TurboCoverage Adds Five Auto Insurance
Companies to the Nation's First Web-Based Insurance Service
for Auto Dealerships
New Strategic Partnership With FSC Enables TurboCoverage To
Add Carriers Rapidly, Increase Customer Choice
PALO ALTO, Calif., March 21 TurboCoverage, the nation's
first web-based auto insurance service exclusively for auto dealerships,
announced today that five major auto insurance carriers are now offering
products to car-buyers seeking coverage at the time of the vehicle sale.
The new carriers, all rated A- or better, include the following:
-- Infinity Insurance Company, a member of the Great American Insurance
Group;
-- Leader Insurance Company, a member of the Great American Insurance
Group;
-- Financial Indemnity Company, a unit of Unitrin Property and Casualty
Insurance Group;
-- TOPA Insurance Company;
-- Western United Insurance Company, a unit of California State Automobile
Assn. (CSAA).
The five new carriers bring to eight the number of auto insurance
companies offering products through the TurboCoverage platform.
TurboCoverage's existing carriers are Republic Indemnity, a member of the
Great American Insurance Group; Workmen's Auto Insurance Company; and
Interstate Insurance Group, a division of Firemen's Fund-Allianz. The new
carriers, which specialize in providing nonstandard auto insurance coverage to
motorists, were integrated through TurboCoverage's partnerships with FSC, one
of the industry's leading rating engines with more than 4,000 agency clients
nationwide. FSC is a business unit of Fiserv, Inc., , an
independent, full-service provider of integrated data processing and
information management systems to the financial services industry.
"TurboCoverage is proud to significantly expand its choice of quality
products offered to car-buyers who need insurance at the time of the vehicle
purchase," said TurboCoverage Chief Executive Officer Jim Grim. "Through our
strategic partnership with FSC, TurboCoverage now has a world-class partner
with whom we can easily and quickly add carriers to serve both the
non-standard and preferred markets."
TurboCoverage significantly improves the existing insurance process in
dealerships. Today, uninsured car-buyers typically wait an hour or more for
off-site insurance agents to arrive and provide coverage. Using
TurboCoverage, that process takes about 10 minutes and typically gives
consumers a wider choice of products. Each year, approximately
7 million insurance transactions take place at new and used car dealerships
across the country.
"TurboCoverage has a terrific concept that enables insurance carriers to
reach a large market of customers who are ready to buy," said Robert Meyerson,
President of FSC, which was founded more than 20 years ago. "FSC's rating
engine will allow carriers to rapidly integrate into the TurboCoverage
platform and significantly expand their market share."
About TurboCoverage
TurboCoverage is the nation's first web-based auto insurance service for
dealerships that enables car-buyers to instantly purchase coverage at the time
of the vehicle sale. TurboCoverage shortens the insurance transaction to
about 10 minutes, increases customer satisfaction, and eliminates reliance on
off-site agents serving multiple dealerships. TurboCoverage workstations are
installed in numerous locations and offer a choice of coverage from leading
insurers. TurboCoverage is based in Silicon Valley, and its investors include
executives from the auto dealership and insurance industries. For more
information about TurboCoverage, call 888-263-3637 or visit
http://www.turbocoverage.com.
About Facilities and Services Corporation (FSC)
FSC has been providing Independent Insurance Agents with a variety of
insurance software rating and submission products for more than 20 years.
Today, we have more than 4000 clients nationwide, including Independent
Agents, General Agencies and Insurance Companies. FSC has become the
unquestioned industry leader in rating software and we thank our clients for
this privilege. For more information about FSC, call 800-433-2550 or visit us
at http://www.fscrater.com.