eAutoclaims Announces Progress of Newly Formed Special Markets Group
November 15 2004 - 5:31PM
PR Newswire (US)
eAutoclaims Announces Progress of Newly Formed Special Markets
Group OLDSMAR, Fla., Nov. 15 /PRNewswire-FirstCall/ -- eAutoclaims,
Inc. (OTC:EACC) (BULLETIN BOARD: EACC) announced today the early
success of its recently formed Special Markets Group. The Special
Markets Group includes the eAutoclaims personnel who are charged
with executing the activities of the recently announced
Co-Marketing Agreement with ADP Claims Services Group (ADP CSG).
The Special Markets Group is pleased to have signed six new
Insurance clients over the past few months. All of the contracts
are a result of the ADP/eAutoclaims Co-Marketing Agreement. Four of
the new clients have recently been rolled out and a fifth is
expected to begin submitting claims in the next couple of weeks.
While all of the new clients are in the pilot stages, the early
results of the Special Markets Group have been encouraging. Joint
National sales efforts with EACC and ADP CSG have been underway for
only the last three and half months, yet the growth in new pilot
accounts is an excellent indication of how the industry is reacting
to the combined efforts. While the start of actual joint sales
efforts started slower than expected, the growing number of
prospects in the pipe line are very impressive, particularly the
number of larger Insurance carriers who are evaluating the
Co-Marketed Services. Eric Seidel, President/CEO of eAutoclaims,
commented, "We are very encouraged by the early progress of this
Co-Marketing Agreement and our Special Markets Group." Seidel
continued, "What we find most encouraging is the growth of larger
Carriers seriously evaluating the Co-Marketed Services, something
we believe will continue." The Company estimates it has invested
nearly $300,000 into the integration process and rollout of the
Special Markets Group. This does not include the significant
investment in hardware and bandwidth to upgrade the Company's
infrastructure in preparation for the increased volume of claims.
Most of the investment has been in the area of new payroll, but is
expected to show a meaningful return as the pilot accounts mature.
As efficiencies improved from economies of scale, there is a
related reduction in direct expense per claim processed, resulting
in margin growth. About eAutoclaims eAutoclaims (OTC:EACC)
(BULLETIN BOARD: EACC) is a business services company that provides
the insurance industry with claims management services through both
ASP and integrated outsourcing solutions. The Company's clients are
insurance companies, fleet management companies and insurance
services companies. eAutoclaims' solutions streamline the claims
handling process, decreasing the overall time and cost required to
process a collision claim and reducing average paid losses for its
clients. The Company handles repair estimates, repair audits, and
claims systems administration services for automobile claims that
are processed and tracked via the eAutoclaims web-based platform
and network of service providers. For More Information: Jeff
Dickson, Chairman 813-749-1020, Ext. - 2022 This announcement
contains "forward-looking statements." Words such as anticipate,
believe, estimate, satisfies, expect and other similar expressions
as they relate to the Company and its management are intended to
identify such forward-looking statements. Although the Company and
its management believe that the statements contained in this
announcement are reasonable, it can give no assurances that such
statements will prove correct. Factors that could affect the
occurrence of events or results discussed herein are included with
those mentioned in the Company's filings with the Securities and
Exchange Commission. DATASOURCE: eAutoclaims, Inc. CONTACT: Jeff
Dickson, Chairman of eAutoclaims, Inc., +1-813-749-1020, ext. 2022,
or Web site: http://www.eautoclaims.com/
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