---

Bay of Quinte Mutual Inks Deal with iter8 to Implement Commercial Underwriting Solution

Toronto, November 2007 - iter8 Inc., an insurance solutions software developer, is pleased to announce that an agreement has been signed between Bay of Quinte Mutual Insurance and iter8 to implement iter8’s new Commercial Automation Solution. Bay of Quinte Mutual is the first customer for this product and by getting in on the ground floor will ensure their full commercial system needs are accommodated.

The iter8 Commercial Automation Solution will be configured to handle the Bay of Quinte Commercial product line and has the flexibility to expand beyond this to also address multiple commercial lines of business. The full web-based Commercial Automation Solution will include Online Quoting, Rating, Submissions Management, Underwriter Desktop and Collaboration, Broker Connectivity and Policy Administration.

The development and implementation project includes both Bay of Quinte Mutual resources and iter8 Professional services staff. Phase 1 will provide the online quoting, submissions management and rating applications to be piloted with several core brokers.

According to Glen Piller, President of iter8, “Securing this first sale of our commercial solution is crucial for iter8. We’ve been working on this product for many months, and now we have the opportunity to bring the product into operation and see the fruits of our efforts.” He added, “Bay of Quinte will participate in developing system requirements ensuring their needs are fully met, while iter8 will be able to draw upon their expertise garnered from years of commercial underwriting experience.”

The Bay of Quinte Mutual has been built upon relationships with a personal touch, and face-to-face interaction, with a not-for-profit mutual practice. This has built a strong regional presence, with a large concentration of commercial policy holders.

According to Jeffery D. Howell, General Manager of Bay of Quinte Mutual, “we want to continue to deal with our customers in this manner, but upgrade our technology platform and applications so that we can provide a personal touch, with fully automated and connected systems.” He also mentioned, “We partnered with iter8 because they have a strong record of delivering what they promise. iter8 are firmly committed to building a new commercial system, and this agreement enables us to get in early, and ensure the product matches our unique needs.”

About Bay of Quinte Mutual Company

Bay of Quinte Mutual is located in Picton Ontario and has been providing insurance products in Eastern Ontario since 1874. Products include Commercial, Home and Farm property policies. Bay of Quinte Mutual offers commercial packages for:

• Offices
• Retail Stores
• Contractors
• Churches
• Residential Rentals
• Bed and Breakfast Operations

In addition, outside of the packages offered, specific policies tailored to the needs of the insured can also be arranged.

Owned by policy holders and 100% Canadian, the company has a long history of community sponsorship and support for many local charities and organizations within Eastern Ontario. For more information, please visit www.bayofquintemutual.com/

About iter8

iter8 is a market leader in offering smart insurance solutions to increase competitiveness and profitability. The innovative combination of strategy, rules and workflow helps insurers reach their goals faster. iter8 has a track record of successfully streamlining insurance processes, improving time to market and saving companies money. Founded in 1999, iter8 has implemented proven, functional automated exception-based underwriting, claims management and data management solutions for insurers ranging from leading multinational companies to highly profitable niche firms. For more information, please visit www.iter8.com