Solutions Group, Inc., Announces Partnership With Major Transportation Insurance Company Through Its Subsidiary, Idrive
24 June 2011 - 11:15PM
Marketwired
Solutions Group, Inc. (PINKSHEETS: SOLU) through its subsidiary,
Idrive Monitoring Systems, announces a partnership with a major
insurance company.
After over a year of negotiation and qualification, Solutions
Group is proud to announce that a definitive agreement to sell
Idrive cameras to qualified customers of the insurance company has
been signed. Terms of the contract prohibit the release of the
insurance company's name; however, a future announcement is
expected. A customer loyalty program developed by the insurance
company provides subsidized video event recorders (Idrive cameras)
to its loyal customers to enhance driver safety and reduce costs
through lower premiums and less payouts. Each Idrive camera retails
for around $675 and sales of 3,000 to 5,000 cameras annually were
discussed with the insurance company.
"With the significant amount of time and energy we have put into
this deal I am very pleased that we have joined forces in an effort
to better drivers, protect fleets and most importantly keep our
roads safe," stated Idrive's Sales Vice President, Curt Andrews.
Andrews continued saying, "Other insurance companies have already
contacted us regarding similar programs. Partnering with insurance
companies will definitely increase our sales in the near and long
term."
Idrive is currently taking orders for cameras to be delivered to
the insurance company's customers and expects the orders to
continue to increase over the coming months.
About Solutions Group, Inc.: (SGI) is a provider of products
focused around the Automotive and Transportation Safety Industries.
SGI strives to create value for its shareholders by leveraging its
core engineering competencies into other opportunities including
royalty partnerships, intellectual property creation and selective
acquisitions. SGI is the maker of Idrive and theDecelerator product
lines.
For more information please visit our website at:
www.IdriveSafetySolutions.com
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks. You
should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements.
Contact: Sean J O'Neil 805.964.3344
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