Mitratech Notes Formation of New Division

October 4, 2004

California-based Mitratech Inc., a provider of legal, claims, and risk management solutions, announced the creation of an Insurance Division.

The new division will be responsible for delivering new insurance-specific products and services to clients in the insurance market. Mitratech’s current litigation management solutions will be supplemented with several unique claims products designed to assist carriers in achieving significant reductions in administrative cost, claims settlement expense and claim payments.

“With insurance IT and solutions spending in North America predicted to reach U.S.$22 to $25 billion in 2005 reflecting the pent up demand of the recent past, we view the insurance industry as a strategic growth opportunity for Mitratech solutions and services,” said Afshin Behnia, president and CEO of Mitratech. “We are assembling a team of highly experienced industry executives, to strengthen our existing commitment to provide best-of-breed claims and litigation solutions that will improve the competitive position of our clients in the marketplace.”

Leading the Insurance Division at Mitratech is Doug Chisholm, who joins Mitratech with more than 30 years of sales, marketing, IT and line management business operations experience in the insurance and software industries.

“The insurance industry continues to struggle with claim expense costs and with control of administrative expense. There is tremendous opportunity to deliver value by helping our clients reduce cost,” said Chisholm, “and we are confident that the TeamConnect technology platform will deliver on its promise to reduce system lifecycle cost while reducing claims administrative expenses.”

TeamConnect Enterprise is a web-based knowledge management and process automation platform, which enables organizations to manage complex business processes involving numerous resources, transactions, documents, events and business workflows.

For insurance carriers with significant demands for processing capacity, speed, and reliability, TeamConnect Enterprise provides a combination of application flexibility and processing strength.

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