SOURCE: IBM

September 06, 2007 09:47 ET

IBM and Innovation Group Open New Center of Excellence in India to Help Insurance Companies Transform Their Business

BANGALORE, INDIA, and NEWTON, MA--(Marketwire - September 6, 2007) - IBM (NYSE: IBM) and Innovation Group (LSE: TIG) today launched a new Global Insurance Center of Excellence in Bangalore, India, to help companies innovate on next generation core systems, develop new business models, and tap emerging technologies to create competitive advantage and improve the customer experience.

The new center, based at IBM's Bangalore campus, provides clients with systems integration services based on Innovation Group's Innovation Policy and Innovation Claims software applications that deliver high quality, low-risk, and cost effective solutions for the enterprise.

"The new Global Insurance Center of Excellence and an increased focus on our IBM relationship is a response to the success of the partnership in the last 24 months. Our current and prospective customers appreciate the provision of deeper capabilities and the flexibility we offer together in serving the global insurance market. The acceleration of our relationship has been in direct response to our joint customers as well as demand from prospective clients for Claims and Policy Administration Solutions in many key markets," said Ed Ossie, President of Innovation Group.

The new center builds on IBM and Innovation Group's existing partnership to streamline delivery capabilities and meet the growing demand for new core systems based on Innovation Group's application software and IBM System z mainframes and System p servers.

"Insurance companies require core systems that are open, flexible, scalable and secure," said Norbert Dick, General Manager, Insurance Industry, IBM. "The combination of IBM and Innovation Group technologies coupled with IBM's systems integration leadership will help joint clients achieve a single view of their customers, lower operating costs, and streamline risk management across the enterprise."

For more information about IBM insurance solutions visit www.ibm.com/insurance.

About Innovation Group

Innovation Group (LSE: TIG) provides technology-enabled outsourcing services and software solutions to insurers and other risk carriers through its international network of offices. With more than 2000 professionals serving the global Property & Casualty insurance market, the Group has an expansive portfolio of proven capabilities for handling the breadth of administrative processes, including software technology for both policy management and claims administration. Innovation Group technology solutions are installed in 11 countries worldwide, and used by more than 25,000 people processing more than 20 million policies and millions of claims annually. The company's technology solutions can be utilized in connection with the Group's world-class outsourcing operations or implemented on a stand-alone basis.

Innovation Group has offices in the United Kingdom, Continental Europe, South Africa, Japan, Australia and North America, and delivers services for some of the largest insurance businesses in the world, including Aviva, Auto Club of Southern California, Ford Motor Company of South Africa, Toyota (South Africa), Halifax General Insurance, The Insurance Australia Group, Jaguar Drive Plan (South Africa) AXA Insurance, Royal Sun Alliance, Sonpo 24 Insurance (Japan) and Zurich (UK). For more information, please visit www.innovation-group.com.

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