ChoicePoint, IHA Sign Vendor Agreement for GROUPadvantage.ALPHARETTA, Ga.--(BUSINESS WIRE)--Aug. 5, 1998-- Agreement will provide insurance services for independent agent franchisees, including IHA's new campaign with SAM's Clubs Sam's Club is a membership-only warehouse club owned and operated by Wal-Mart Stores, Inc. History The first Sam's Club opened in April 1983 in Midwest City, Oklahoma in the United States.[1] Sam's Club is named after Sam Walton. ChoicePoint Inc. (NYSE NYSE See: New York Stock Exchange :CPS (1) (Characters Per Second) The measurement of the speed of a serial printer or the speed of a data transfer between hardware devices or over a communications channel. CPS is equivalent to bytes per second. ) announced today a preferred vendor agreement with Insurance Holdings of America L.L.C. (IHA See Intel Hub Architecture. ), parent of Consumer Insurance Services of America, Inc. (CISA (Certified Information Systems Auditor) The award for successful completion of an examination in information systems audit, control and security from the Information Security Audit and Control Association. See ISACA. ) and Insurance Technology Services of America, Inc. (ITSA ITSA Intelligent Transportation Society of America ITSA Interactive Travel Services Association ITSA International Transportation Safety Association ITSA Information Technology Services Agency (UK government) ), to provide insurance underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. products for CISA's GROUPadvantage(R) franchise program and its agent kiosks at SAM's Clubs. The agreement taps ChoicePoint as the preferred provider of insurance underwriting data products, motor vehicle records, claims histories and background checks on behalf of representative insurance companies for IHA's call center operations, franchised agency sites and SAM's Club-based automated kiosks. More importantly, the deal also represents ChoicePoint's continuing efforts to provide new and innovative delivery of insurance products and solutions. "The insurance industry is changing daily," said David Lee David Lee may refer to:
CISA and ITSA provide independent agents with a complete turnkey insurance office suite, most notably browser-based rating systems, agency management and accounting software, marketing materials and computer hardware. ChoicePoint's menu of underwriting data products will be an integrated part of the kiosks located at SAM's Clubs nationwide. "Our on-line access to ChoicePoint's insurance underwriting products facilitates CISA's point-of-sale full underwriting capability - a key difference in this market," said IHA 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. Brian K. McCarthy. "We're excited about the expanded services our customers now have with the ChoicePoint alliance. As we move forward, partnerships such as this will be critical in providing our independent agent customers the best tools for growing their business and serving their policy holders." As the leading membership warehouse club, SAM's Clubs boast not only a substantial consumer membership, but a significant number of small business accounts, creating a large market for both personal and business insurance products. For IHA, ChoicePoint's dominant position, technological capabilities, and breadth of information products brought the best solution for supporting a vast network. Insurance Holdings of America L.L.C. (IHA) serves its subsidiaries, CISA and ITSA, in management, marketing, financial and human resource capacities, acts as the procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. arm of the entire organization and is dedicated to the growth and development of its subsidiaries. Learn more about IHA at www.insuranceholdings.com. ChoicePoint is the leading provider of intelligent information to help businesses, governments and individuals better understand with whom they do business. Through the identification, retrieval, storage, analysis and delivery of data, ChoicePoint helps its customers make better, more timely and more informed business decisions. The company serves the risk management information needs of the property and casualty insurance market, the life and health insurance market, and the business and government markets, including Fortune 1000 corporations, asset-based lenders, professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. providers, and local, state and federal governments. For more information about ChoicePoint financial results, products and services and current events, visit www.choicepointinc.com.
CONTACT: IHA
Gary Larrabee, 978/927-6633 ext. 1690
glarrabee@insuranceholdings.com
or
Fletcher Martin, PR
Mark Wheeler, 404/221-1188 ext. 3176
mw@fletchermartin.com
or
Bari Love, 404/221-1188 ext. 3149
bl@fletchermartin.com
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