Innovation Group, a provider of software, business process outsourcing and repair and service network management solutions to the property and casualty industry, has been selected by two major insurers in Australia following extensive evaluation processes with the newly-enhanced Innovation Insurer.
The first, Australia’s property and casualty Insurers, will use the Innovation Insurer Suite to implement multiple new lines of business and migrate a number of existing legacy systems on to the Insurer platform.
The second, the Australian arm of Chubb, a US-based insurer, will use Insurer Policy via software as a Service (‘SaaS’) model, as well as having Innovation Group host the software and provide application support.
The insurer suite is designed to support growth initiatives, direct-to-consumer channels, and improve operational efficiencies while reducing the risk and cost of core systems replacement.
In addition, Innovation Group will provide outsourced services to support the administration of certain policy types sold through Chubb’s Australian distribution network.
The Innovation Insurer features includes depth and breadth of business capabilities; insurance specific analytics; flexible and agile configuration; customer centric and implementation choice.
Chubb Insurance Company of Australia regional accident & health manager David Foote said this new agreement with the Innovation Group will combine the extensive brand and sales network with the Innovation Group’s highly capable software and BPO services and able to quickly launch new products in market, react fast to emerging consumer demand and stay ahead of competitors.