven years, as well as take over the handling of outstanding subsidence domestic claims being processed by incumbent suppliers.
Total net revenues to the Group from this contract over its term are estimated at approximately £75m.
Andy Roberts, Chief Executive Officer of Innovation Group commented:
"I am delighted to announce the signing of this substantial contract, which is the clearest confirmation yet of the strength of our offer. The subsidence claims management service we provide is unrivalled in the market, enabling clients to secure a true competitive advantage. We look forward to starting work on this exciting project and I hope that our work, and the results it generates, will send a clear signal to carriers here and abroad about the value of our offering and capabilities."
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 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 £193m (US$ 302m) in 2012, it employs over 2,400 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