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Ford Credit Joins IHA to Offer Customers an Easier Way to Buy Auto Insurance

9 July 1999

Ford Credit Joins IHA to Offer Customers an Easier Way to Buy Auto Insurance

    DEARBORN, Mich., July 9 -- Ford Credit has made an equity
investment in Insurance Holdings of America, Inc. (IHA), an online insurance
distribution company that allows for rapid, automated rating, quoting and
processing of insurance transactions from multiple carriers on a single
platform.  In addition, Ford Credit also has negotiated a licensing and
service agreement, under which IHA grants them the right to use their name,
marketing program, insurance processing technology and certain program
management services worldwide.
    Ford Credit will be using IHA's technology in support of their financial
services strategy to provide insurance and other financial products through
multiple distribution channels, starting in vehicle dealerships and extending
to the Internet.  Through these channels, customers will be able to rapidly
receive multiple, competitive insurance quotes from an array of carriers --
and the technology will allow immediate policy issuance to the customer.
    "The way consumers shop is changing," says Jim Moritz, director, Insurance
at Ford Credit.  "This new platform will allow Ford Credit, along with our
dealers, to better meet the needs of today's customers by offering them an
easier and more convenient way to buy auto insurance."
    Insurance Holdings of America is a Business-to-Business Internet
E-Commerce company that provides a fully integrated platform for processing
insurance transactions and an insurance distribution company marketing
insurance products under the GROUPadvantage(R) umbrella.
    Ford Credit is a wholly owned subsidiary of Ford Motor Company
and is the world's largest automotive finance company.  Ford Credit provides
vehicle financing in 36 countries to more than 8 million customers and more
than 11,000 automotive dealers.