ITM Associates Announces comTrac 2.0; Property & Casualty State Filings Receive 300% Boost from New Product

Rockville, MD, May 7 2003 - ITM Associates, Inc. announced today the immediate release of comTrac version 2.0, a compliance tracking software solution used by Property/Casualty (P&C) carriers to streamline the preparation and tracking of multi-state/multi-company filings.  comTrac provides total management control over product submissions and eliminates the inefficiencies and headaches associated with manual or "homegrown" tracking systems.  "The response has been overwhelmingly positive," said Ian Altman, President of ITM.  "To survive in today's economic environment, P&C carriers need to cut costs while but still maintain and even increase market share.  comTrac gives our clients an edge by enabling them to speed products to market, reduce costly fines, and free up staff to prepare and submit more new and updated insurance products."

comTrac was originally inspired by insurance product compliance and tracking systems developed by ITM for several major insurance carriers between 1999 and 2002. ITM's solution substantially reduced errors and omissions for these clients while also improving capabilities to track and report in multi-state and multi-company filing to state regulators.  ITM's market research found that other P&C carriers had similar requirements and a real need for technology that could be deployed quickly and provide an immediate return on investment.   "Our compliance team experienced a 300% increase in productivity each year for the first three years that we used ITM's solution,"  said Katherine Slonina, Compliance Officer, Kemper Insurance Companies.  "In July 2000 we processed 150 filings.  In July 2001 we processed 550!"

comTrac is based on proprietary ITM software combined with IBM DB2 v7 or Microsoft SQL Server 7/2000 databases.  comTrac software runs on a variety of server operating systems including AIX, Linux, HP-UX, Sun, and Windows.  The client operating system is Microsoft Windows 98/NT/2000/XP.   Pricing for as few as 9 users starts at $11,500.  Pricing is tiered according to the number of users.  Quick Start "packages" that include server and client access licenses, software maintenance and support, and up to three days of on site training and consulting range from $36,000 to $80,000.  For more information, contact Tom Nelson at 610-660-8660 or [email protected].

About ITM

ITM Associates has been providing insurance solutions to top 50 P&C carriers for 10 years.  ITM has won numerous awards including the prestigious Lotus Beacon Award for Best Industry Solution.  ITM's website is http://www.itmassociates.com.

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Tom Nelson
ITM Associates, Inc.Phone:  (610) 660.8660
Email:  [email protected]