NEW YORK, April 10, 2001 — clickNsettle.com, Inc. (NASDAQ: CLIK) — a leading global provider of web-enabled and in-person dispute resolution services — and Insurance Services Office, Inc. (ISO) announced today that ISO will offer clickNsettle.com's dispute resolution services to its U.S. customers.
"ISO is the perfect ally to establish clickNsettle.com as the standard for dispute resolution in the insurance industry, our largest target market worldwide. ISO's reputation combined with our technology and resources provides a unique platform for us to reach an unprecedented number of businesses to expand our client base," said clickNsettle.com President and Chief Executive Officer Roy Israel.
Under the agreement, ISO will market clickNsettle.com's Platinum Membership service to ISO's U.S. customers. The membership package provides clients access to both online and offline arbitration and mediation services; comprehensive case-management tools; and access to clickNsettle.com account professionals, including consultants to help implement and maintain a program to resolve lawsuits. Platinum Membership services are designed to reduce the time, expense, and loss of resources that businesses and individuals experience in today's extremely litigious environment.
"We're pleased to offer our customers clickNsettle.com's services," said John H. McCue, ISO's senior vice president and chief marketing officer. "Our new alliance helps ISO leverage its role as the property/casualty industry's leading information source to help insurers put a lid on their large and growing indemnity and legal costs.
"Legal defense costs now account for 15 percent of insured losses. Lowering those costs will give individual insurers a competitive edge and reduce the pressure for higher insurance premiums for consumers and businesses," said McCue.
Headquartered in Great Neck, New York, clickNsettle.com, Inc. is a full-service, international dispute resolution services provider that enables users to resolve disputes anywhere in the world more quickly and efficiently than ever before possible. clickNsettle.com features a comprehensive suite of dispute resolution tools — from a unique online settlement program to in-person arbitrations and mediations with over 1,300 highly qualified hearing officers in the United States and abroad — offering effective applications for the resolution of both e-commerce disputes and traditional litigation. All of these services can be accessed electronically, on a global basis, 24 hours a day, at www.clicknsettle.com.
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting and claims information and analyses; consulting and technical services; policy language; and information about specific locations. In the United States and around the world, ISO serves insurers and reinsurers, as well as agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies. For more information, visit www.verisk.com/iso.
Cautions About Forward-Looking Statements
The statements contained in the release contain forward-looking statements relating to such matters as anticipated financial performance, business prospects, and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, clickNsettle.com, Inc. notes that a variety of factors could cause the company's actual results to differ materially from the anticipated results or other expenditures expressed in the company's forward-looking statements. These factors include changes in the insurance and legal industries, the company's inability to retain current or new hearing officers, changes in the public court system, and the degree and timing of the market's acceptance of its clickNsettle.com website and in-person and video-conferenced arbitration and mediation programs.
Matthew Traub (clickNsettle.com)