|By Marketwired .||
|January 8, 2014 02:44 PM EST||
FARMINGTON, CT -- (Marketwired) -- 01/08/14 -- Innovation Group is pleased to announce the latest release of the market-leading Innovation Insurer suite for property and casualty (P&C) insurers which includes Insurer Policy, Insurer Claims, Insurer Configurator, Insurer Billing, Insurer Rating, Insurer Reinsurance and Insurer Analytics.
The new release of Innovation Insurer features enhanced support for integrated multi-channels, embedded analytics capabilities, and provides greater agility through alternative deployment options. Many of Innovation Group's existing insurer customers have selected Innovation Insurer, or multiple components, using on-premise, hosted or SaaS deployment for the flexibility and robustness of the suite.
"Insurers continue to require business capabilities that leverage a customer-centric solution design to help them transition from a product-based to an integrated multi-channel environment underpinned by customer choice and experience," said Mike Fitzgerald, senior analyst for Celent. "Additionally, they need alternative deployment options, including hosted, SaaS and BPaaS, to help them compete and respond to today's every-changing insurance market."
Innovation Insurer includes a number of new capabilities that create significant value for business users, but also in the areas of implementation and ongoing support. Highlighted key areas of business value include:
- Speed to Implementation and Lower Total Cost of Ownership (TCO): Expanded pre-configured industry interfaces; a generic framework for all interfaces; and pre-configured model office scheme setup for multiple states and lines of business.
- Policy Management: Enhanced agency management; multi-line discounts; statistical onsets and offsets; client management and communications; bulk location load; multi-state support; create dynamic questionnaires; and event moratorium.
- Claims Management: Enhanced ISO claims reporting; risk level deductibles; bodily injury for property; and process claim for unlisted policy vehicle.
- Business Intelligence and Analytics: Expanded client centric analysis; refined dashboard definition and filtering; and further embedding into Insurer Policy and Claims.
- Enhanced Usability: Enhanced UI for ease of use; lookup functionality; enhanced tree performance on load of dynamic content; and multi browser support.
"This release emphasizes our focus on enabling insurers be future-ready," said Andy Roberts, Group CEO, Innovation Group. "While replacement and transformation are a critical first step, what will help insurers stand-out in the competitive P&C insurance markets around the world is a commitment to a strong, unique customer experience foundationally supported by a solution like Innovation Insurer that will offer insurers a platform for real competitive advantage, innovation and growth."
"Our continued innovation and improvements to Innovation Insurer provide insurers of any size a platform to deliver valuable change and business improvement in a rapidly changing and challenging P&C insurance market," said Euan King, CEO, Innovation Insurer Group - US & Canada, Innovation Group. "In particular, our flexible pricing and deployment options offer an opportunity for start-up, small or mid-size insurers a platform to level the competitive playing field and strengthen their commitment to excellent customer service."
Innovation Group's product portfolio consistently delivers distinctive capabilities within a cohesive, comprehensive and configurable platform to enable insurers to break legacy paradigms and embrace change. Innovation Insurer is an integrated suite of software which can be implemented as individual modules or as part of a broader migration strategy. Innovation Insurer's modern technology platform and advanced functionality has been repeatedly recognized by insurance industry awards and customers, as well as analysts.
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
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