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FOR IMMEDIATE RELEASE
AMS Services Launches Industry Leading Premium Finance Network
Acquires FinancePro, Leading Provider of Web-Based Premium Finance Solutions
Bothell, WA - March 16, 2006 – AMS Services today announced the launch of the Prevail Network, an innovative agent-oriented premium finance marketplace designed to provide insurance agents one-click access to multiple premium finance offerings for their complete set of financing needs. This unique network will enable agents to quickly find the right financing terms across the vast number of finance companies and options available. In conjunction with the launch of the Prevail network, AMS also announced the acquisition of FinancePro, the leading developer of Web-based premium finance solutions.
The Prevail Network
Prevail is a user-friendly network that allows agents to seamlessly access a broad array of premium finance offerings from within their agency management system. Agents simply launch the Prevail network from within their existing interface and Prevail does the rest by using its advanced finance matching rules to find the right financing deals. Quotes come back with an integrated PDF-based agreement and agents can use the Prevail compensation UI to adjust fees and rates for the best value. Through Prevail, all agreements from all financing partners are available through a single Web site including account status information eliminating the need for agents to repeatedly learn new tools and interfaces as they add premium finance partners.
"The Prevail Network is an efficient Web-based marketplace of quality premium finance companies designed to give agents the best total financing experience possible for quick and easy premium financing." said Jim Harding, senior vice president Premium Finance. Prevail is currently integrated with CIS AIM and InStar with announcements forthcoming for AMS 360, Sagitta, and AfW and Prime.
FinancePro Acquisition
FinancePro is a Web-based solution for premium finance loan management and agent quoting. FinancePro is currently in use by large independent finance companies as well as leading MGAs. In addition, FinancePro is in use by an increasing number of retail agencies that want to provide their own financing offerings to their customer base. For these agencies, FinancePro provides everything they need to operate a premium finance business via a hosted service immensely simplifying the costs and effort required to provide retail-based premium financing.
"FinancePro's hosted services capability is tightly aligned with our strategic leadership in outsourced technology for the insurance agency business" said Euan Menzies, president and CEO of AMS Services. "AMS looks forward to making this service available to our 30,000 hosted users and our over 100,000 in-house agency professionals."
"I am personally very excited about AMS Services' ability to quickly bring the Prevail Network and FinancePro products to the insurance value chain," said Harry Snyder, FinancePro founder. "I am confident that agencies and premium finance companies will both benefit greatly from the combination of AMS and FinancePro."
About FinancePro
Based in Issaquah, Washington, FinancePro is the leading Web-based premium finance loan management system. The company services large and small independent premium finance businesses as well as MGA-and agency-based finance companies. FinancePro has always focused on making the end-to-end process of agents getting financed quotes over the Web simple and fast as well as providing the myriad features necessary to manage and efficient insurance premium finance business. FinancePro's products require no software installation. All access is via a web browser through a secure log-in. For more information on FinancePro, please visit www.financepro.com.
About AMS Services
AMS is dedicated to helping independent property and casualty insurance agencies achieve maximum performance and operational efficiency. The business offers a comprehensive, insurance-specific solution for managing critical business activities, including agency management, rating, benefits, performance management and carrier connectivity. With more than 150,000 users in over 15,000 agencies, as well as 300 carrier partners, AMS is a proven market leader providing the strategy and scalability to help independent agencies excel now and in the future. For more information on AMS Services, please visit www.amsworld.com.
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