driversshield.com Expands Top Team to Spur Growth as Second Insurer Plans Pilot Test of Internet Based Services
15 November 2000
driversshield.com Expands Top Team to Spur Growth as Second Insurer Plans Pilot Test of Internet Based Services
Company Steps Up Sales and Marketing Effort and Adds CFO
PLAINVIEW, N.Y., Nov. 15 driversshield.com Corp.,
announced today a series of key executive appointments designed
to expand and strengthen its leadership team, as a second major insurer
indicated that it wants to move forward with a pilot program.
The Company, formerly called First Priority Group, Inc., provides a total
solution via Internet-based collision repair and customer relationship
management services to auto insurance companies, as well as "managed care"
repair and claims management services for self-insured corporate and municipal
fleets. The Company also provides the nation's premier program of automotive
discounts and services, which it offers through leading financial and
membership organizations.
Barry Siegel, Chairman and Chief Executive Officer, said the appointments,
including three new hires and a promotion, provide the additional management
muscle and talent the Company needs as it enters an anticipated rapid
expansion phase. The Company's newest business, its cost-saving, loyalty
building, Web-based services to insurance companies, is expected to ramp up
quickly over the next few months.
"We've been notified by a second insurance company that it plans to move
forward with a pilot program," said Siegel. "As we previously reported, our
first insurer, after a successful pilot, is now preparing to extend our
program. We are close to a conclusion in our negotiations with several other
insurers as well, so the momentum is beginning to build. Adding these
talented, experienced executives to our team will enable us to manage and
accelerate our growth." Siegel said the second insurer had indicated a formal
agreement on the pilot program should be completed before year-end.
Additional details will be forthcoming, he said.
Michael A. Loguercio, Jr., was appointed Director of Business Development
for driversshield.com CRM, which provides claims and customer relationship
management services to auto insurers. Mr. Loguercio, who has been active in
the insurance industry for over 20 years, is serving his third consecutive
term as President of The Young Insurance Professionals of New York, and is a
director of the Professional Insurance Agents of New York State. Before
joining the Company he was a national account executive for Fiserv Inc.,
providing Internet-based education courses to insurance companies and
financial institutions. He began his career in 1978 in sales of Savings Bank
Life Insurance for Union Savings Bank of Long Island, later was an assistant
district manager for The Equitable Life Assurance Society, and subsequently
was sales manager for a large, Long Island-based property and casualty
insurance company.
Todd A. Sternbach was named Senior Vice President of the Company's
driversshield.com CRM subsidiary. He holds a marketing degree from Nassau
Community College and is certified as a sales trainer. Mr. Sternbach
previously was Vice President of Regional Operations for Henry Schein, Inc., a
worldwide distributor of medical and dental products. He began his career in
sales at a regional medical supply company in 1975, and was promoted to
Diagnostic Sales Manager, focusing on medical capital equipment. When that
company was acquired by Henry Schein in 1989, he became president of his
division, boosting sales from $6.3 million to $22 million before being
promoted in 1997 to the regional operations position. In that position, Mr.
Sternbach was responsible for over 125 sales people and 200 operational and
customer service personnel.
Craig Kadamian was promoted to President of driversshield.com FS, the
largest of the Company's three businesses, which provides automotive
management and repair services to corporate and municipal fleets. Mr.
Kadamian, who holds a degree in political science and marketing from the
University of Wisconsin joined the Company in 1987 as Midwest Regional Sales
Manager for the fleet service business after working for a competitor in
Chicago. Later, he became Vice President of Sales and was Vice President of
Business Development immediately prior to his promotion.
Philip B. Kart was named Vice President and Chief Financial Officer. Mr.
Kart, a CPA who holds an MBA from the City College of New York, has extensive
senior management experience with several public companies. He was Vice
President and CFO at Forward Industries, Inc. from early 1998 until that
company moved out of state in September 2000. He was CFO of Ongard Systems
from 1994 through 1997, and was a principal in Big Stone Partners, a financial
consulting firm, from 1989 to 1994. Earlier, he held management positions at
Agrigenetics Corporation and Union Carbide Corporation, and also worked at
Price Waterhouse.
This announcement contains "forward looking statements." Words
"anticipate," "believe," "estimate," "expect" and other similar expressions as
they relate to the Company and its management are intended to identify such
forward-looking statements. Although the Company and its management believe
that the statements contained in this announcement are reasonable, it can give
no assurances that such statements will prove correct. Factors that could
affect the occurrence of events or results discussed herein are included with
those mentioned in the Company's filings with the Securities and Exchange
Commission.