ServicePower Technologies Plc
("ServicePower" or the "Company")
Significant Contract Win with Assurant Solutions
1 March 2011 - ServicePower Technologies Plc (AIM: SVR), a market leader in outsourced services and field management, is pleased to announce a significant licence and revenue share contract for its ServiceOperations software with Assurant Solutions, one of the world's leading speciality insurance providers.
Assurant Solutions has used ServiceOperations software via the SaaS model for over five years. The new arrangement now will expand the use of the software for the management of claims and dispatch. ServicePower will receive licence revenue, software development and maintenance fees throughout the term of the contract.
In addition, Assurant Solutions will provide access to the ServiceOperations software to its commercial customer base, which includes some of the world's leading retailers and manufacturers. The ServicePower software platform will serve as a stepping stone for ongoing customer experience enhancements. Assurant Solutions plans to develop the software platform in new directions designed to significantly improve the retail and customer experience in the extended service contract and home services industries.
Mark Duffin, CEO of ServicePower, commented, "We are excited to strengthen our relationship with Assurant Solutions, a company known to partner with global industry leaders. This is a potentially transformational deal for ServicePower, providing us with direct access to Assurant's vast global customer base. Implementation of the service has begun and we look forward to updating shareholders on the uptake by Assurant Solutions' customers in due course."
For further information, please contact:
ServicePower Technologies Plc
Tel: +1 410 571 6333
Tel: 0207 600 1658
Tel: 020 7653 9850
Mark Duffin, Chief Executive Officer
ServicePower Technologies Plc is a third party administrator for global field services which uses a fully integrated artificial intelligence based software platform to recruit independent contractors, comply with global regulatory codes, facilitate training, schedule service calls, conduct global retail/wholesale pricing analysis, and ultimately facilitate an optimal customer buying experience. ServicePower's ServiceOutsource product is offered globally to end-consumer facing organisations in the retail, manufacturing, insurance, medical, and services industries providing the capability of offering quality installation services for their products through a network of professional, licensed, and insured independent contractors.
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, Ga., 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 $26 billion in assets and $8 billion in annual revenue.www.assurant.com