Monday, Imaginatik Plc (IMTK.L) said it won a significant three-year contract with one of the US' leading personal lines property and casualty insurance companies. Imaginatik said its software and services will be utilised by the customer to support an enterprise-wide innovation programme focused on cost-reduction, process improvement and product development. Imaginatik's robust, scalable software platform, Idea Central, will enable the participation in the initiative of the customer's 68,000 employees and network of agents located across the US.
"Our knowledge of the insurance sector combined with our experience in facilitating successful innovation programmes across some of the largest organisations in the world were invaluable to the winning of this significant contract in a competitive situation. The multi-year nature of the contract adds to our strong level of recurring revenues and gives us confidence on the long-term prospects of Imaginatik," said Mark Turrell, CEO of Imaginatik.
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