Team Internet Regulatory News (TIG)

1 April 2015

The Innovation Group plc

("Innovation Group" or the "Group")

New Insurer Suite Client Win

The Innovation Group plc (LSE: TIG.L), a global provider of software solutions and business process outsourcing to the insurance, fleet, automotive and property industries, is pleased to announce that it has secured a new client win with a Tier One European Motor brand.

This contract is the first of a number of expected software contracts over the coming quarter. It commences with immediate effect, and is valued at £3.6m with £2.5m being recognised over the next 12 months. The contract was agreed following an extensive and competitive selection process and Innovation Group was chosen as the best partner to support the client with this important business transformation.

Innovation Group will provide the client with its full suite of Insurer software products, Insurer Policy, Insurer Claims and Insurer Analytics.

Andy Roberts, Group CEO of Innovation Group commented: 

"Following our significant investment in major bids, this new client win is a sign of the strong operational and sales momentum in our software business. It illustrates the quality of our management team and demonstrates our new business structure is working well.

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About The Innovation Group:

Innovation Group (LSE: TIG) is a global provider of insurance software solutions and business process services. With revenues of £209.8m and adjusted PBT of £27.5m in 2014, it employs over 3,000 people across the UK, Europe, North America, Asia Pacific and South Africa and works with 15 of the top 20 global insurance markets, 75% of the top 20 global P&C insurance companies and 3 of the world's top 5 fleet and lease management companies.

www.innovation-group.com