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New Software Contract - Insurer Claims

The Innovation Group plc (LSE: TIG.L), a global provider of software solutions and business process outsourcing to the insurance, fleet, automotive and property industries, is pleased to announce that it has secured a new client win with a leading European insurance company.

This contract represents the second software contract to be secured in FY15 following the previous contract win announced on 1 April 2015. The contract, which falls within the Group's Insurer Business (Software) division, commences with immediate effect and is valued at £4.75m with £2m being recognised over the next 12 months.

Under the contract, Innovation Group will deliver its Insurer Claims and Insurer Analytics solutions.

Insurer Claims is an award-winning solution allowing insurers to reduce indemnity spend, lower operational costs, enhance customer service, and provide effective supply chain, catastrophe and fraud management. Insurer Analytics is an integrated data mastery solution for insurers providing at-a-glance executive dashboards, comprehensive insurance-sector analytics, and pre-built and user-configurable metrics.

Andy Roberts, Chief Executive Officer of Innovation Group commented:

"Following our recent software contract win, announced on 1 April 2015, we are delighted to announce, in quick succession, this second major software contract. Our technology pipeline remains strong and we are confident that further success in client wins will underpin our ambitions for the full year."

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