Global Connections Inc. Signs National Deal With High Net Worth Group.OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--Aug. 2, 1999-- Global Connections Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:GLCO GLCO Great Lakes Chamber Orchestra (Petoskey, MI) ) Monday announced that its 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. , Insurance Benefits Service Association has signed a national deal with High Net Worth Group based in Atlanta. Under terms of the agreement, Insurance Benefits Service Association (IBSA IBSA India-Brazil-South Africa IBSA International Blind Sports Association IBSA Illinois Baptist State Association IBSA International Bible Students Association IBSA Independent Builders Supply Association IBSA International Black Student Alliance ) will provide national Internet produced financial and annuity leads, and referrals to High Net Worth Group. This financial relationship is expected to bring $12 million in annual premiums and $1 million in net revenue to Global Connections. Global Connections, which recently launched http://www.InsuranceBenefits.com, is strategically focused towards the online insurance industry. The Web site offers consumers access to a broad range of insurance product information and links consumers with a qualified licensed agent to interact with, for quotes and insurance solutions. Insurance Benefits Service Association is designed to compete directly with Insweb Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :INSW INSW Insert String Word ), in the online insurance services market. Recent projections for personal insurance sold on the net could easily swell to $11 billion in 2003 from $1.5 billion in 1998, according to market research firm Forrester Research. And the online mortgage market could surge to $90 billion by 2002, noted Forrester. Now with the growing demand for services of providing auto insurance and home loans online, online insurance services provider Global Connections is positioning itself to be the global leader. Stephen Bowman, chief executive officer of Global Connections, said in a recent interview, "Take just one financial market, auto insurance, it's $120 billion. And the U.S. mortgage market is $1.2 trillion." "Finance," commented Bowman, is "the mother of large markets." Insurance Benefits Service Association, the world's first 24-hour nationwide Internet insurance service association, offers immediate leads and other sales support to individual agents and brokers who join IBSA. Global Connections' new nationwide Internet service combines the best of both worlds because it allows consumers to shop for virtually all insurance products online and also interact with a qualified agent. All product lines, including personal, business, life and health, auto, home, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , retirement planning, and supplemental products such as Medicare supplements, are listed with a product description. Besides providing access to a broad array of products, InsuranceBenefits.com also offers consumers insurance solutions, rather than just products -- helping consumers to resolve their insurance problems and showing them how to find a policy that's right for them. Consumers who go to the site to shop for insurance can complete application questions about the product that interests them. The application is then instantaneously e-mailed by IBSA, which serves as the conduit, to one of its agent members in the territory closest to the applicant. The agent in the territory responds to the applicant either via the phone or the Internet and comes back with a quote. The advantages of InsuranceBenefits.com include a large range of products since the agent members of IBSA represent insurance carriers throughout the country. InsuranceBenefits.com is also aiming to expand the concept of buying insurance over the Internet by offering more complicated decision type items, which is especially where the agent is a factor for the online shopper. Global's mission is to bring electronic commerce to the world by combining leading edge technology with human customer service interaction. Investors and media correspondents seeking additional information can contact the public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firm Wall Street Marketing Group Inc. at 949/477-0640. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of 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. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion