CoVirt Announces 3 More MGA’s Switch to VirtGate Internet Policy and Advisor and Management Service

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VirtGate is emerging as a key business strategy that enables MGA�s to drive down costs, increase efficiency and focus on their core functions

Toronto, Ontario — November 7, 2003 — CoVirt Inc. (Canada) has executed agreement where CoVirt will supply three life insurance managing general agents with VirtGate, a multi-channel policy management and advisor service delivered through the Internet. The three unrelated MGA’s are:

  1. Daystar Financial Group Inc., Winnipeg, Manitoba
  2. Independent Financial Concept Group Inc., Toronto, Ontario
  3. Insurmax Inc., Sudbury, Ontario

Tim Fitzpatrick, President at CoVirt, said, �Sales are brisk and we welcome these three newest members of the growing VirtGate family. More and more we are finding that enterprises want to expand and franchise their successful operating methods, leveraging knowledge and management across strategic alliances. The ability to respond quickly and accurately to advisor issues is a key to success. VirtGate is the perfect front and back office to support their initiative providing a personalized interactive gateway to their advisors to all kinds of resources, data, and tools. There are no user fees, and VirtGate supports an unlimited hierarchical flexible structure where there can be an unlimited number of groups, brokers can belong to an unlimited number of groups, and administrators can be set for any group of groups. The customer administrator can set all this up in minutes again with no increase in fees.�

Gary Mandel, President of Independent Financial Concept Group said, “Our mission is to help our brokers deal with the ever constant changes in the financial services industry and provide them with the most up to date tools so they may in turn provide the very best advice and service to their clients. VirtGate becomes our foundation for a successful partnership with our distributors.�

T. Alexander Crossgrove, President of Insurmax concurs and said, �VirtGate is huge leap forward – at any time our advisors can view all our records on their behalf – new business, all policy files, their contracts, licenses, E & O, commissions and more. This will not just be a copy of yesterday�s data posted to a web page — this is real time as it is the actual system and data used by our staff to compile and manage policy and contract information on our advisor�s behalf. And that is not all � VirtGate becomes our contact manager to provide our advisors and branches information about seminars, meetings and incentives, to keep them current on industry news and product changes, and to provide direct links to carrier forms and software. We are very excited!�

Rene Pereux, President of Daystar Financial Group Inc. concluded “Our staff says the VirtGate Internet based service is much more user friendly than other software packages, and much more targeted for our needs as a MGA.”

Tim Fitzpatrick concluded, �It is our goal to make the independent MGA distribution channel the most cost effective and efficient system for life insurance distribution.�

About CoVirt:

CoVirt�s VirtGate Internet policy and advisor management service is a total integrated solution that MGA’s and their advisors need to succeed today, as well as the flexibility they need to respond to the complex challenges of tomorrow. VirtGate provides superior advantages that turns the agency web site into a sales pipeline portal permitting CoVirt customers to focus on the fundamental core expertise that is the key to their success. VirtGate is much faster than typical internal LAN based software and customers can tie as many offices and users together as they wish � all with no user fees. VirtGate also includes online integrated document management where documents are posted to the advisor record, policy record, or public library in seconds. VirtGate is worry free — all that is needed is a standard web browser and access to the Internet — nothing is installed on the user’s machine or customer�s server at all. For more information, see