Exhibit 99.1
Joint Press Release, dated June 14, 2000 issued by eAutoclaims.com, Inc. and
Premier Express Claims, Inc.
<PAGE>
eAutoclaims.com Signs Definitive Merger Agreement With Premier Express Claims
Agreement Provides Additional Revenue and Value-Added Services
June 14, 2000 05:00 AM Eastern Time
PALM HARBOR, Fla., June 14 /PRNewswire/ -- eAutoclaims.com(TM) Inc. EACC today
announced it has signed a binding agreement to merge with Premier Express Claims
(PEC). With $4.2 million in sales, a state-of-the-art call center, 21 existing
insurance clients, and over 4100 vendors, PEC is one of the largest independent
auto glass networks in the country. The terms of the agreement were not
disclosed.
eAutoclaims.com will integrate PEC's glass network in the company's Internet
based "Bricks to Clicks Claims System (TM)", making all existing services
available to both company's clients with just a click of their claims department
mouse. Both company's call centers will remain in full operation, connected
virtually via the Internet. The PEC management team will be integrated into
eAutoclaims.com with PEC's CEO, Randy Wright to become eAutoclaims.com's new
chief operating officer.
Eric Seidel, president, and CEO of eAutoclaims.com commented, "Our agreement
with PEC creates a tremendous growth opportunity for our company, and will
immediately enhance both company's clientele base with new value-added services.
In addition, Mr. Wright's years of experience will be a great asset to our
organization and I am excited about working with him."
About eAutoclaims.com:
EAutoclaims.comTM Inc. is a pioneering business-to-business e-commerce company
that utilizes the Internet to streamline and lower the overall cost of
automotive repair paid by insurance companies. The company is creating a new
online digital automotive maintenance organization industry within the $60
billion market segment of the non-standard auto collision repair.
Eautoclaims.com(TM) Inc. is establishing itself as the pre-eminent Application
Service Provider for the automobile insurance industry, providing seamless
back-end infrastructures that link thousands of collision repair shops and/or
support facilities into a network. The company offers a cost effective and
highly advanced "Bricks to Clicks Claims System (TM)" for the processing and
ultimate repair of damaged vehicles filed as insured auto claims.
eAutoclaims.com(TM) Inc. generates revenue from administrative fees and
discounts earned by processing collision work through its system for insurance
companies.
About Premier Express Claims:
PEC is an independent third party provider of insurance claim services,
including First Notice of Loss, After Hours Claims Reporting, Auto Glass Claim
Services, Estimate Auditing and Subrogation. These programs produce cost
savings, generate operating efficiencies and enhance management control. PEC
combines leading-edge technologies, organizational flexibility, and a high-touch
customer service orientation to develop and deliver the finest claim
administration services available. Their success in accomplishing this is
evidenced by a 99% Customer Satisfaction Index. PEC's 24 hour national call
center is staffed with licensed adjusters and highly trained customer service
representatives. CSRs are required to participate in ongoing training, and are
monitored, recorded and critiqued on a weekly basis. Premier management places
"blind" quality assurance calls into our call center on a daily basis. PEC
utilizes a Computer Telephony system, which integrates LAN-based client/server
computing with state-of-the-art telecommunication technology.
Forward looking statements involve known and unknown risks and uncertainties.
These and other important factors, including those mentioned in various filings
with the Securities and Exchange Commission made periodically by the Company
(available to the public at www.sec.gov), may cause the actual results and
performance to differ materially from the future results expressed in or implied
by such forward looking statements. The forward looking statements contained in
this press release speak only as of the date hereof and the Company disclaims
any obligation to provide public updates, revisions or amendments to any forward
looking statements made herein to reflect changes in the Company's expectations
or future events.
SOURCE eAutoclaims.com, Inc.
