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ICBC Signs Five-Year, Exclusive Agreement with Audatex for Estimating and Total Loss Solutions
Dec 14, 2007 (08:12 AM EST)
SAN DIEGO, Dec. 14 /PRNewswire-FirstCall/ -- Solera Holdings, Inc. , the leading global provider of software and services for the automobile insurance claims processing industry, today announced that Canada's largest auto insurer, the Insurance Corporation of British Columbia (ICBC), has extended its relationship by five years with Solera's subsidiary, Audatex North America, Inc. This relationship dates back to 1987, making ICBC Audatex's longest-standing insurance customer in Canada.
Under the terms of this agreement, ICBC will migrate its entire material damage staff and c.a.r. shop VALET collision repair partner estimating systems to Audatex's next generation platform, Audatex Estimating(TM). In addition, ICBC will continue to utilize Autosource(R), Audatex's total loss vehicle valuation tool.
"We are honored to be the exclusive provider of automobile claims processing software and solutions to Canada's largest insurer, ICBC," said Tony Aquila, founder, chairman and CEO of Solera Holdings, Inc. "Our relationship with ICBC is a very good example of our fanatical commitment to our customers. We've worked closely with this very important customer to tailor our products to their workflow and, over the years, have been able to develop solutions that have improved their efficiency and effectiveness. We're looking forward to partnering with ICBC and helping them migrate to our next generation of products, as we continue to expand the solutions we provide."
Derek Vettese, Vice President of Claims at ICBC, said, "We value our relationship with Audatex. Over the past 20 years, they have consistently demonstrated a willingness to listen to our needs, and to work alongside us to develop the solutions we require in our business. Their next generation estimating and total loss solution sets equip us to work more closely with our partners and better serve our policyholders."
"With this agreement, our relationship with ICBC will now span 25 years, and for that we are grateful," said John Kotsopoulos, Vice President and General Manager for Audatex Canada ULC. "Because they process over 400,000 claims annually, our solutions have to be well tuned and fit for the job, and we have been diligent in our commitment to deliver what we have promised from day one with ICBC. It may be 20 years in the making, but we approach this relationship the same way we do with all of our customers; we work hard to earn their business every day."
Solera is the leading global provider of software and services for the automobile insurance claims processing industry. Solera has operations in 49 countries across 5 continents. The Solera companies include Audatex in the United States, Canada, and in more than 35 additional countries, Informex in Belgium, Sidexa in France, ABZ in the Netherlands, Hollander serving the North American recycling market, and IMS providing medical review services. For more information, please refer to the Company's website at www.solerainc.com .
This press release contains forward-looking statements, including statements about business outlook and strategy that may suggest trends in our business. These statements are based on estimates and information available to us at the time of this press release and are not guarantees of future performance. There may be other factors that may cause our actual results to differ materially from those suggested by these forward-looking statements. Our actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. We can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on our results of operations and financial condition. You should carefully read the factors described in the "Risk Factors" section of our filings with the Securities and Exchange Commission for a description of certain risks that could, among other things, cause our actual results to differ from these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
Contacts: Investor Relations: Jack Pearlstein Solera Holdings, Inc. 858-342-1383 email@example.com Media Relations: Kendra DeWitt Solera Holdings, Inc. 858-946-1453
CONTACT: Investor Relations, Jack Pearlstein, +1-858-342-1383, firstname.lastname@example.org; or Media Relations, Kendra DeWitt,+1-858-946-1453, , both of Solera Holdings, Inc.
Web site: http://www.solerainc.com/