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Wednesday September 28, 2005
Press Release
ChoicePoint Joins The Hartford as Strategic Investors
in XDimensional Technologies, Expanding Information
Services Available to Independent Agents and Brokers
Brea, CA, September 28, 2005 - XDimensional Technologies,
Inc. today announced that ChoicePoint (NYSE: CPS) and The
Hartford Financial Services Group, Inc. (NYSE: HIG) have
co-led a $20 million strategic investment that funds the
company’s expansion in the independent insurance agency
market. Additional terms of the transaction were not
disclosed.
XDimensional’s flagship product, Nexsure®, is the leading
comprehensive agency management Internet service for the
insurance industry. Nexsure puts critical information at
the fingertips of agents and carriers, delivering a
natural progression of the entire customer/policy life
cycle for any and all lines of business, from first
contact, to submission, to sale and to in-force policy
service. The addition of ChoicePoint as a strategic
investor with representation on the board of directors
further strengthens XDimensional’s position in the
marketplace.
"For almost a century, ChoicePoint has been a trusted
source and leading provider of decision-making information
that helps reduce fraud and mitigate risk. Combining that
experience with The Hartford’s almost two centuries of
insurance and investment wisdom provides XDTI with
invaluable strategic support," said Michael Walther, CEO
of XDimensional Technologies.
"As we bolster our leadership position in the insurance
industry, ChoicePoint continues to seek out revolutionary
products that accelerate distribution of our core services
to the independent agents and brokers," said Jeffrey
Glazer, vice president of ChoicePoint's Insurance Services
group. "We are particularly excited about the
functionality of the Nexsure product and the opportunity
to join The Hartford and XDimensional in creating true
real-time integrated solutions for the agency market."
Ray Sprague, The Hartford’s senior vice president of
strategic business development, said, “The Hartford is
committed to the value of technology in supporting
efficient agency-company transactions. As such, we are
very enthusiastic about our relationship with
XDimensional. An excellent example of the possibilities
for increased workflow efficiency is the recently
announced Nexsure XML integration with The Hartford
ExpressWaySM., which provides seamless data-sharing
between The Hartford’s personal lines quotation system and
Nexsure. With ChoicePoint as an investor, we are exploring
seamless integration opportunities between Nexsure and
Choicepoint’s Insurity and Priority Data products.”
Nexsure is available throughout the United States and is
endorsed by the Council of Insurance Agencies and Brokers
and the Michigan Association of Insurance Agencies.
About XDimensional Technologies, Inc.
XDimensional® Technologies, Inc. (www.xdimensional.com),
based in Brea, Calif., develops and markets Nexsure, the
Internet insurance agency management solution that
connects agents, carriers, brokers, and policyholders,
driving efficient business production, superior customer
service, and insightful business management.
About ChoicePoint
ChoicePoint (NYSE: CPS) helps businesses, government
agencies and nonprofit organizations make better decisions
through information and technology solutions. Each year,
ChoicePoint helps more than seven million people get the
jobs they deserve and more than 100 million people get
fairly priced home and auto insurance. Small businesses
can obtain affordable commercial insurance because of our
products. Businesses grow revenue with our marketing
services and cut costs through our authentication and
anti-fraud tools. Government agencies use our data and
technology to fulfill their missions in all parts of the
world. Visit
www.choicepoint.com for more information.
Certain written statements in this release and oral
statements made by or on behalf of Choicepoint may
constitute "forward-looking statements" as defined under
the Private Securities Litigation Reform Act of 1995.
Words or phrases such as "should result," "are expected
to," "we anticipate," "we estimate," "we project," or
similar expressions are intended to identify
forward-looking statements. These statements are subject
to certain risks and uncertainties that could cause actual
results to differ materially from those expressed in any
forward-looking statements. These risks and uncertainties
include, but are not limited to, the following important
factors: demand for Choicepoint’s services, product
development, maintaining acceptable margins, ability to
control costs, the impact of federal, state and local
regulatory requirements on Chiocepoint’s business,
including the direct marketing and public records markets
and privacy matters affecting Choicepoint, the impact of
competition and the uncertainty of economic conditions in
general. Additional information concerning these and other
risks and uncertainties is contained in Choicepoint’s
filings with the Securities and Exchange Commission,
including the Choicepoint’s Annual Report on Form 10-K for
the year ended December 31, 2004. Readers are cautioned
not to place undue reliance on forward-looking statements,
since the statements speak only as of the date that they
are made, and Choicepoint undertakes no obligation to
publicly update these statements based on events that may
occur after the date of this press release.
About The Hartford
The Hartford is one of the largest financial services and
insurance companies in the U.S., with worldwide revenues
of $22.7 billion in 2004. The company is a leading
provider of investment products, life insurance and group
benefits; automobile and homeowners products; and business
property-casualty insurance. International operations are
located in Japan, Brazil and the United Kingdom. The
Hartford's Internet address is
www.thehartford.com.
Some of the statements in this release may be
considered forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. The
Hartford cautions investors that these forward-looking
statements are not guarantees of future performance, and
actual results may differ materially. Investors should
consider the important risks and uncertainties that may
cause actual results to differ. These important risks and
uncertainties include those discussed in The Hartford’s
Quarterly Reports on Form 10-Q, The Hartford’s 2004 Annual
Report on Form 10-K and the other filings The Hartford
makes with the Securities and Exchange Commission. The
Hartford assumes no obligation to update this release,
which speaks as of the date issued.
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