EAC Invest AS (AQEU:EACC)
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eAutoclaims Set to Launch 'Audit-Pro'
New Product Receives Strong Market Demand
OLDSMAR, Fla., April 4 /PRNewswire-FirstCall/ -- eAutoclaims (OTC:EACC)
(BULLETIN BOARD: EACC) , a leading provider of managed collision repair
services and insurance claims processing technology applications, today
announced that the recent beta version of the Internet-based collision estimate
review application called Audit-Pro has received high marks from user groups in
testing and trials. The Audit-Pro product electronically audits estimates
written from auto appraisal sources and significantly reduces the manual
process of reviewing estimates for insurance companies. The company has a
waiting list of new clients ready to launch the 2.5 version when released in
mid-April. eAutoclaims' Special Markets Division, created to service the ADP
Claims Service Co-Marketing agreement, has also received commitments to use
Audit-Pro.
"We are excited about the early demand for our unique auditing platform.
Audit-Pro is a transaction fee-based product that adds another meaningful
component to our strategy of growing our high-margin ASP product line revenue,"
commented Eric Seidel, eAutoclaims President and CEO. "We expect to execute
several thousand monthly transactions through Audit-Pro in a short period of
time and ramp accordingly as full roll-out is reached. Based on the early
feedback, we believe the transaction count and corresponding click fee revenue
for this product will grow faster than we originally anticipated."
Audit-Pro is a proprietary online application developed by eAutoclaims. The
product electronically applies auditing guidelines established by insurance
companies to programmatically audit repair estimates for accuracy by
identifying exceptions. The significance of the exceptions are weighted
according to the carrier's value of the exceptions and routed based on the
severity of the exception to the correct person or third party for further
review. The estimate may also be automatically returned to the appraisal
source with a request to review the exceptions and resubmit. The current
review process used by most insurance companies involves manually auditing
collision repair estimates one at a time with skilled staff or by outsourcing
the service for a fee to third parties. Normally the fee for such service can
range from $25-$35 per transaction, depending on the detail and quality of the
service being provided. Standard Audit-Pro fees are normally $8 per
transaction and response time is instantaneous, thus saving time and money for
the client.
About eAutoclaims
eAutoclaims (OTC:EACC) (BULLETIN BOARD: EACC) is a business services company
that provides the insurance industry with claims management services through
both ASP and integrated outsourcing solutions. The Company's clients are
insurance companies, fleet management companies and insurance services
companies. eAutoclaims' solutions streamline the claims handling process,
decreasing the overall time and cost required to process a collision claim and
reducing average paid losses for its clients. The Company handles repair
estimates, repair audits, and claims systems administration services for
automobile claims that are processed and tracked via the eAutoclaims web-based
platform and network of service providers.
This announcement contains "forward-looking statements." Words such as
"anticipate," "believe," "estimate," "satisfies," "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.
DATASOURCE: eAutoclaims
CONTACT: Mark McPartland, Alliance Advisors, LLC, +1-910-221-1827, or
, for eAutoclaims
Web site: http://www.eautoclaims.com/