logo
Share SHARE
FONT-SIZE Plus   Neg

Innovation Group Signs Deal With Lloyds Banking Group - Quick Facts

Innovation Group plc (TIG.L) announced the signing of a major contract with Lloyds Banking Group plc (LLOY.L,LYG) for its claims scoping solution Innovation Symbility.

As per the terms of the contract, the Group will provide Lloyds Banking Group or LBG and all of the organisations that make up LBG's buildings claims supply chain with access to its Innovation Symbility software. LBG and its supply chain partners will use the software to process and complete LBG's domestic property insurance claims.

The new contract, which is for an initial period of five years, will be charged on a transactional basis and will contribute approximately 7.0 million pounds to Innovation Group revenues over the term with volumes expected to be fully ramped by the first quarter of 2014.

Andy Roberts, Group CEO of The Innovation Group, said, "This contract win cements Innovation Symbility as the UK's market leading solution. I am delighted that LBG have chosen our product as a key enabler for their business and we very much look forward to working with them to achieve their strategic objectives. Our delivery of a SaaS solution on this scale clearly demonstrates our ability to provide leading edge application solutions to the market's largest carriers."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Best Buy Co., Inc. (BBY) reported first-quarter non-GAAP earnings per share from continuing operations of $0.44, an increase of 19% from $0.37, a year ago. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically... Automotive parts retailer AutoZone, Inc. on Tuesday reported a 6 percent increase in profit for the third quarter from last year, reflecting growth in sales and higher inventory on new store openings. However, both revenue and earnings per share for the quarter missed analysts' expectations. Toll Brothers, Inc. (TOL), the nation's leading builder of luxury homes, reported second-quarter net income of $89.1 million, or $0.51 per share, compared to $67.9 million, or $0.37 per share, prior year. Pre-tax income increased to $140.4 million from $86.5 million. On average, 18 analysts polled by...
comments powered by Disqus
Follow RTT