ST. PETERSBURG, Fla. and OLD GREENWICH, Conn., Oct. 28, 2004 – First Advantage Corporation (NASDAQ: FADV), a leading risk mitigation and business solutions provider, and IVANS, Inc. announced today that they have entered into an agreement to deliver motor vehicle records through IVANS insurance agent interface platform, Transformation Station™. As the industry leading Internet managed data exchange, Transformation Station uses Web services and ACORD XML to enable real-time transactions between insurance carriers and independent agents and brokers. First Advantage�s Motor Vehicle Records division subsidiary, American Driving Records (ADR), will provide IVANS with motor vehicle data to support client demand for this information.
With the new agreement, agents will be able to request and receive a motor vehicle report instantly from within their agency systems. Insurance agents and carriers use these records to make their underwriting decisions, and First Advantage�s ADR provides fast and reliable access to this data nationally. IVANS and ADR also intend to deliver additional MVR services to carriers that will provide value around Transformation Station real-time rating and issuance transactions.
‘To address our clients� needs, IVANS and American Driving Records have partnered to develop and offer a real-time MVR transaction through Transformation Station,� said Janice Sheffield, IVANS group vice president. �The new real-time MVR transaction was demonstrated with Applied Systems� The Agency Manager at the recent ASCnet TENCON, held in Orlando earlier this month.�
Transformation Station enables agents to retrieve and process insurance company policy transactions and account status information directly and immediately from within their agency management systems. The platform also facilitates quoting and policy issuance for dozens of insurance carriers.
�First Advantage and IVANS are both very excited to be able to offer our mutual customers the benefit of having a single interface solution that eliminates process and vendor redundancies,� said Paul Areida, president of First Advantage Motor Vehicle Records division. �Our partnership will result in both time and cost savings for these clients as they enjoy the convenience of an integrated solution that only IVANS and First Advantage can offer.�
About Ivans, Inc.
IVANS, Inc. provides the insurance and healthcare industries with fully managed network, EDI and agency-company interface solutions that provide seamless integration over public or private infrastructures. Headquartered in Old Greenwich, CT, IVANS serves over 475 insurance and healthcare organizations, more than 30,000 independent agents and 23,000 providers. IVANS, which was formed in 1983 by 21 insurance companies, also has offices in Tampa, Fla., and Cincinnati, Ohio.
About First Advantage Corporation
First Advantage Corporation (NASDAQ: FADV) provides best in class single-source solutions for global risk mitigation and enterprise and consumer screening needs. Incorporating state-of-the-art technology, proprietary systems and data resources, First Advantage is a leading provider of motor vehicle records, employment background screening, drug-free workplace programs and other occupational health testing, employee assistance programs, resident screening, investigative services, computer forensics and electronic discovery services, supply chain security, corporate tax and incentive services, and consumer location services. First Advantage ranks among the top three companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has more than 1,700 employees in offices throughout the United States and abroad. Further information about the company is available at www.FADV.com.
