Innovation Group Congratulates American Modern Insurance Group on Its Designation as a Celent Model Insurer

6Innovation Group, a global provider of enterprise software and business process outsourcing solutions to the property and casualty insurance industry, is pleased to extend its congratulations to American Modern Insurance Group for their recognition by Celent, a financial services technology research and advisory firm, as a “Model Insurer” for their effective use of technology. They are one of three Innovation Group customers recognized this year bringing together a total of five customers who have been recognized by Celent as Model Insurers since the inception of the report in 2007. The Celent 2010 Model Insurer report recognizes American Modern Insurance Group for their transformation of policy administration by replacing a legacy platform utilizing a phased self-funding business case approach.

American Modern Insurance Group, a leading US P&C specialty insurance leader, used Innovation Policy, an SOA based solution, to support their business transformation initiative with a modern, innovative solution that supports their commitment to specialty insurance products and enhanced web based support for distribution partners and policyholders. The new platform enhances product innovation capabilities, improves speed-to-market, transfers more servicing capabilities to their agents, provides new self-service options, and improves underwriting capabilities. The strategy has paid off in multiple ways, including cost savings, organic growth, improved underwriting profit, and increased customer retention.

“We would like to congratulate American Modern Insurance Group on being recognized as a Model Insurer and for having the vision to transform their business operations to achieve these impressive results and raise the bar for industry excellence,” said Ed Ossie, CEO APAC and Global Marketing Director for Innovation Group. “We are honored that they are using Innovation Policy and are represented in this report. These results are a further testament to our long history of customer evidence demonstrating how we provide a foundation to address not only cost reductions, operational efficiency and effectiveness, but also innovation and transformation.”

“The underlying business functionality includes product development, pricing/rating, underwriting, billing and policy processing and distribution support. Because Innovation Policy is SOA based, it supported a phased implementation, allowed easier integration with our existing environment and provided other advanced capabilities for both in-house and web-based access” said John Campbell, SVP and CIO for American Modern Insurance Group. “The solution enables enhanced product configuration and pricing segmentation to design and offer specialty products based on market conditions… right rate for every risk, at the right time.”

“The economic challenges have placed a growing focus on transformation and operational effectiveness to achieve sustainable profitability and growth. Having the right vision, technology, business practices and business partner is more important than ever,” said Craig Weber, senior vice president of Celent’s Insurance practice. “American Modern was selected as a Model Insurer, in part, because their initiative highlights the strategic and operational impact of innovation and transformation using modern technology and a partner who pushes new ideas, energy and change with traditional market players who operate in non-traditional ways.”

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 800 insurance carriers and risk managers including CNA, Encompass, Esurance Hertz, Main Street America Group, RSA, The Ford Motor Company, Toyota and Zurich. With 2,300 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.

About American Modern Insurance Group

American Modern Insurance Group, founded in 1965 and headquartered in Cincinnati, Ohio, is a provider of specialty insurance products and services. American Modern specializes in writing physical damage insurance and related coverages on manufactured housing and has expanded to other specialty insurance products including coverage for site-built homes, motorcycles, watercraft, snowmobiles, recreational vehicles, classic autos, physical damage on long-haul trucks, extended service contracts, excess and surplus lines coverages, credit life and related products, as well as collateral protection and mortgage fire products sold to financial institutions and their customers. American Modern serves 1.3 million policyholders nationwide, and is licensed in all 50 states. Additional information on the company can be found on the Internet at .