Novinsoft Portal now included with CoVirt’s VirtGate Client Management System

Advisors of more than 50 MGAs expected to become frequent users

TORONTO, March 31, 2006 – CoVirt Inc. (Canada) announced today a deal was signed with Novinsoft Inc. where CoVirt will offer, for free to its brokerage and MGA customers, the ability for advisors to link from the client screen in the VirtGate Site to the Novinsoft Portal. The Novinsoft Portal service offered through VirtGate includes all the general offerings such as:

  1. Online Carrier Illustration Systems

  2. Legacy Advantage Sales Concept

  3. Leveraged Retirement Sales Concept

  4. Personal Needs Analysis and Calculators

  5. Business Needs Analysis

  6. Carrier Forms & Marketing Materials

  7. Download the latest desktop version of Carrier Illustration Systems

  8. Links

  9. Retrieve Past Saved Cases

  10. Improvements in any of the above or the Novinsoft Portal in general.

  11. New offerings of Novinsoft including in-force illustrations, new sales concepts, and Quick Quotes for other products types as added.

The services included with VirtGate will exclude any customization of any screens, reports, concepts, needs analysis, etc. and activity/management reports from the Novinsoft database.

Tim Fitzpatrick, President of CoVirt said “We are delivering a solution to one of the top 3 problems faced by advisors today. Carrier illustration software has long been a source of frustration for advisors – difficulties with installation are legendary and advisors need to repeat the slow process of keying in client information for each and every carrier they want to present. By sending the client data directly to the Novinsoft web based illustration portal, we eliminate both the hassles of locally installed software and the wasteful keying of data, and provide a single interface for actual carrier endorsed illustrations.

Neil Menear, President of Novinsoft said “Our core business is as an outsource provider that builds and maintains new business and in-force sales illustration and related software. We hope that advisors of CoVirt’s more than 50 MGAs expected to become frequent users provide tremendous exposure to a new way of doing things. Those carriers in early will be deemed ‘easier to do business with’ which should lead to increased sales compared to just a proprietary approach. We hope all carriers active in the brokerage market will join us in integrating systems and services.”

Fitzpatrick concluded “If tools are provided so that the advisor can sell more, then everyone wins!”

About Novinsoft:

Novinsoft has been developing software solutions for the Financial Services industry since 1993 providing services to over 20 major financial services companies, including systems being used internationally. Novinsoft specializes in working with clients to custom design and develop systems to clients’ specific and unique requirements. Novinsoft also has the actuarial expertise to provide its clients with advice on sophisticated Universal Life and Annuity product features, calculations, and sales concepts.

About CoVirt:

CoVirt supplies VirtGate, a totally integrated solution for advisor and client management, to a rapidly growing list of brokerages freeing them to focus on the fundamental core expertise that drives their success. Introduced in 2001, VirtGate was Canada’s first online agency management system. It is our only service. VirtGate is chosen most often by MGAs for its combination of system features, support, scalability, flexibility and price. VirtGate is now by far Canada’s leader with more than 5 times the number of MGA clients compared to any other peer system. The result is hundreds of client-years of up-time experience servicing MGAs. For more information, to