Contract Extension

 

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: [phone]     | 
| Hassan Sadiq, Chief Executive Officer   |                              | 
| Jane Hall, Group Finance Director       |                              | 
+-----------------------------------------+------------------------------+ 
|                                         |                              | 
+-----------------------------------------+------------------------------+ 
| Financial Dynamics                      | Tel: [phone]    | 
| 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 
   END 
 
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