Innovation Group enters into five-year contract with UK insurer

Tue. August 25, 2009; Posted: 01:04 PM

Aug 25, 2009 (Datamonitor via COMTEX) -- IOVTF | Quote | Chart | News | PowerRating -- The Innovation Group, a provider of enterprise software, business process outsourcing solutions, has entered into a new five-year contract with a UK-based insurer.

This new contract will see Innovation Group provide its subsidence claims management solution, helping the UK-based insurer to improve its own operational efficiency, enhance customers' claims experience and optimize savings in claims costs associated with this service.

The extended five-year contract is expected to generate revenue of approximately GBP3.5 million for Innovation Group, recognizable over the period.

Hassan Sadiq, CEO of Innovation Group, said: "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."

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