FARMINGTON, CT--(Marketwire - Nov 27, 2012) - The Innovation Group plc (Innovation Group) today announced Insurer Claims and Insurer Analytics, components of the Innovation Insurer suite, were selected by Homesite Group Inc. (Homesite) to replace the company's claims administration systems.
After implementation, Innovation Group's software will provide a business platform that will support Homesite's continued innovation and growth in the personal lines property insurance market. Specifically, the out-of-the-box capabilities of Insurer Claims will be employed to speed implementation.
"Consistently delivering on our promise of exceptional claims service is a critical aspect of Homesite's business," said Peter B. Settel, SVP and CIO for Homesite. "For our customers, and our distribution partners, the claims experience defines our value proposition. Innovation Group's Insurer Claims and Insurer Analytics technology have impressed us throughout the evaluation and selection process. As we migrate from our custom-developed claims platform, we expect key benefits in time-to-market and out-of-the-box capabilities. Beyond that, we are focused on enhanced analytics to support claims management, as well as product development and pricing. Innovation Group's technology fits well with our overall architecture and we are excited to partner with them as we continue to innovate and improve the overall customer experience."
Homesite is a national, full-service property insurer focused exclusively on the homeowners, condominium and renters markets. Homesite markets products through partnerships with leading providers of insurance and financial products which are sold either on a private-label basis or under the Homesite brand. Homesite differentiators include providing technology-based, integrated relationships with partners, flexible multi-channel sales and servicing capabilities, ensuring industry-leading pricing and exposure management, and providing a brand-enhancing customer experience.
"This is just the beginning of a long-term partnership with Homesite that builds on the core values of innovation, providing industry-leading technology and striving for customer service excellence," said Euan King, CEO North America Insurer Software for Innovation Group. "Insurer Claims and Insurer Analytics will enhance Homesite's business performance, and help them continue to innovate in a fast-changing market environment, while supporting their broadening customer and partner relationships, and ensuring they are always future-ready."
Insurer Claims and Insurer Analytics are uniquely designed to help insurers effectively and efficiently manage the end-to-end claims process while also providing supply chain, fraud detection, catastrophe management, insurance-specific analytics across the claims process and out-of-the-box capabilities to speed implementation and drive a lower total cost of ownership (TCO). Insurer Claims and Insurer Analytics were recognized in 2010, 2011 and 2012 with Celent Model Insurer, VIP awards, Insurance IT RAVE awards and three outstanding Novarica ACE Rankings.
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, 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