20 October 2017
Find out more

ChoicePoint sells Priority Data Systems to AMS

02 October 2006  |  1864 views  |  0 Source: ChoicePoint

ChoicePoint (NYSE:CPS) today announced its signing of a strategic alliance agreement with AMS Services that will extend ChoicePoint's capabilities for data sales to thousands of additional insurance agents and industry professionals nationwide. The agreement was signed simultaneously with the sale of ChoicePoint's Priority Data Systems business to AMS Services.

AMS Services is a leading provider of connectivity services to insurance agents, carriers, managing general agents and wholesale brokers. Based near Seattle, AMS Services also provides comprehensive, insurance-specific solutions for managing critical business activities, including agency management, rating, benefits, performance management and carrier/agent connectivity.

Based in Omaha, Priority Data Systems provides comparative rating software solutions primarily to the independent insurance agency market.

"ChoicePoint is pleased to align with AMS Services in a relationship which we believe will enhance and extend our core business and services," said Jeffrey Glazer, president of ChoicePoint's Insurance Services group. "This new alliance supports ChoicePoint's position as the personal lines industry's premier provider of the most complete and integrated array of insurance products and services to companies and agents."

Terms of the agreements were not disclosed. The divestiture is not expected to have a material impact on ChoicePoint's continuing operating results.

ChoicePoint will record an after-tax loss of approximately $3-4 million in the divestiture, but the company believes the strategic alliance with AMS Services will provide significant long-term benefits. Under the agreement, ChoicePoint will immediately gain access to AMS Services' platform for data sales to their 15,000 independent insurance agencies and 150,000 end-users.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
16066 views comments | 12 tweets | 4 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8282 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
7847 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7278 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6626 views comments | 10 tweets | 21 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job