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Letter to the Editor

Southern United Fire Insurance Company Selects eAutoclaims

eAutoclaims' President/CEO, Eric Seidel, said, "Southern United Fire is a good fit for our outsourcing application. The contract will allow them to take advantage of our experienced shop network and also allow Southern United Fire to use our Service Partners, such as our national Independent Adjusters network, Salvage partners and others, all at the click of their mouse." eAutoclaims' Service Partners program enables carriers to manage their loss adjustment expenses through national contracted pricing and shorten cycle time.

Southern United Fire Insurance Company operates in the states of South Carolina, North Carolina, Georgia and Alabama.

Richard Murray, President and CEO of Southern United Fire Insurance Company, said, "I am pleased that this contract had been struck, as Southern United has already lowered its average paid loss by $100.00 per claim during the test period. We are also taking advantage of the network of Independent Adjusters and flat rates pricing model, as well as the national shop network -- both are lowering of our Loss Adjustment Expense. It's just good business."

eAutoclaims provides the insurance industry with claims management services through both ASP and integrated outsourcing solutions. 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.

In other company news, eAutoclaims has been ranked Number 104 on the 2003 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on average percentage revenue growth over five years, from 1998-2002. eAutoclaims grew 3,581 percent during this period.

Seidel said, "The company has seen revenues grow from just $877,000 to over $32 million in our very short period of existence. This would not happen without the development of our outstanding technologies and our associates' focus on providing outstanding customer service."

"Attracting enough customers to maintain triple-digit growth over five years makes a strong statement about the quality of a company's product and its leadership," said Mark Evans, National Managing Partner of Deloitte's Technology, Media & Telecommunications Group. "eAutoclaims has shown the right stuff for growth."

Overall, companies that ranked on the 2003 Technology Fast 500 had growth rates ranging from 469 to 296,080 percent over five years, with an average growth rate of 5,493 percent.

The Fast 500 list is compiled from Deloitte's 20 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 1998 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively; and 2002 operating revenues must be at least $1 million USD or CD. Deloitte researchers examined financial statements to validate operating revenues.

Entrants must also be public or private companies headquartered in North America and must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.

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