INNOVATION GROUP PLC
27 October 2014
The Innovation Group plc
('Innovation Group' or the 'Group')
Contract Win with Zurich Insurance Germany
The Innovation Group plc (LSE: TIG.L), a global provider of business process services and software solutions to the insurance, fleet, motor and property industries, is pleased to announce that it has secured a significant new Business Process Services ("BPS") contract win with Zurich Insurance in Germany ("Zurich"). The contract applies to Zurich's motor insurers Zurich Insurance plc Germany and DA Direkt Versicherung.
The initial contract term is two years, commencing 1 January 2015, with the option for Zurich to renew for an extended term.
Under the terms of the contract, Innovation Group will provide Zurich with access to the Group's nationwide network of vehicle repair bodyshops, to help further improve the cost-effectiveness and efficiency of fulfilling accident-related repairs required by Zurich customers. The Group will provide training to Zurich claims handlers to help them allocate repairs to the network. By using Innovation Group's platform, Zurich will also benefit from a complete web-based reporting tool that provides it with full visibility of all claims being processed, their status and all documents related to those claims as they progress to completion.
Commenting on the news Andy Roberts, Chief Executive Officer of Innovation Group said:
"This news further underscores the strength of our capabilities in Europe and the appeal our offer has to insurers of all sizes and stages of development. Zurich is one of the world's largest, most respected insurance groups and I am proud that they can see clear benefits to working with us in the motor space. Our team looks forward to beginning this roll-out and proving our abilities in the months ahead."
Dr. Jochen Kriegmeier, Chief Claims Officer of Zurich Germany said:
"As one of the leading multi-line insurers in Germany we are constantly looking at ways to improve our business operations and customer service. Giving our staff access to Innovation Group's repair network and management tools allows us to address both of these aims. This added visibility of the entire claims process will help us keep customers informed, while ensuring that claims are handled to a high quality standard and in a time-efficient manner."
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 3727 1000 |
Edward Bridges / Matt Dixon / Rob Mindell/ Karen Tang |
About The Innovation Group:
The Innovation Group plc (LSE: TIG.L) is a global provider of business process outsourcing and software solutions to the insurance, fleet, automotive and property industries. Innovation Group 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 Group has over 800 global clients including AXA, RSA, American Modern Insurance Group, LeasePlan, The Ford Motor Company, Aviva, Toyota and Zurich. The Group processes more than 4 million claims per year with 20 per cent direct claims cost saving achieved. Innovation Group's 2,300 people are located in the United Kingdom, Australia, Belgium, Canada, France, Germany, Japan, India, Pakistan, South Africa, Spain and United States.
www.innovation-group.com
About Zurich Insurance in Germany:
Zurich Insurance in Germany belongs to the worldwide operating Zurich Insurance Group. With premiums (2013) of more than €5.9 billion, capital investments of more than €31 billion and about 5,600 employees, Zurich Germany belongs to the leading insurers in the general and life insurance business in Germany. Zurich offers innovative insurance solutions to a customer base that spans individuals, small and medium sized businesses as well as large enterprises and multi-nationals.
DA Direkt is Zurich's direct motor insurer focusing on private lines. With around 1.6 million contracts and premiums (2013) of €303.8 million DA Direkt belongs to the leading car direct insurers on the German market.
www.da-direkt.de
This information is provided by RNS
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