Innovation Group introduces Innovation WORKS Policy and Claims Solution

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Tue Sep 8, 2009 8:00am EDT

Integrated, web-architected policy administration and claim management software
platform supports accelerated delivery of new products and entrance into new
states during the current soft market.
NEWTON, Mass.--(Business Wire)--
Innovation Group-www.us.innovation-group.com--a leading global provider of
enterprise software and business process outsourcing solutions to the property
and casualty insurance industry, is pleased to announce the release of its newly
architected workers` compensation and commercial insurance processing platform--
Innovation WORKS. 

Available for immediate delivery, Innovation WORKS was developed based on input
solicited from analysts, business partners, clients, and prospects, and combined
with Innovation Group`s extensive market research. Innovation WORKS is an
end-to-end insurance solution which leverages the intellectual property and
assets of Innovation Group`s past acquisitions, an arsenal of best practices
from its over 200 North American clients, and the company`s 10+ years of proven
delivery experience within the property and casualty industry. 

Innovation WORKS was designed and developed to help insurers with medical cost
containment, to improve claims turnaround time, and to enable quick delivery of
new products to market - all while providing a platform for delivering
consistent and exemplary service to the organization`s customers, agents and
brokers. By offering a straight through processing environment, Innovation WORKS
provides an efficient platform to help organizations increase market share while
boosting profitability 

Provided within Innovation WORKS is a fully integrated Customer Service Center
module to measure customer profitability in support of business renewal
decisions and cross-selling opportunities. The Customer Service Center module
offers a wealth of capabilities to enhance an organization`s relationships with
policyholders, agents and brokers with regular electronic communication of new
offerings and business opportunities. Innovation WORKS provides seamless
collaboration between all the process stakeholders to improve performance and
streamline manual processes. 

Innovation WORKS is supported by a flexible and common workflow and a
rules-based engine from policy administration to claims management to the
Customer Service Center. The system`s intuitive user interface and process
optimization empower users with complete control of data content, screen design
and workflow. Achieving automation by consistently following an organization`s
best practices eliminates much of the manual effort and allows for an increased
focus on selling products at the right price from an underwriting perspective.
From a claims perspective, the system allows the adjuster to ensure the
appropriate reserves are established and claims are being closed more
expeditiously. 

Innovation WORKS also leverages the expertise of Innovation Group`s Business
Process Outsourcing (BPO) Operation which currently processes over two million
commercial and workers` compensation claims per year for many of the leading
U.S. carriers and Third Party Administrators. 

Eric Wadsworth, CEO of Innovation Group North America commented, "Innovation
WORKS provides an integrated platform that supports all aspects of workers`
compensation insurance processing. Our rich workers` compensation experience and
focus, along with WORKS` modular implementation options, reduces risk and
platform deployment challenges for our clients. We are pleased to announce
Innovation WORKS to the market and thank all of our partners and clients for
their contribution to its launch." 

About Innovation Group

Innovation Group plc (LSE: TIG.L) is the leading provider of enterprise software
and Auto and Property network management solutions to the global Property and
Casualty insurance industry. Our contact centers, managed repair networks,
technology and hosting solutions reduce risk, control costs, and improve both
business performance and customer satisfaction. 

Innovation Group serves more than 1,000 insurance carriers and risk managers
including AAA NCNU, Aviva, CNA, Encompass, Esurance, Hanover, Hertz, RSA, The
Ford Motor Company, Toyota and Zurich. With 2,400 associates in 29 offices
around the world, we process more than four million claims per year to achieve a
25% direct claims cost savings for customers. Our technology and hosting
solutions are deployed worldwide and help our customers streamline business
processes to gain greater market agility. www.us.innovation-group.com



PRESS/ANALYST CONTACT
Innovation Group:
Susan Douglas
Solomark Associates
T: 847-895-2634
E: susan@solomark.com

Copyright Business Wire 2009

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