eAutoclaims Set to Launch 'Audit-Pro'
04 Avril 2005 - 5:08PM
PR Newswire (US)
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/
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