Checkfree Corp (MM) (NASDAQ:CKFR)
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Premier Insurance Company and CheckFree Bring Customers Electronic Billing and
Payment Options
-- Premier's Massachusetts Automobile Policy Holders Can Realize Increased
Convenience, Financial Control and Time Savings with the New Service--
ATLANTA, Nov. 11 /PRNewswire-FirstCall/ -- CheckFree Corp. today announced
that Premier Insurance Company of Massachusetts, a subsidiary of The Travelers
Indemnity Company, is giving its 230,000 automotive insurance customers the
option to receive and pay their bills online.
Premier began offering its automobile policy holders online billing and payment
via Premier's Web site ( http://www.premierins.com/ ). At this site, Premier
customers can review and pay their auto insurance bills electronically, in
addition to a growing number of other CheckFree e-Bills(TM) at more than 1,000
consumer service provider sites powered by CheckFree. These sites include
leading bank, portals, credit unions, brokerage firms, personal financial
management (PFM) software sites and MyCheckFree.com . By visiting any of these
sites, Premier's customers will be able to view bills from Premier and other
billers online and schedule payments using their checking or money market
accounts. Consumers can make payments from their computers to anyone to whom
they would write a check, such as individuals and small businesses. To find out
what bills are available online and to help identify which site is best suited
for electronic billing and payment needs, consumers can visit
http://www.checkfree.com/ .
Electronic billing and payment services provide Premier's customers with an
easy, efficient way to gain more control over the payment of their monthly
bills. Customers can quickly retrieve and review the same billing information
they currently receive by mail. With a few clicks of the mouse, the customer can
choose the payment date, rather than trying to remember when they need to mail
the payment, to ensure arrival by the due date. As a result, Premier customers
will no longer have to spend time writing checks, manually recording payments,
stuffing envelopes and locating stamps to pay their insurance bills. Unlike
paper payments, customers who pay their bills electronically are protected by
the CheckFree Guarantee against late fees resulting from processing delays, as
well as liability for unauthorized transactions. At a consumer service provider
site, all payment information is stored on a single, secure online site for
record keeping purposes, and data may be downloaded to a personal financial
management software program.
"With electronic billing and payment, our customers can receive their policy
invoices more quickly, and will gain the flexibility to make payments faster and
to automatically set up monthly payments through their accounts," said Desiree
Darch, Internet Manager, The Premier Insurance Company of Massachusetts.
"Additionally, Premier will be able to lower internal expenditures by decreasing
paper output and postage costs."
"By providing electronic billing and payment options to its automobile policy
holders, Premier is demonstrating its dedication to customer satisfaction," said
Doug Krapcho, senior vice president of CheckFree's Biller Solutions business
unit. "Through the new payment options, Premier policy holders can view and pay
their invoices at the online destination that is most convenient for them, as
well as gain better control of their finances."
About The Premier Insurance Company of Massachusetts
The Premier Insurance Company of Massachusetts was established in 1993 by The
Travelers Indemnity Company to provide personal lines insurance in
Massachusetts. As a Travelers subsidiary, Premier belongs to a family of
companies with tremendous financial strength. As a Massachusetts domestic
insurer, Premier focuses specifically on the ever changing and challenging
Massachusetts personal lines market.
About CheckFree ( http://www.checkfreecorp.com/ )
CheckFree (NASDAQ:CKFR) is the leading provider of financial electronic commerce
services and products. Founded in 1981 and celebrating its 23rd year in
e-commerce, CheckFree is comprised of three divisions: Electronic Commerce,
Software, and Investment Services. CheckFree launched the first fully integrated
electronic billing and payment solution in 1997. In the quarter ended September
30, 2003, more than 11 million consumers initiated online payments through
services offered by CheckFree's Electronic Commerce division. Electronic billing
and payment is available through more than a thousand financial services
organizations, including banks, brokerage firms, Internet portals and personal
financial management (PFM) software. At these sites, consumers are able to
electronically receive and pay about 300 bills, representing the bills most
common to a U.S. household. CheckFree delivers nearly 15 million e-bills each
quarter. CheckFree Investment Services provides a broad range of investment
management services to thousands of financial institutions nationwide. The
division's clients manage more than 1.3 million portfolios totaling more than
$700 billion in assets.
CheckFree's Software division provides solutions through three operating units:
CheckFree ACH Solutions, CheckFree Financial and Compliance Solutions (CFACS),
and CheckFree i-Solutions. CheckFree ACH Solutions provides software and
services that are used to process more than two-thirds of the nation's nine
billion Automated Clearing House payments, while CFACS provides reconciliation
and compliance software and services to more than 500 organizations in the
banking, brokerage, utility, retail, insurance and credit card industries, among
others. CheckFree i-Solutions is the leading provider of e-billing and
e-statement software and services for both business-to- consumer and
business-to-business applications, with more billers as clients than all of its
competitors have combined.
Certain of the Company's statements in this press release are not purely
historical, and as such are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These include statements
regarding management's intentions, plans, beliefs, expectations or projections
of the future. Forward-looking statements involve risks and uncertainties,
including without limitation, the various risks inherent in the Company's
business, and other risks and uncertainties detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange Commission,
including Company's Form 10-K for the year ended June 30, 2003 (filed September
15, 2003) and Form 8-K (filed October 21, 2003). There can be no assurance that
the forward-looking statements made in this document will prove to be accurate,
and issuance of such forward-looking statements should not be regarded as a
representation by the Company, or any other person, that the objectives and
plans of the Company will be achieved. All forward-looking statements made in
this press release are based on information presently available to management,
and the Company assumes no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation
CONTACT: Media, Judy DeRango Wicks, +1-678-375-1595, or
, or Investor relations, Tina Moore, +1-678-375-1278, or
, both of CheckFree Corporation; or Desiree Darch of
Premier Insurance Co. of Massachusetts, +1-508-751-4345, or
Web site: http://www.checkfreecorp.com/
http://www.checkfree.com/
http://www.premierins.com/