Hertz Win 2009 Recognition for Claims
Innovation 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 Hertz and their claims management division, HCM, 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 Hertz and HCM for the organisational transformation of their pan-European claims management business model enabled by modern technology.
Hertz, the world's largest general use car rental brand, currently handles around 175,000 motor incidents a year in Europe. To drive productivity, and to respond to an increasing demand and product and customer diversity, Hertz chose to implement Innovation Claims in its claim operations in Europe in 9 countries to provide a web-based, event-driven claims environment that supports the entire claims lifecycle. Hertz' implementation enables the management of the existing motor, property and liability claims in Europe and will support the extension of service delivery to additional territories, meet rapid volume growth and develop the existing TPA business portfolio for clients including corporations, commercial brokers, insurers and risk carriers.
Implementation of Innovation Claims has allowed Hertz to streamline and automate their business processes, migration of generic European business processes to a Shared Service environment, create interfaces with process-dependent systems and manage information via the internet. This has reduced operating costs, reduced claims costs, improved governance and quality and has ultimately improved competitive positioning and value to key stakeholders. The implementation has provided Hertz operational efficiencies, competitive differentiation in business capabilities and pricing, and a platform for strategic market growth. Through strong and courageous leadership, highly effective project management, and emphasis on managing the cultural impact of transformation, the implementation, thus far, has driven productivity improvement of 27% and claims cost reduction of 8%.
"We would like to congratulate Hertz on being recognized as a Model Insurer and for having the vision to transform their Pan-European claims management operations to achieve these impressive results and raise the bar for industry excellence; particularly as a non-traditional insurer" said Peter Hamilton, CEO of UK and Europe for Innovation Group. "We are honored that Hertz is using Innovation Claims as the basis for a multi-country enterprise implementation as represented in this report. These results are a further testament to our long history of customer evidence that demonstrate how we provide a foundation to address not only cost reductions, operational efficiency and effectiveness, but also innovation and transformation."
Patrick Smith of Hertz commented "I am proud to be the recipient of this award on behalf of my team who have worked tirelessly to deliver our 'best in class' future state and drive through the financial advantages required of a transformation of this scale. The success is evidence of a strong partnership with Innovation Group and the innovative culture and support of Hertz. This has been a highly complex project, but at every step of the way we have aligned to our original strategic objectives, requirement for excellence in claims management and benefit realization commitments. To have achieved all of this during the economic downturn heightens our pride and satisfaction."
"The economic challenges have placed a growing focus on transformation and operational effectiveness to achieve sustainable profitability and growth, with a particular focus on claims. 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. "Hertz were 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 non-traditional insurance market players, thereby challenging the status quo."
About Hertz Europe
Hertz is the world's largest general use car rental company, operating from over 8,100 corporate locations in 145 countries. In 2008 Hertz celebrates its 90th year of delivering quality car rental solutions to leisure and corporate customers. Product and service innovations such as Hertz #1 Club Gold, Hertz Claim Management, specially designed NeverLost satellite navigation systems, Hertz in-car DVD Entertainment and unique cars offered through the company's Prestige, Fun and Green Collections, set Hertz apart from the competition.
About Hertz Claim Management (HCM)
Hertz Claim Management, Europe is controlled through the Hertz International head office in Uxbridge, and manages about 175,000 motor first party and third party, personal property and personal accident incidents from 8 business units (Belgium, France, Germany, Italy, Netherlands, Spain Switzerland and United Kingdom) and the European Shared Services operations in Dublin. As part of a global claims operation, HCM manages the Hertz portfolio and also delivers outsource claim services to a number of external corporate clients, commercial brokers, insurers and risk carriers.
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. www.us.innovation-group.com.
Contacts:
Denise Garth
Vice President - Global Industry Affairs
Innovation
Group
402.963.0198
GARTHD@US.INNOVATION-GROUP.COM