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Innovation Group PLC  -  TIG   

UK Contract Renewal

Released 07:00 02-Jul-2013

RNS Number : 3471I
Innovation Group PLC
02 July 2013

2 July 2013


The Innovation Group plc


('Innovation Group' or the 'Group')


UK Contract Renewal


The Innovation Group plc (LSE: TIG.L), a global provider of business process services and software solutions to the insurance, fleet, automotive and property industries, is pleased to announce the renewal of its contract with Enterprise Rent-A-Car for a further five years.


The contract, valued at £25 million net revenue over the five year period, will see the Innovation Group continue to deliver a bespoke service to Enterprise-Rent-A-Car, whereby it handles claims on behalf of the Company, as it has done for the last four years. This new deal will also see the Group run a dedicated call centre to help arrange hire cars for the affected party and where necessary, also arrange for the repair of the vehicle.


Enterprise Rent-A-Car is the largest car rental brand in the UK and North America and has a growing presence in Europe. Under the five year contract renewal, Innovation Group will manage more than one million claims for the Company.



Andy Roberts, Chief Executive Officer of Innovation Group, commented:


"We are delighted by this contract renewal with Enterprise Rent-A-Car, following an already successful four year partnership. This is the perfect demonstration that our long term partners continue to find value in our technology solutions, operating model and high quality service which facilitate their overall business growth. We look forward to continuing to deliver the best claims' process management solutions that Enterprise Rent-A-Car's policyholders need."





The Innovation Group plc

Tel: +44 (0) 1489 898 300

Andy Roberts, Chief Executive Officer

Jane Hall, Group Finance Director

Louise Fisk, Head of Global Communications


FTI Consulting LLP

Tel: +44 (0) 20 7831 3113

Edward Bridges / Matt Dixon / Tracey Bowditch / Elodie Castagna



About The Innovation Group plc:


Innovation Group (LSE: TIG) is a global provider of insurance software solutions and business process services. With revenues of £193m (US$ 302m) in 2012, it employs over 2,400 people across North America, Europe, Asia Pacific and South Africa and works with 15 of the top 20 global insurance markets, 16 of the top 20 global insurance companies and 3 of the world's top 5 fleet and lease management companies.


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UK Contract Renewal - RNS