Wise Riddell Financial Group Selects CoVirts VirtGate Internet Policy and Advisor and Management Service

CoVirt Inc. (Canada) and Wise Riddell Financial Group have just announced that CoVirt now supplies Wise Riddell with its multi-channel policy management and advisor service called VirtGate.

Toronto -- 25th October 2002. CoVirt Inc. (Canada) and Wise Riddell Financial Group have just announced that CoVirt now supplies Wise Riddell with its multi-channel policy management and advisor service called VirtGate. Already live to Wise Riddell staff, on November 6 & 7 VirtGate will be launched to Wise Riddell at branch meetings.

With VirtGate, Wise Riddell is transforming its processes into a highly efficient, "advisor-is-customer" focused workflow service providing online access to processing and reporting of applications, policies, commissions, contracts, and advisor compliance information. David Stewart, Director, Insurance and Financial Services at Wise Riddell says At Wise Riddell Financial Group we pride ourselves on providing our advisors with the tools necessary to grow and manage their practices. The new power of web-based support is a step in fulfilling that commitment. Our new VirtGate web based back office will allow our advisors to track their new business, review existing clients, commissions, find addresses and phone numbers for their clients, and much, much more as our advisors will have access to all the files we have accumulated on their behalf over the years. This is just the beginning - whether they need a quick quote or an application form, with our virtual office, these are now just a mouse click away."

VirtGate seamlessly connects Wise Riddells offices in Barrie and Oakville. David Bumstead, Managing Partner located in Barrie says, "VirtGate is a tremendous boon for the advisors of our branch. The real-time access to information helps with service issues. For myself in management, before I had to ask Oakville for special reports or wait for the weekly production report by e-mail - now I have real time access to production reports." David Stewart concurs, "Our Barrie branch is very important to us and, after years of separation, we can finally remove geography as an impediment to doing business. CoVirt has been able to deliver on that promise."

VirtGate management reporting is a key for David Stewart as well Upon speaking with existing VirtGate customers I was impressed with the depth and quality of the reporting engine. Management reports are very important to me -- how can you run a successful business without them? To realize maximum value from the reporting process, you need to be able to take a look at your business from a variety of angles and quickly drill right down into the data in order to understand what is going on. Critical information that used to take me hours to collect and analyze is now available in seconds -- anytime, anywhere -- even at home."

Tim Fitzpatrick, president of CoVirt explained "The Wise Riddell sale is a milestone endorsement for CoVirt and VirtGate and shows how the attitudes of MGAs are changing -- they are no longer willing to wait for vendors and in-house technicians to deliver long-promised functionality. Our clients enthusiasm has been a major factor in VirtGate's momentum and success."

The key distinction compared to administrative platforms offered by software vendors is that CoVirt does not simply bolt-on a web-enabler to an existing conventional desktop system. There is no software to install at all. Instead, even for Wise Riddell staff, VirtGate's breakthrough technology is an entirely browser based unified solution that has the look and feel of desktop software. The VirtGate solution automates all relationship, contact and workflow management within the Wise Riddell Financial advisor environment. When the advisors login and access the Wise Riddell files, no server or Internet connection resources are consumed at Wise Riddell. . Appropriate levels of access are accorded all parties to the insurance transaction from the client, to the advisor, to the MGA, through to the underwriting carrier. Michele Munroe, Manager, Brokerage Administration says, VirtGate is amazing! It is 10 times faster than our old system".

Julian Wise, Partner, at Wise Riddell Financial says: "I am not a computer person, but I am amazed how much Tim and his team know about life insurance, and to me this was a major factor in selection of the VirtGate. Compared to having to explain needs to a computer technician, the progression was just so much easier and efficient, and I am feel very confident about the future momentum of VirtGate."

About CoVirt:

CoVirt Inc. (Canada) takes pride in providing Internet services to the insurance industry in both the United States and Canada, specializing in the research, development and deployment of dynamically tailored, web-based insurance and other transactional services. Life insurance distribution is about efficient advisor recruitment and retention and CoVirt believes that any service system can and should be replaced by browser-based Internet services, providing superior service and reducing internal resource requirements. Work is directed two executives with 45 years combined of broad insurance industry experience. For more information, see http://CoVirt.com or please contact:

Tim Fitzpatrick
President
CoVirt Inc. (Canada)
Suite 1119
1750 The Queensway
Toronto, Ontario, M9C 5H5
Phone 416-587-3901
Fax 416-352-5664
E Mail: timfitz@covirt.com

About Wise Riddell Financial:

Wise Riddell Financial Group is a tight-knit team of industry leading professionals that devotes knowledge, skills, integrity, and vision to create, manage, enhance and preserve wealth for clients. Advisors may be familiar with some of the estate planning, executive benefit, investment, insurance and trust options that stock the Wise Riddell toolbox. Many other planning possibilities might well surprise and intrigue you. For more information, see http://WiseRiddell.com/ or please contact:

David Stewart
Director, Insurance and Financial Services
Wise Riddell Financial Group
Suite 101
2904 South Sheridan Way
Oakville, Ontario, L6J 7L7
Phone   (905) 829-0660
Fax   (905) 829-0074
E Mail:   dstewart@wiseriddell.com