CoVirt Announces that Four More Brokerage Firms Switch to VirtGate

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Toronto, ON – April 18, 2005 — CoVirt Inc. (Canada), the Canadian leader in Internet-based life insurance administration services announced today that four more brokerage firms have made the switch to selected VirtGate as their integrated advisor and policy management system. The newest members of the rapidly growing VirtGate family are, in alphabetical order:

  1. CF Canada Financial Group Inc.

  2. Edge Benefits Inc.

  3. Financial Horizons Incorporated

  4. Fulcrum Financial Group Inc.

Bharat Anand, President of CF Canada Financial Group in Vancouver said �VirtGate focuses on centralizing the channels for information flow which gives us the opportunity to build advisor relationships and enhance current relationships. Once we start bringing information to our advisors and employees through VirtGate, productivity will increase because they will have more information at their fingertips, and spend less time searching for files.�

David Prince, President of Edge Benefits in Toronto added �We can promote the advisor relationships through VirtGate. VirtGate is a centralized online system in which we track advisors and their clients across our branches and share access to this data with each advisor, including sharing documents. VirtGate allows us to focus on centralization of information, cut out redundancy, improve accuracy, and reduce the cost of information storage and at the same time increase productivity.�

John Hamilton, President of Financial Horizons in Kitchener, contributed �Insight and knowledge are the weapons CoVirt uses to proactively lead the market and delight their customers. Our insurance professionals deserve the best tools to keep them at the top of their game, and VirtGate was mentioned more than once when we surveyed the solutions in the marketplace. Our goal is to provide widespread Internet connectivity allowing advisors the freedom to work wherever they desire. VirtGate makes it easy to move prospects through each phase of the sales process and provide top-notch client service while sharing key customer data between staff across our branches and their advisors.�

Troy Van Dyk, President of Fulcrum Financial Group in London said �VirtGate’s unique ability to offer total enterprise reporting as well as mission critical performance and scalability has made it the solution of choice in Canada. The insurance organization of the future will have a lot of demands and VirtGate is the answer. When any organization thinks about adding modern technology as a way to leverage process management, a focus on how you get return on investment out of technology is crucial.�

Tim Fitzpatrick, President of CoVirt, concluded, �Brokerage firms need to aggregate their data, then report and account across three to fifteen carriers, and therefore no single carrier-supplied reporting program will ever be enough for a true multi-carrier brokerage firm. The core expertise of these firms is to sell insurance and investments through advisor acquisition, advisor retention and the efficient processing of new business. They just want their administration system to working flawlessly behind the scenes, not to hassle them, nor to give them surprise costs. We have taken an industry coalition approach and as such, VirtGate is now the de facto standard outside the mutual fund industry. The end result? Sales increase and the cost of doing business reduces for all.�

About CoVirt:

CoVirt designed and supplies VirtGate, a total integrated solution for advisor and policy management to a rapidly growing list of MGA�s. VirtGate provides superior advantages that turn the agency web site into a sales and service pipeline, allowing VirtGate MGA�s to focus on the fundamental core expertise that drives their success. VirtGate is much faster than typical internal LAN-based software and MGA�s can tie as many offices, trading partners and users together as they wish � all with no additional user fees. VirtGate includes integrated online document management where any type of document may be posted to the advisor record, policy record, or to the public library within seconds. VirtGate is fantastically cost-effective, yet worry free. All that is needed is a standard web browser and access to the Internet — nothing is installed on the user’s machine nor does the MGA have to maintain a server. VirtGate increases efficiency immediately and allows MGA�s organizations to better serve their advisors and customers. For more information, to