NAT, Inc., Leading Insurance Workflow Software Solutions Provider, Joins ACORD

DES PLAINES, Ill., May 19, 2003 -- NAT, Inc., a leading provider of insurance workflow software solutions that enable insurance companies, third- party administrators and retailers to conduct their businesses with greater efficiency, economy and accuracy, has joined ACORD to help develop technology standards for the insurance industry and retailers of insurance products in the automotive, consumer retail and home warranty sectors.

ACORD -- Association for Cooperative Operations Research and Development -- is a global nonprofit insurance association whose mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries to help improve efficiencies and expand market reach.

As part of ACORD, NAT will help in the promotion of standards as a vital means of eliminating IT inefficiencies for the insurance industry. NAT insurance workflow software solutions enable effective contract management, accelerate claims resolution, provide immediate cost savings, and greatly enhance the customer experience.

"The traditional warranty industry model is slow, document- and labor- intensive, prone to human error and fragmented, all of which are obstacles to efficiency, proper risk management and profitably for insurers, TPAs and their retail channels," said NAT CEO Peter Leger. "These obstacles are removed when extended service warranties and related insurance products are managed using NAT workflow automation and re-engineering."

The company's warranty workflow software platforms are Web-enabled, scalable, open architecture (client-specific) built on Microsoft technology. Platforms can be integrated into a user's legacy IT environment or used as a stand-alone solution. They also capture and warehouse data from throughout the distribution channel -- from issuer to consumer -- so this data can be easily accessed and viewed in real time from the desktop or Web for faster policy processing, problem resolution and claims management. Three of the top 10 insurance companies who underwrite extended service warranties, a major auto manufacturer and two of the top auto glass providers use NAT platform workflow software solutions.

"We are pleased that NAT, Inc. has joined ACORD," said Ronald Dudley, Vice President, Standards of ACORD. "NAT has clearly seen the value of incorporating the ACORD standards into its software and services, meeting the strategic requirements of insurance companies to support e-business and online customer self-service by leveraging Web-based and e-commerce tools."

About ACORD ( www.acord.org )

Based in Pearl River, NY, ACORD (Association for Cooperative Operations Research and Development) is a global, nonprofit insurance association which mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries. With offices in the United Kingdom and the United States, ACORD accomplishes its mission by remaining an objective, independent advocate for sharing information among diverse platforms. ACORD standards and services improve efficiency and expand market reach. Affiliated with ACORD are hundreds of insurance and reinsurance companies, and thousands of agents and brokers, related financial services organizations, software providers and industry organizations worldwide.

About NAT ( www.natinc.com )

Headquartered in Des Plaines, IL, NAT, Inc. is the collaborative workflow software Partner of Choice for insurance companies, third-party administrators (TPA) and retailers who underwrite, price, administer, manage and sell extended service warranties and for manufacturers and service repair providers who offer new-product and service warranties to build consumers' confidence in their products and services. The company's warranty software solutions -- SCS Automotive Extended Warranty Platform and NAT Manufacturer Warranty Platform -- streamline and automate the traditional fragmented, time-consuming and error-prone manual processes required to administer, insure, price and sell new product warranties and extended service warranties and their related claims processing. NAT clients enjoy reduced costs and increased income.