First Priority Signs Contract with American Bankers Insurance
12 February 1999
First Priority Group Announces Contract Signed with American Bankers Insurance Group Inc., to Offer Drivers Shield(R) ProgramPLAINVIEW, N.Y., Feb. 12 -- First Priority Group, Inc. announced today a significant expansion of its industry leading, nationwide Drivers Shield(R) program. First Priority Group's Chairman and CEO, Barry Siegel, stated, "American Bankers Insurance Group has signed an agreement with First Priority Group to market FPG's Drivers Shield(R) benefits on a nationwide basis." They offer clients full-service direct response capabilities including database-marketing strategies, creative development of solicitations and post mailing analysis. Mr. Siegel stated, "This strategic partnership is significant to our already fast-growing auto service and discount programs. We provide these programs on a wholesale basis to financial institutions and other enterprises, which offer them as a benefit to their customers or members. Our programs boost customer loyalty and generate additional revenue through membership fees. A recent American Banker's annual report states that they lead all other insurance companies in third party direct marketing. They have completed more than 23 million individual direct mail offers and over 175 million inserts and remittance envelope solicitations generated on behalf of many top retailers, credit card and financial service providers as well as utility companies." Mr. Siegel continued, "Valuable discounts on routinely used services such as maintenance, plus such special features as our Auto Service Hotline, make our programs unique and especially attractive to consumers. We provide services that address the fears of many drivers, particularly women and the elderly, that they will be victimized or overcharged in the case of an accident or breakdown. Our staff will assess their cars' systems, guide them through the repair, reporting and claims-handling process and refer them to a qualified repair facility while checking on the work and prices specified." In addition Mr. Siegel commented, "Regarding collision repairs, we guide motorists to repair facilities in our contracted network and then provide a nationwide warranty on each repair for as long as the owner or lessee has the car." The Company also plans to offer its services via the Internet through its own web site and through joint ventures and other web site partnerships. First Priority Group, Inc. is primarily engaged in automotive fleet management and administration of automotive repairs for businesses, insurance companies and members of affinity groups. The services offered by First Priority consist of vehicle maintenance and repair management, including collision and general repair program, appraisal services, subrogation services, vehicle salvage and vehicle rentals; and the administration of automotive collision repair referral services for self insured fleets, insurance companies and affinity group members. Certain information contained herein includes information that is forward looking. The matters referred to in forward-looking statements may be affected by the risks and uncertainties involved in the Company's business. These forward-looking statements are qualified in their entirety by the cautionary statements contained in the Company's Securities and Exchange Commission filings.