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ServicePower expands agreement with Assurant Solutions

25 January 2013

ServicePower Technologies Plc

SERVICEPOWER TECHNOLOGIES EXPANDS AGREEMENT WITH ASSURANT SOLUTIONS TO PROVIDE ENHANCED ACCESS TO THIRD-PARTY SERVICE AND INSTALLATION CONTRACTORS

STOCKPORT, ENGLAND and ATLANTA --- ServicePower Technologies Plc (AIM: SVR), a market leader in outsourced services and field management, and Assurant Solutions are pleased to announce a contract expansion to provide the leading specialty insurer and its customers enhanced access to third-party repair and installation services.

In 2011, Assurant Solutions purchased a license to use and resell ServiceOperations, a software that allows the company and its clients to manage or dispatch work to third-party service providers and manage claims payments to them. Under the new three-year agreement valued at $714,000, Assurant Solutions obtains a new license and entered into a revenue share contract for ServicePower's new field management software. The new web-based marketplace for the posting of contractor jobs and management of payment, ServiceMarket, can integrate with ServiceOperations.

"We are delighted that Assurant Solutions has chosen to expand its relationship with ServicePower to also incorporate our newly launched ServiceMarket product," said Mark Duffin, CEO of ServicePower. "As Assurant Solutions and its customers embark on market leading service delivery models, and endeavor to control related costs, ServiceMarket is an obvious addition to their field management platform."

Assurant Solutions now can offer its clients a single platform for managing and publishing jobs, some for bid, to a fully vetted and continually growing, multi-vertical contractor marketplace. This new arrangement also enables Assurant Solutions to expand its use of third-party repair and installation servicers for its extended service contract businesses by marketing through crowdsourcing activities.

"ServiceMarket provides us with a mechanism to provide additional service offerings to our clients and their consumers while continuing to ensure exceptional customer satisfaction. The platform complements our scheduling technology and, when combined, the two enable us to provide unique ways to deliver new services with the best possible customer experience and price," said Keith Meier, senior vice president, at Assurant Solutions. "In fact, we were already able to complete our first agreement with a new client for this service solution within days of executing the expanded agreement with ServicePower."

For further information, please contact:

ServicePower Technologies Plc FinnCap Newgate Threadneedle
Tel: 0161 476 2277 Tel: 0207 220 0500 Tel: 0207 653 9850
Mark Duffin, Chief Executive Officer Marc Young Caroline Evans-Jones
Marne Martin, Chief Financial Officer Charlotte Stranner Fiona Conroy

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

About Assurant Solutions

Assurant Solutions businesses develop, underwrite, market and administer specialty insurance, extended service contracts and other risk management solutions through collaborative relationships with leading financial institutions, retailers, automobile dealers, funeral homes, manufacturers, wireless carriers and other entities. With operations in 25 locations, including executive offices in Atlanta, Assurant Solutions serves clients and their customers in 12 countries throughout North America, the Caribbean, Latin America, Europe and Asia. www.assurantsolutions.com

Assurant Solutions is part of Assurant, a premier provider of specialized insurance products and related services in North America and select worldwide markets. Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has over $28 billion in assets and $8 billion in annual revenue. For more information, please visit www.assurant.com

Assurant Solutions

Patrice Eastham

Vice President, Business Communications

Telephone: 770-763-2740

Email: patrice.eastham@assurant.com

 

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