SOURCE: Innovation Group

Innovation Group

February 16, 2011 11:15 ET

Innovation Group Receives 'Positive' Rating in Leading Industry Analyst Firm's 2011 MarketScope on North American Property and Casualty Insurance Claims Management Modules

FARMINGTON, CT--(Marketwire - February 16, 2011) -  The Innovation Group plc (Innovation Group), a global provider of business process outsourcing (BPO) and software solutions to the insurance, fleet, automotive and property industries, today announced that Insurer Claims, a component of the Innovation Insurer suite, was evaluated by Gartner and the company received a "Positive" rating in the January 2011 Gartner MarketScope for North American Property and Casualty Claims Management Modules report. 

The MarketScope report evaluated vendors based on criteria Gartner recommends insurers consider when looking at a new claims management module. The report notes that "buying decisions, however, are often challenging, due to the high number of new entrants into the market, the importance of assessing the R&D road maps of the vendors to ensure that they have appropriate vision to stay ahead of market demands, and concerns about de-risking application purchases when buying from small vendors that lack implementation track records, have limited implementation staff and lack financial stability." 

Further noted in the report, "for optimal operations, claims management systems must support the entire claims life cycle. This includes a set of functions, tasks and subtasks that handle first notice of loss (FNOL), imaging, reserve setup, assignment, policy coverage and verification, litigation, and settlement (for example, closed recoveries)." Moreover, "Insurers considering a claims administration solution should weigh a number of criteria in evaluating business functionality and technology architecture. In addition to basic functionality, modules are emerging that include next-generation features, such as mobile support, portal enablement and an advanced user interface (UI)."

"Insurer Claims offers the industry a modern, functionally and delivery-rich solution that enhances the moment of truth for insurers when claims defines the value of the insurer's brand," said Euan King, CEO North America Technology, at Innovation Group. "With today's fast changing market, insurers must look beyond just claims system replacement to a broader claims management solution. Insurer Claims offers insurers greater agility and flexibility via delivery options and integration with our BPO services, providing one of the strongest total claims management solutions in the industry."

Insurer Claims is a comprehensive claims management solution that supports the entire claims life cycle. It includes a refreshed user interface (UI), usability enhancements, wireless applications for iPhone, additional industry standard integrations, dynamic question sets for optimal service, configuration-driven screens, and architectural support for external portal functionality for customers. 

Uniquely, Insurer Claims can be delivered via on-premise, ASP, BPO or Software-as-a-Service (SaaS), and integrated to Innovation Group's extensive repair network for auto and property, part of their BPO services, providing a powerful solution in the drive for claims transformation. Innovation Group's experience in offering Insurer Claims via SaaS and BPO for over 100 insurers in other regions can be leveraged in North America. 

About the MarketScope
The MarketScope is copyrighted 2011 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About The Innovation Group plc:
The Innovation Group plc (LSE: TIG.L) is a global provider of business process outsourcing and technology solutions to the insurance, fleet and automotive 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 Insurance, RSA, Encompass, Esurance, Hertz, CNA, Main Street America Group, 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

Contact Information

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    Innovation Group
    Jennifer Overhulse-King
    St. Nick Media Services
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