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TurboCoverage and CVR Form Strategic Alliance To Roll Out Auto Insurance Service to Car Dealerships in California

SAN JOSE, Calif. -- TurboCoverage, the first web-based auto insurance service for auto dealerships, has announced a broad strategic partnership with Computerized Vehicle Registration (CVR), the nation's largest provider of electronic vehicle registration, to install the TurboCoverage platform in auto dealerships throughout California.

CVR, which has relationships with more than 1,000 dealers in California, will install TurboCoverage-powered workstations in showrooms and support joint marketing efforts to roll out TurboCoverage's pioneering, real-time insurance service. CVR's dealer network in California includes some of the country's best-known dealer groups.

TurboCoverage and CVR intend to install the TurboCoverage platform in 300 stores in 12 months and then roll out the platform in more than a dozen states. CVR, which is a joint venture between Automatic Data Processing, Inc. and The Reynolds and Reynolds Company, has relationships with more than 5,000 dealerships across the country.

"TurboCoverage strategically complements our core product offerings and will help dealers improve sales, customer satisfaction and productivity," said Bob Koplowski, CVR Division Vice President and General Manager. "TurboCoverage is a simply a great product that is long overdue in dealers' showrooms. It serves every constituent of the insurance transaction well -- dealers, consumers and insurance companies -- and it smartly leverages technology. TurboCoverage has a strong management team and technology platform, and it is a natural fit in other states where we do business."

Phil Barry, CEO of TurboCoverage said: "CVR is a perfect strategic partner for TurboCoverage that will enable us to accelerate our nationwide rollout. CVR has the dealer relationships, sales infrastructure, and brand strength to help extend our position as first mover in this space. Leveraging CVR's position in the market, TurboCoverage has an opportunity to offer insurance to many of the 7 million consumers who annually need insurance when they are buying a car at a dealership."

TurboCoverage is revolutionizing the insurance transaction in the dealership by enabling car buyers to secure insurance in just a few minutes. TurboCoverage shortens the insurance transaction to about 10 minutes from more than an hour, and it eliminates dealers' reliance on binder faxing systems and off-site agents serving multiple dealerships. TurboCoverage's insurance companies, all rated A- or better, include the following:

• Infinity Insurance Company, a member of the Great American Insurance Group;
• Leader Insurance Company, a member of the Great American Insurance Group;
• Financial Indemnity Company, a unit of Unitrin Property and Casualty Insurance Group;
• TOPA Insurance Company;
• Western United Insurance Company, a unit of California State Automobile Assn. (CSAA);
• Republic Indemnity, a member of the Great American Insurance Group;
• Workmen's Auto Insurance Company;
• Interstate Insurance Group, a division of Firemen's Fund-Allianz.

CVR is a general partnership of Automatic Data Processing, Inc. and The Reynolds and Reynolds Company. Formed in 1992 and chartered to develop and administer secure systems to transmit electronic transactions to and from State Departments of Motor Vehicles, CVR's clients include franchised automobile dealers, financial institutions, insurance companies and agents, salvage operations, rental car companies, fleet providers, and several multi-state retail consolidators. CVR processes nearly 2 million vehicle transfers and 3.5 million secured DMV inquiries annually.

TurboCoverage is the nation's first web-based auto insurance service for dealerships that enables car-buyers to instantly purchase coverage at the time of the vehicle sale, in about ten minutes. TurboCoverage workstations are installed in numerous locations and offer a choice of coverage from leading insurers. TurboCoverage is based in San Jose, California, and its investors include executives from the auto dealership and insurance industries.

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