Deloitte Consulting LLP will offer implementation and integration services for software developer Innovation Group’s packaged P&C solutions as part of a new strategic partnership agreement between the two companies.
The agreement will allow Innovation Group to broaden its market reach by leveraging Deloitte’s broad technical skills and large implementation workforce. Deloitte will gain a strong software offering for mid-market P&C clients.
Innovation Group engaged Deloitte at the beginning of 2014 to review its implementation methodology. This engagement led to the two companies partnering on an implementation of Innovation Group’s core systems suite at GuideOne Insurance, a leading insurer of faith-based institutions.
The success of these two joint efforts helped stimulate the discussions that ultimate led to the partnership announced this week.
“Deloitte’s extensive industry experience and sophisticated skill-sets make them an ideal system integrator for customers seeking to optimally leverage Innovation’s sophisticated software solutions in complex IT environments,” said Euan King, President of Innovation’s North America Software Business. “Plus, unlike other SIs with comparable resources that focus almost exclusively on large global insurers, Deloitte readily engages with the mid-market players for whom our solutions have particularly compelling value.”
Innovation's modular policy, and claims solutions are complemented by a set of analytic capabilities that can be especially appealing to mid-market P&C companies seeking to improve business performance while more aggressively mitigating risk.
“The replacement of legacy core systems—including policy administration, claims and billing—remains one of the most significant puzzles to solve in the insurance industry,” said Jasmeet Gill, principal for Deloitte Consulting LLP. “Through this agreement, we can jointly offer an attractive option to our regional insurance clients who are looking at transforming their business.”
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