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ServicePower Technologies Plc

(“ServicePower” or the “Company”)

Expanded £1m Contract with Global Insurer

ServicePower Technologies Plc (AIM: SVR), a market leader in field management, is pleased to announce that it has executed an expanded contract for its ServiceOperations software with a leading international insurance organisation. The five year contract, in support of its retail and manufacturing warranty business, is expected to deliver minimum revenues over the period of £1m in North America, with further business opportunity around the globe. The contract confirms the client’s confidence in ServicePower’s products and ability to facilitate its client commitments.

The client serves commercial, institutional, and individual customers internationally, providing a variety of products and services, including property, casualty and life insurance as well as retirement services in the United States.

The client has extended its contract with ServicePower for use of the ServiceOperations software platform to manage electronic dispatch, claims validation and payment processing for warranty and service contract jobs dispatched to third party networks within North America. The client has also contracted for ServiceStats, ServicePower’s business intelligence software for use in managing its field service operation and ServiceOutsourcing, which provides supplementary network coverage. The global contract facilitates utilisation of the platform across its affiliates outside of North America.

Marne Martin, Interim CEO of ServicePower, commented, "This global leading insurance client is a strategic partner with whom we are delighted to continue and strengthen our relationship. Our ServiceOperations platform enables it to better manage field services, managing costs and margin requirements, while exceeding customer expectations. The contract also provides new, key platform functionality to better assist its retail clients in managing warranty claims, across product categories.”

For further information, please contact:

ServicePower Technologies Plc FinnCap Newgate Threadneedle
Tel: 0161 476 2277 Tel: 0207 220 0500 Tel: 0207 653 9850
Marne Martin, Interim Chief Executive Officer Geoff Nash / Charlotte Stranner Caroline Evans-Jones / Fiona Conroy
Lindsay Bury, Chairman    

About ServicePower

ServicePower Technologies Plc is the only company that can provide a complete, global field management platform that controls all elements of the service lifecycle from offering an appointment, assigning resource and dispatching work through to tracking resources, processing claims and providing business intelligence and analytical reports. With advanced intelligence-based scheduling, dispatch and open market auction software, as well as access to a global network of 86,000 repair and installation technicians, we enable companies to control and schedule work using a mixed resource pool of employees and independent contractors. ServicePower provides solutions that cross all industries. Current customers include Assurant Solutions, Mitsubishi, Farmers Insurance, and Pitney Bowes.

ServicePower is listed on the AIM market of the London Stock Exchange with the ticker SVR.L. For more information please visit www.servicepower.com

 

Jenniffer L. Breitenstein | Service Power
VP,Global Marketing With a BSBA from the University of Louisville, Jenniffer is a seasoned marketing professional whom has demonstrated success in creating and implementing revenue generating and cost saving products, services and programs, in the retail, manufacturing, third party administration, as well as the service and software industries. She has spent nearly 20+ years working in marketing, sales, partner management, product development and program management roles at companies including Accent Marketing, Service Net Warranty (now AIG Warranty), GE Consumer and Industrial's Warranty Management subsidiary, and later GE Capital. Prior to that, she worked in a number of marketing and management roles in various marketing companies. She is also a Six Sigma certified Green Belt and graduate of GE's Management Development Course.