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Mitchell Announces Nationwide Availability of iNTOTAL.COM

    SAN DIEGO--June 25, 2001--

First Internet-Based Total Loss Solution Offers Insurers Accurate Valuations Using 100 Percent Verified Data

    Mitchell International Monday announced nationwide availability of iNTOTAL.COM, an Internet-based solution that provides insurers highly accurate valuations using 100 percent verified data for settling total loss vehicle claims.
    Mitchell's innovative total loss settlement system will give automotive claims managers and adjusters fully detailed reports based on up-to-date comparable vehicle data that is 100 percent verified by Mitchell's staff of highly trained data analysts. These reports will enable insurers to present clear, supportable settlement values to policyholders -- values that will be easier for today's informed and Internet savvy consumers to understand and accept, thus promoting more first contact settlements. iNTOTAL's reports take the mystery out of total loss settlements with an open value calculation method that is straightforward and easy to understand, digital photos (when available) of actual comparable vehicles with date of sale, and detailed supporting analysis.
    "Total loss claims have become some of the most contentious in the industry, often resulting in the loss of policyholders and increasing litigation," said Steve Yin, Mitchell's senior vice president of marketing and product management. "iNTOTAL creates settlements that claims adjusters can explain and the vehicle owner can understand and accept because they are based on real, comparable, verified vehicles. This translates into cost savings in the form of field adjuster productivity, retained policyholders and less chance of litigation."
    iNTOTAL's Internet-based design further promotes claims management operational efficiency. Internet access to iNTOTAL servers makes settlement information accessible in real time to all authorized company personnel working on the claim. This eliminates the time-consuming need to fax, print or physically transfer reports for shared internal use, resulting in reduced cycle time and increased productivity.
    Danny Fertick, physical damage supervisor for South Carolina Farm Bureau Insurance Companies, which is a part of Southern Farm Bureau Casualty Insurance Company, a six-state operation based in Jackson, Miss., said the company has been very pleased with iNTOTAL's performance, noting it helped them settle claims they had been unable to settle previously with other evaluation methods.
    "The big thing our adjusters and appraisers found with iNTOTAL was that we actually had replacement vehicles from the general area where the claimant lived," Fertick said. "This made the data easier for policyholders to accept."
    Additionally, "We were able to give the policyholders phone numbers of dealers or people who had vehicles that were similar to theirs for sale. They could check behind us if they wanted to and prove to themselves that these were not just figures picked out of the air or from a source no longer available."
    The timeliness of iNTOTAL's information was also compelling for policyholders, Fertick said. "We weren't showing them vehicles that had been sold two or three months before. We were dealing with cars still available. It makes it harder for them to argue if you have a vehicle very similar to theirs for sale."
    iNTOTAL's superior solution provides a team of data analysts who receive and research vehicle information for the insurer's total loss claim.
    "Our team will find, research and verify the existence of real comparable vehicles in the vehicle owner's geographic location," Yin said, adding that a mix of currently available and sold vehicles are used. "Mitchell experts will use a variety of sources, all of which are readily accessible to the consumer, to ensure data accuracy."
    "As part of that research," Yin said, "Mitchell analysts call vehicle sellers used in the settlement report to confirm vehicle data, including the selling or asking price and the date of sale. The result is a comprehensive and detailed total loss report providing insurers complete and 100% verified comparable vehicle information, including a digital photograph when available, detailed vehicle description, odometer reading, equipment, location, time and date of confirmation, reported sale price and remarks made by the selling party."
    This extensive and up-to-date market research and verification helps to ensure Mitchell's insurance company customers of accurate data that can withstand scrutiny.
    "The iNTOTAL system is a `win-win' for insurers and their customers," Yin said. "It will greatly enhance the number of first contact total loss settlements and leave policyholders happier with their insurers. And satisfied customers mean greater customer retention."



                        TOTAL LOSS SETTLEMENTS

                      Frequently Asked Questions

	   Background

	   Over the past decade, insurers and consumers have experienced
increasing difficulties in reaching total loss settlements. Driving
these issues has been today's more informed consumers, who, with the
rise of the Internet, can easily obtain their own vehicle price
information via Web sites and chat rooms. These consumers, with their
own data firmly in hand, have become much more willing to challenge
total loss settlement offers from insurers. The result has been
increasing litigation by consumers against insurers as well as tighter
government regulation on fair claim practices. In the current
environment, the need to present clear, supportable and verifiable
settlement information takes on even greater importance.

Q:  What is the most common methodology currently for determining
    total loss market values?

A:  Most methods for determining the market value of a total loss
    vehicle revolve around finding the selling or asking price of
    similar, comparable vehicles and then calculating the market value
    based on those vehicles. However, the accuracy of this method is
    dependent on a few factors. First is the degree of similarity
    between the loss vehicle and the comparable vehicle. Second, any
    material variances between the comparable and the appraised
    vehicle must be taken into account. These include mileage,
    condition, optional equipment, and trim level. Material variances
    must be identified and given a value adjustment. Third, because
    market values vary from one location to another, it is important
    to locate comparable vehicles within the local market, to the
    extent possible. And lastly, the more recent the comparable
    vehicle was sold or offered for sale to the time of the loss, the
    more accurate the information.

Q:  How does iNTOTAL improve upon current total loss valuation
    methods?

A.  The following discusses some of the issues with current total loss
    valuation methods and how Mitchell resolves those issues.

	   Verifiability

--  Current Methods -- While other total loss settlement systems use
    comparable vehicles to determine the market value, at best they
    verify only a sampling of the comparable vehicles used in their
    total loss valuation. This means that much of the data used in the
    valuation may be flawed. The result may be an inaccurate market
    value and a dissatisfied claimant.

--  Mitchell's Method -- Mitchell's iNTOTAL calculates the loss
    vehicle's market value using 100% verified comparable vehicle
    information. Mitchell verifies comparable vehicle information by
    calling vehicle sellers to confirm vehicle data, such as mileage,
    model and optional equipment, while also confirming the selling or
    asking price and the date of sale.

	   Using Non-comparable Vehicles to Determine Market Value

--  Current Methods -- Because many total loss solutions only verify a
    sampling of comparable vehicles, many vehicles used in the
    valuation may not match the model, options, mileage or condition
    of a claimant's vehicle. Often, vehicles used for comparison are
    located outside of the claimant's geographic area and may not be
    currently available for sale.

--  Mitchell's Method -- Mitchell's team of iNTOTAL data analyst
    professionals will find, research and verify the existence of
    comparable vehicles in the vehicle owner's geographic location.
    Their research includes a mix of currently available and recently
    sold vehicles. And they call vehicle sellers to confirm vehicle
    data, such as mileage, model and optional equipment, while also
    confirming the selling or asking price and the date of sale. This
    benefits the process a number of ways:

--  Vehicle information produced is accurate and has been verified

--  Customers and claimants know exactly which vehicles were used in
    the calculation

--  Customers and claimants know which vehicles are currently for sale
    and which are recently available

--  Customers and claimants see comparable vehicle information from
    the claimant's geographic area, making the values more relevant
    and easier to accept for the claimant.

	   Complicated Market Value Calculations

--  Current Methods -- Most of today's total loss settlement solutions
    do not clearly spell out how the market value was calculated.
    Instead, these systems provide complicated market value
    calculations that are difficult for both insurers and
    policyholders to understand. This makes the job of explaining how
    the market value was derived even more difficult and often results
    in inefficient settlement cycle times and dissatisfied customers.

--  Mitchell's Method -- iNTOTAL's reports take the mystery out of
    total loss settlements with an open value calculation method that
    is clear and straightforward. Combined with simple,
    easy-to-understand reports, iNTOTAL users are able to present
    clear, supportable settlement values to policyholders -- values
    that will be easier for today's informed and Internet savvy
    consumers to understand and accept. This promotes first contact
    settlement and increases customer satisfaction and retention
    rates.

Q:  How will iNTOTAL reach a valuation?

A:  INTOTAL's innovative system -- the industry's first Internet-based
    total loss settlement solution -- provides the most verified,
    up-to-date and highly accurate total loss valuations in the
    industry today.

	   iNTOTAL's superior solution offers the value of a team of data
analysts who will find, research and verify the existence of
comparable vehicles in the vehicle owner's geographic location. Their
research includes a mix of currently available and sold vehicles. And
they call vehicle sellers to confirm vehicle data, including the
selling or asking price and the date of sale. The result is a
comprehensive and detailed total loss report providing complete and
100% verified comparable vehicle information, an actual digital
photograph of the vehicle (when available), detailed vehicle
description, odometer reading, equipment, location, time and date of
confirmation, reported sale price and remarks made by the selling
party.
	   This extensive and up-to-date market research and verification
helps to ensure Mitchell's customers of accurate data that can
withstand scrutiny.

Q:  How will iNTOTAL help insurance companies?

A:  Accurate and verifiable valuation reports from iNTOTAL will
    benefit insurance companies by resulting in:

--  Providing market values that insurance companies and their
    customers can easily understand and more quickly accept. This
    should result in more satisfied customers and less litigation.

--  The retention of satisfied policyholders.

--  Improved cycle time by allowing all authorized personnel Internet
    access to total loss settlement information. This avoids a paper
    chain workflow that typically wastes time while insurance company
    staff waits for claims information to be faxed, mailed or
    physically transferred.

Q:  How will iNTOTAL satisfy insurance customers?

A:  Insurance customers will appreciate iNTOTAL's settlement reports
    due to:

--  Accurate verifiable market valuations that will assist customers
    in replacing their totaled cars, trucks and vans.

--  Fully detailed reports that are designed to better answer
    questions from today's informed and Internet savvy consumers.
    iNTOTAL's reports will take the mystery out of total loss
    settlements with an open value calculation method, digital photos
    of actual comparable vehicles (when available) with date of sale,
    and detailed supporting analysis.