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
Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements. Software maker Adobe Systems Inc. (ADBE) Tuesday detailed an outlook for the full year 2016 indicated to miss Wall Street estimates, sending its shares down 8 percent in after-hours trading. Adobe expects full-year 2016 revenues of about $5.7 billion and an adjusted earnings of $2.70 per share. Analysts... Enterprise software maker Adobe (ADBE) provided updated guidance on Tuesday, predicting strong growth over the next three years by giving 2016 projections that are below what market analysts are currently expecting.
comments powered by Disqus
Follow RTT