INNOVATION GROUP SIGNS NEW DEAL FOR THE SYMBILITY CLAIMS SCOPING AND MANAGEMENT TOOL FOR PROPERTY CLAIMS
Innovation Group and Symbility Solutions Inc. have signed a new distribution agreement for the market-leading Symbility software solution for handling property insurance claims.
Under the terms of the deal, Innovation Group will be the sole provider of sales, marketing, hosting and implementation services. As well as providing these services, Innovation Group will continue to exploit the solution within its own outsourced claims handling operations.
Since forming their original partnership the two companies have developed theTriage module to add to the Symbility application suite. This product was specifically designed for desk based claims handlers and the working methods of UK property insurers. Several more exciting enhancements that will further differentiate the product for insurers, adjusters and contractors are on the immediate horizon for delivery.
Alongside the new distribution agreement, Innovation Group also announced that RSA Insurance Group plc (RSA) has expanded its use of Symbility in a move which increases the level of automated claims handling across RSA's UK property insurance business. Meanwhile, in the North American market in November 2010, Symbility announced a multi-year deal with Zurich subsidiary, Farmers Insurance Exchange, the third largest motor and property insurer in the USA with 15 million customers and 24,000 employees.
"There is real momentum building as insurers, adjusters and contractors seek to enhance their collaboration in property claims handling to eliminate wastage and drive savings. Symbility gives all participants a single view of the claims data, whether they are in the office, working in a call centre, on the move or on site with a policy holder or contractor. That is the first step to stripping out inefficiencies from the claims value chain. Our Symbility technologies unify the process, strengthen management of scope and pro-actively manage all cost elements to enhance the customer experience whilst reducing cost for insurers," said Paul Irvin, head of UK property at Innovation Group.
In addition to the RSA deployment, Innovation Group says it has several insurers, adjusters and contractors actively undertaking proof of concept studies of the Symbility solution.
"Innovation Group has added real value to the core Symbility product offering through its local market knowledge and specifically the Triage module which suits the UK market so well. With a successful implementation of the entire Symbility product suite at RSA, our partnership has a great opportunity to continue our momentum in the UK and leverage this platform for further expansion into the European market" said Richard Adair, executive vice president of Symbility Solutions Inc.
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 and 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
The Innovation Group plc
Tel: +44 (0) 1489 898 300
Tel: +44 (0) 207 256 6992
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