Telefonica and Assurant Solutions to Partner in Latin America for Wireless Device Protection Services

USA - English

• Latin America - español

MADRID, Spain and ATLANTA, Ga., Feb. 15, 2011 /PRNewswire/ -- Telecommunications giant Telefonica and specialty insurer Assurant Solutions are pleased to announce that they have entered into a long-term partnership, with Assurant Solutions serving as the exclusive provider of mobile device protection products and services for the majority of Telefonica's Latin American holdings.

Telefonica, the world's third-largest wireless carrier, signed an exclusive, multi-year contract with Assurant Solutions, a business of Assurant, Inc., to provide device protection programs for prepaid and postpaid wireless communication customers in a phased implementation to eleven countries throughout Latin America. This agreement will enable the offer of extended device protection services to more than 80 million Telefonica customers.

"Assurant Solutions is a global industry leader in extended protection products and services. Their dedication to providing superior service aligns well with our own customer service philosophy, and we expect the innovative character of the organization will add value for our customers," said Joaquin Mata, General Manager, Financial Services for Telefonica Group.

Through its alignment with industry leaders, Assurant Solutions has established market leadership positions in extended service protection, credit insurance and debt protection administration in select worldwide markets.

"We are thrilled to partner with Telefonica," said Craig Lemasters, president and chief executive officer of Assurant Solutions. "As a world-class telecommunications leader, they have a reputation for bringing value to their customers. Our mobile protection plans complement those efforts by providing a high-value offering that will help to further enhance the Telefonica customer experience."

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, wireless carriers, manufacturers and other entities. With operations in 25 locations, including executive offices in Atlanta, Ga., Assurant Solutions serves clients and their customers in 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

About Telefonica

Telefonica is one of the largest telecommunications companies in the world in terms of market capitalisation. Its activities are centred mainly on the fixed and mobile telephony businesses with broadband as the key tool for the development of both. The company has a customer base of more than 281 million customers around the world. Telefonica has a strong presence in Europe and Latin America, where the company focuses an important part of its growth strategy. Telefonica is a 100% listed company, with more than 1.5 million direct shareholders. www.telefonica.com

SOURCE Assurant Solutions