Zurich Direct Underwriters Joins DealerTrack Aftermarket Network(TM)
LAKE SUCCESS, N.Y., Oct. 9 / -- DealerTrack Aftermarket Services, Inc., a subsidiary of DealerTrack Holdings, Inc. (NASDAQ:TRAK), today announced that Zurich Direct Underwriters (Zurich) has joined the DealerTrack Aftermarket Network(TM), an industry-leading solution for real-time aftermarket contract rating, quote generation and digital contracting. Zurich is a leading provider of automotive aftermarket products and services, including vehicle service contracts, guaranteed auto protection (GAP) insurance, Simoniz System 5 and theft deterrent systems.
"This agreement with Zurich, one of the premier companies in automotive aftermarket services, is a significant win for DealerTrack - and ultimately for the dealers we serve together," said Mark O'Neil, chairman and chief executive officer of DealerTrack. "We are pleased about this powerful new collaboration, combining Zurich's F&I experts in the field with DealerTrack's technology to help create efficiencies for auto retailers. Zurich serves more than 2,000 U.S. auto dealers with a direct sales force of over 300 people, who will now be well-positioned to provide a more streamlined F&I work flow for their dealer customers through the DealerTrack Aftermarket Network."
Zurich is one of 31 providers who have agreed to join the DealerTrack Aftermarket Network, which provides dealers with free access to real-time information on participating aftermarket products and services. DealerTrack's online rating and digital contract functionality creates a faster F&I process, improves accuracy, and eliminates duplicate data entry for both dealers and aftermarket providers. Dealers subscribing to DealerTrack's eMenu, which is fully integrated with the Aftermarket Network, can realize even greater efficiencies.
"The DealerTrack Aftermarket Network is a compelling opportunity for Zurich to further increase our market penetration and enhance customer satisfaction," said Bill Stoothoff, vice president of F&I at Zurich Direct Underwriters. "Providing real-time data on Zurich's available options and pricing for each vehicle and deal, and digital contracting through the DealerTrack platform, will help reduce delays, contract errors and administrative costs. We expect this will drive significant benefits for dealers and consumers.
About Zurich Financial Services
Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 58,000 people serving customers in more than 170 countries.
About DealerTrack
DealerTrack Holdings, Inc. (NASDAQ:TRAK) is a leading provider of on- demand software and data solutions for the U.S. automotive retail industry. Our solutions enable dealers to receive consumer leads, submit credit applications, compare financing and leasing options, sell insurance, vehicle accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the company provides dealer management systems (DMS) through its Arkona, Inc., subsidiary. Over 22,000 dealers, more than 425 financing sources, and many other service and information providers are active in the DealerTrack network. For more information, visit www.dealertrack.com.
Factors that might cause such a difference include: increased competitive pressure from other industry participants, the inability to execute any element of DealerTrack's business strategy, including the retention of dealers and aftermarket providers; selling additional products and services to existing and new customers; success in expanding our customer base and product and service offerings and integrating acquisitions; and other risks listed in our reports filed with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2006.
CONTACT:
Raphael Carty
DealerTrack
(516) 734-3777
raphael.carty@dealertrack.com
Stephanie Lowenthal
RF|Binder Partners
(212) 994-7619
stephanie.lowenthal@rfbinder.com
FCMN Contact: Kenneth.Kraft@RFBinder.com
Source: DealerTrack
Web site: www.dealertrack.com/
