Exhibit 99.2
Narrative description of eAutoclaims.com, Inc.'s business operations.
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This information contains forward-looking statements regarding the Company's
business strategy and future plans of operation. 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 narrative 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.
eAutoclaims.com, Inc. ("eAuto") was formed in December 1999. eAuto is
a business to business e-commerce company that utilizes the Internet to lower
the overall costs of automotive repair paid by insurance companies. The company
is creating an online digital automotive maintenance organization industry in
the $60 billion market segment of non-standard auto collision repair. eAuto
intends to establish itself as an Application Service Provider ("ASP") for the
automobile insurance industry, providing a back end infrastructure that links to
thousands of collision repair shops and support facilities in a Preferred
Provider Network ("PPN"). The company offers a cost effective Bricks to
Clicks(C) solution for the processing and ultimate repair of damaged vehicles
filed as insured auto claims. EAuto generates revenues from administrative fees
and rebates earned by processing collision work through its system.
The company also participates in the corporate automobile fleet
management business. The fleet management business exists out of a desire for
large corporations to self insure their collision repair claims on their captive
automobile fleets. Large corporations have found that "middleman" insurance
companies charge premiums beyond the cost of self insurance. eAuto earns fees
and rebates on repairs done by affiliated collision shops. The company currently
has approximately 5,000 fleet vehicles under contract.
Competition
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The company competes with independent adjusters and fleet management
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services. Although none of the competing companies offer clients an Internet
based product that is customized to appear as the clients own proprietary site.
EAuto is the only provider of this service who takes on the role of an
Application Service Provider.
eAuto's products perform in virtually all situations. The company
believes that the ability to lower paid claim costs with full capability on any
form of insurance claim is unique to eAuto's products. The ability to close the
file within a minimum number of working days is unique to this product, and
research indicates its performance is equivalent to anything else on the market
today. With the completion of the company's core web site, the company believes
that this turnaround time will be cut to a four-day average.
Management
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The eAutoclaims.com(TM) current management team consists of 3 officers, 5
managers and a key senior advisor. Their backgrounds consist of more than 65
years of experience. CEO and advisory staff have a total of 35 years of
corporate development experience with corporations such as First American AMO,
Salex Corporation, American Bankers Insurance Group and Capital Holding
Corporation.
Officers & Key Employees Age
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Jeffrey D. Dickson, Director 56
Eric Seidel, President and CEO 36
Gaver Powers, Chief Information Officer 45
Teresa McSherry, Vice President of Sales 39
Crystal Butterworth, Operations Manager 37
Jeffrey D. Dickson, Director
BA-History, University of Colorado
AMP - Harvard Graduate School of Business
Strategic Marketing - Stanford Graduate School
Serves as senior advisor to the President and Chairman of our Board of
Directors. Mr. Dickson's experience as CEO of First American AMO provides great
insight for the company. Mr. Dickson mentoring role with the company's president
serves as a great resource for company strategic decisions.
Mr. Dickson's professional experience includes many different areas in the
Finance, Insurance and the Auto Industry.
He has served as Executive Vice President of the American Bankers Insurance
Group, Miami, Florida, President of Insurance America, a Capital Holding
subsidiary of Louisville, Kentucky, and president of Interloc Corp. of Largo,
Florida.
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Eric Seidel, President/CEO
Develops and maintains the company vision. Oversees all areas and company
departments. Approves all financial obligations. Seeks business opportunities
and strategic alliances with other organizations. Plans, develops and
establishes policies and objectives of business organization in accordance with
board directives and company charter. Directs and coordinates financial programs
to provide funding for new or continuing operations in order to maximize return
on investments and increase productivity.
Mr. Seidel served as Co-founder of First American AMO, developed sales and
marketing strategy for the company. Sold First American AMO's service and
developed the sales training program for all new sales people.
Mr. Seidel's professional experience includes many different areas in the
Finance, Insurance and Sales Marketing industry. He serves as a Director of the
privately held International Training Corporation.
Mr. Seidel has been recognized as an international speaker and trainer. He has
spoken in over six countries and 40 states in the US. He has spoken to business
and volunteer audiences in China, Japan, Philippians, Hong Kong, Macau, Panama,
Finland and many others. He was the keynote speaker during the Japan/US Business
Exchange at the historic Waldorf Astoria Hotel in New York City in June of 1998.
He has been consistently recognized as a top performer in every organization he
has been associated with, and Mr. Seidel's marketing experience covers many
diverse areas.
Gaver Powers, Chief Information Officer
Manages and develops the company's technology projects. Responsible for research
in digital transfer and applications relate to web based technology. Overseas
and manages all web related projects and internal operations systems.
Mr. Powers has developed the early phases of eAutoclaims.com core web site for
our shop up-loads. He is building the full eAutoclaims.com (TM) claims
application.
Mr. Powers has spent 21 years working on the NASA space shuttle as a lead
programmer. He was the number two-man in charge of the space shuttle orbiter.
He is also an owner in the web site company Flamingo Software. Where he has
developed hi-tech proprietary programs for the boat building industry and has
many patents pending. His contract with eAutoclaims.com (TM) grants all
inventions and developments for eAutoclaims.com to the Company not himself or
Flamingo Software.
Teresa McSherry, Vice President, Sales
Manages market planning, advertising, public relations, sales promotion,
merchandising, and facilitating staff services. Identifies sales markets and
opportunities. Oversees sales training to sales personnel. Identifies and sets
strategy for reaching sales goals, elevating completion.
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Miss McSherry has served as the Regional Vice President for First American AMO,
in their Western Division for two years. Responsible for setting new sales
records with accounts such as Safeco Insurance Company, PepsiCo Company and
Gates Oil Company to name a few.
Crystal Butterworth, Operations Manager
Ms. Butterworth has over 15 years of experience in the Insurance Industry, most
recently with the Hartford Insurance Company. She has been in the supervisory
management capacity for most of her career. She has an Adjusting License and
also holds a Senior Claims Law Associate designation (SCLA).
eAuto employs a total of 23 employees. eAuto believes that its
relations with its employees are good.
