Solera Announces Global Cooperation Agreement With Allianz Exclusive contract provides uniform services across Allianz companies and geographic regions
WESTLAKE, Texas, Jan. 23, 2012 /PRNewswire/ -- Solera Holdings, Inc. (NYSE: SLH), the leading global provider of software and services to the automobile insurance claims processing industry, today announced a new agreement making Solera the exclusive preferred global provider of automobile insurance claims processing software and services for Allianz SE, a leading global financial services provider.
Solera's mission with this agreement is to provide Allianz with essential software solutions, data services and support in 28 markets in which Allianz and Solera work together and to continue to focus on innovative products and services that help motor insurance policy holders receive a world class claims handling experience.
"It is a real privilege to be awarded this exclusive agreement by Allianz. We are very excited about Allianz's commitment to innovation and the importance it places on technology. As its exclusive preferred global provider of automotive claims software and services, we will work tirelessly to enhance its global value proposition. The Allianz commitment to global growth and approach to standardize processes while giving its operating entities the freedom to build local businesses is one we admire and follow at Solera. This agreement is the single largest global agreement Solera has ever signed and will create substantial value for Allianz and Solera," said Tony Aquila, founder, Chairman and CEO of Solera. "The agreement will continue to strengthen relationships among our respective local companies, resulting in an acceleration of benefits for all stakeholders."
Pursuant to the agreement, Solera will provide Allianz with essential software solutions, data services and support. At the same time, Solera will be able to work closely with Allianz at a global and local level both on product development and delivery at the local country level. There will also be enhanced cooperation agreements between the local Allianz companies and local Solera companies, including establishing a framework for new agreements in countries where the two local companies did not have an agreement previously.
About Solera Holdings, Inc.
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in nearly 60 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium and Greece, Sidexa in France, ABZ and Market Scan in The Netherlands, HPI in the United Kingdom, AUTOonline providing salvage disposition in a number of European and Latin American countries, Hollander serving the North American recycling market, Explore providing data to U.S. P&C insurers used in the re-underwriting of their insured drivers, and IMS providing medical review services. For more information, please refer to the company's website at http://www.solerainc.com/.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about the expected benefits and value to be derived from the global cooperation agreement and the use of our software and services. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: the failure to realize the expected benefits from the global cooperation agreement; risks associated with the uncertainty in and volatility of global economic conditions; effects of competition on our software and service pricing and our business; rapid technology changes in our industry; time and expenses associated with customers switching from competitive software and services to our software and services; risks associated with operating in multiple countries; our reliance on third-party products; and effects of security breaches on our business and reputation. For a discussion of these and other factors that could impact our operations or financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, particularly our Quarterly Report on Form 10-Q for the Quarter Ended September 30, 2011. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Solera Holdings, Inc.