SOURCE: Innovation Group

Innovation Group

May 12, 2011 14:15 ET

Innovation Group Recognized With a 2011 Insurance IT RAVE Award for Insurer Claims

Selection Based on Innovation's Novarica Silver ACE Ranking for Insurer Claims

FARMINGTON, CT--(Marketwire - May 12, 2011) - The Innovation Group plc (Innovation Group), a global provider of business process outsourcing and software solutions to the insurance, fleet, automotive and property industries, today announced the company's Insurer Claims solution has been recognized with a 2011 Insurance IT RAVE Award.

This year's Insurance IT RAVE Awards are co-sponsored by Tech Decisions and Novarica and are based on 2010 Novarica Average Customer Experience (ACE) Rankings. The Novarica ACE Ranking is derived from an online survey of senior technology and operational executives at three insurer clients who have direct experience with the vendor product and organization. Novarica Silver ACE Rankings are based on a minimum of five client responses.

"Innovation Group's recognition with the RAVE award reflects their impressive scores from a strong customer base, with an especially strong score for the quality of their staff," said Matthew Josefowicz, partner and managing director of Novarica, and lead researcher for the Novarica ACE Rankings.

The Novarica ACE Ranking Report™ on Insurer Claims noted Innovation Group's staff earning a score of 92, with overall customer satisfaction and organization rating 90 out of a possible 100. This score highlights Innovation Group's knowledge of the industry, product and customer needs, as well as having the customer's business success and voice in the product development as priorities. Most impressively, Insurer Claims received an 89, a very strong and competitive rating as compared to peers.

"The RAVE awards highlight solutions with enthusiastic customers that see the business value within their companies," said Jim Daggett, publisher of TechDecisions. "Innovation Group's inclusion highlights their growing customer base, business value and growing market presence. As noted by one customer, 'they are very accommodating and always available to cater to our needs whenever it is required.'"

"We appreciate this recognition, the growing interest in Insurer Claims, and the broader business value it brings to insurers because it supports the entire claims process," said Euan King, CEO North America Insurer Group. "Our solutions offer insurers greater flexibility, and agility to change with shifting market conditions, offer delivery options, integration with BPO services, or use of best practices included in Insurer Claims based on Innovation Group's processing of over 4 million FNOL claims and 10 million distributions in 2010 in the U.S. market. Together, these bring depth and breadth of new ideas, options, capabilities and continuous innovation on a platform to help insurers of all sizes compete in today's new normal."

Insurer Claims is built on a JEE SOA platform that supports the end-to-end claims management process including first notice, settlement, supply chain management, subrogation, litigation, fraud and analytics. Innovation Insurer components, Insurer Policy, Insurer Claims and Insurer Analytics, have been widely recognized over the last year with a wide array of awards including Celent Model Insurer, Vanguards in Insurance Practice (VIP), Novarica ACE ranking, and now the RAVE award.

About The Innovation Group plc:
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 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

About Novarica
Novarica provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives. The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica's research includes market and trend analyses, best practices research, case studies, and independent analyses of insurance software vendors. Novarica draws its knowledge from the personal experience of its principals, the ongoing information-gathering initiatives of dedicated research staff, and regular communication with insurer executives through informal networks and through the Novarica Insurance Technology Research Council, a community of more than 225 insurer CIOs and senior executives. For more information, visit Novarica.com.

About Tech Decisions
Tech Decisions, published by Summit Business Media, guides top-level insurance technology and business professionals in managing their companies' systems on a day-to-day basis and informs their decision-making for the future. Tech Decisions helps readers leverage time-tested as well as leading-edge technology products, systems, and strategies -- and in making the best decisions to fulfill the business and profitability needs of today's insurance and financial services marketplace. For more information, visit PropertyCasualty360.com.

Contact Information

  • Innovation Group Contact:
    Innovation Group
    Jennifer Overhulse-King
    St. Nick Media Services
    +1 859-803-6597
    Email Contact

    Novarica Contact:
    Matthew Josefowicz
    Director, Novarica
    Lead Researcher, Novarica ACE Rankings
    212-419-2520
    Email Contact

    Tech Decisions Contact:
    James Daggett
    Publisher
    Tech Decisions
    631-775-0440
    Email Contact