IBM and Innovation Group Open New Center of Excellence in India to Help Insurance Companies Transform Their Business

BANGALORE, INDIA, and NEWTON, MA .- IBM (NYSE: IBM) and Innovation Group (LSE: TIG) today launched a new Global Insurance Center of Excellence in Bangalore, India, to help companies innovate on next generation core systems, develop new business models, and tap emerging technologies to create competitive advantage and improve the customer experience.
The new center, based at IBM’s Bangalore campus, provides clients with systems integration services based on Innovation Group’s Innovation Policy and Innovation Claims software applications that deliver high quality, low-risk, and cost effective solutions for the enterprise.

“The new Global Insurance Center of Excellence and an increased focus on our IBM relationship is a response to the success of the partnership in the last 24 months. Our current and prospective customers appreciate the provision of deeper capabilities and the flexibility we offer together in serving the global insurance market. The acceleration of our relationship has been in direct response to our joint customers as well as demand from prospective clients for Claims and Policy Administration Solutions in many key markets,” said Ed Ossie, President of Innovation Group.

The new center builds on IBM and Innovation Group’s existing partnership to streamline delivery capabilities and meet the growing demand for new core systems based on Innovation Group’s application software and IBM System z mainframes and System p servers.

“Insurance companies require core systems that are open, flexible, scalable and secure,” said Norbert Dick, General Manager, Insurance Industry, IBM. “The combination of IBM and Innovation Group technologies coupled with IBM’s systems integration leadership will help joint clients achieve a single view of their customers, lower operating costs, and streamline risk management across the enterprise.”

For more information about IBM insurance solutions visit www.ibm.com/insurance.