Innovation Group has signed a contract with RBS Insurance to handle all of its newly notified subsidence claims until the end of 2014.
In addition, Innovation Group will manage the completion of approximately 70%of existing open subsidence claims.
Innovation has estimated that the contract will be worth around £40m in revenue over the three-and-a-half years, based on anticipated transaction volumes and assuming normal weather conditions.
"I am delighted to announce this highly significant piece of new business for The Innovation Group," said Andy Roberts, chief executive officer of Innovation Group.
"After a substantial evaluation process, we are delighted to be working with RBSI. Our offering in the UK subsidence market is sophisticated and particularly attractive to insurers as it provides them with certainty over claims costs. Today's announcement is one of the clearest signs yet of the progress we have made in developing our solutions and proving our ability to impress even the largest of blue-chip insurers."
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