BrandPartners' Subsidiary Announces Insurance Fraud Partnership; Validation of iMapData's Vertical Marketing Strategy.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 30, 2001 iMapData, a BrandPartners Group, Inc. (Nasdaq: BPTR) company, today announced that it has established a partnership with the National Insurance Crime Bureau "NICB" redirects here. NICB may also refer to the National Industrial Conference Board; see The Conference Board. The National Insurance Crime Bureau (NICB) is a North American non-profit membership organization located in Des Plaines, Illinois. (NICB NICB National Insurance Crime Bureau NICB Nebraska Independent Community Bankers NICB National Institute for Cellular Biotechnology (Ireland) NICB National Intelligence Collection Board ) to create and market products to fight insurance fraud. It also announced the availability of CATfraud, the first product introduced to the marketplace by this partnership. The long-term vision of the NICB partnership is to create a variety of fee-for-service products for NICB members to help them more effectively prevent, detect and deter specific types of insurance fraud. The partnership's introductory offering, CATfraud, is an interactive geographically based product that enables claims adjusters and fraud investigators to identify potential fraudulent catastrophe and weather-related claims. CATfraud displays five categories of weather events (earthquake, flood, wind, tornado and hail) with daily updates indicating the previous day's events. Delivered to member company computers, CATfraud can show weather events at national, regional, city or street address levels and allows users to enter claim addresses to verify the presence of catastrophe or weather-related claims submitted to NICB member companies in the same area. "Never has so much up-to-the-minute data been gathered from so many different sources and funneled into a single, intuitive interface," said William Lilley III, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of iMapData "The fight against insurance fraud has a state of the art weapon in CATfraud." Mr. Lilley further commented, "This partnership represents a significant validation of iMapData's vertical marketing strategy. Our strategy is to evolve our software mapping and competitive information services See Information Systems. into a license-based recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. revenue stream. We have developed industry-vertical solutions focusing on insurance, government, telecommunications, media, banking and energy, which capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. our data mapping Data mapping is the process of creating data element mappings between two distinct data models. Data mapping is used as a first step for a wide variety of data integration tasks including:
BrandPartners chairman and CEO Jeffrey Silverman said that the current political and economic climate adds to iMapData's opportunities to build on their strong foundation. "We are delighted with iMapData's success in executing their strategy. BrandPartners Group has identified core businesses, which provide unique business solutions. Our focus is to create shareholder value by accelerating growth in our businesses that already have a solid footprint in their markets." BrandPartners Group, Inc. (www.bptr.com) operates through Willey Brothers, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. providing merchandising, branch planning and design, and creative services Creative Services are a subsector of the creative industries, a part of the economy that creates wealth by offering creativity for hire to other businesses. Examples include:
iMapData (www.imapdata.com) delivers business-relevant information in mapped formats to businesses and governmental agencies by accessing and merging various sets of proprietary and licensed information including industry-specific data, economic measures, socio-demographic data and infrastructure locations. iMapData's clients include a variety of Fortune 500 companies and federal law enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). . The NICB is a not-for-profit organization solely dedicated to fighting insurance fraud and auto theft for the benefit of its members and the public through information analysis, forecasting, criminal investigation support, training and public awareness. Approximately 1,000 property/casualty insurance companies support the NICB. This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on the Company's current expectations of future events and are subject to a number of risks and uncertainties that may cause the Company's actual results to differ materially from those described in the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. These risks and uncertainties include, among others, the Company's ability to identify appropriate acquisition candidates, complete such acquisitions and successfully integrate acquired businesses; changes in the Company's business strategies or development plans; effects of competition; the Company's anticipated growth within the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry; the Company's ability to obtain sufficient financing to continue operations; and general economic and business conditions, both nationally and in the regions in which the Company operates. These and other risks and uncertainties are disclosed from time to time in the Company's filings with the Securities and Exchange Commission, including the "Forward-Looking Statements" section of the Company's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2000, in the Company's press releases and in oral statements made by or with the approval of authorized personnel. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments. |
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