ELIOS Completes Its Fifth Year

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The Leader in Loss Payee Notifications for the Auto and Mortgage Insurance Industries Takes a Brief Look Back

ELIOS, the leading loss payee notification company for auto and home mortgage insurance industries, completed its fifth year in operation on September 15, 2004. The firm has pioneered the use of technologies that harness the power of the Internet and relational databases to send legally required documents from insurance companies to financial institutions. These notifications document changes in people’s auto and home loan insurance policies.

By outsourcing this function to ELIOS, the firm’s customers have saved as much as 85 percent over what they were paying to perform this function in-house. In some cases, this has amounted to more than $ 1.5 million annually. In addition, ELIOS’s customers have reduced mailing errors and improved the documentation and storage of the notifications for their legal records.

In its first five years, ELIOS has:

• Grown from a start-up company of two people to a mature firm with 19 employees

• Developed a customer base of 45-plus clients that include the National Flood Service, Bristol West, New York Central Mutual, and General Motors Auto Corporation

• Moved from a startup incubator to a suite of offices in the Bishop Ranch Park of San Ramon, Calif., with neighbors that include Chevron, Texaco and Toyota

ELIOS’s success required hard work and persistence that dates back to the mid-1990s. At that time, Jordi Huguet, the president and CEO of ELIOS, first interviewed executives and personnel at both insurance companies and financial institutions to assess the requirements and feasibility for loss payee notification outsourcing.

After determining that there was a strong potential market, ELIOS formally incorporated in 1999. In the past five years of rapid growth, ELIOS has been a pioneer in the field of loss payee notifications and is now the largest company in the industry niche that sends and receives notifications through the Internet.

One result of ELIOS’s success is that in its entire history, the firm has not lost a single customer. What exactly is the ELIOS difference that makes its customers so loyal?

• ELIOS is committed 100 percent to the timely delivery of loss payee notifications, and it has an accuracy rate of 99.99 percent.

• ELIOS provides its customers with official proof of mailing instantaneously from the USPS, which satisfies all legal requirements if a question arises about the delivery of a notification. ELIOS works closely with all 50 (plus Washington, DC) Departments of Insurance regarding each state’s notification laws.

• ELIOS created a software program called PowerSearch, which allows its customers to immediately search the status and retrieve proof of mailing for all notifications sent by ELIOS. This solution gives customers the tools they need to store and retrieve proof of mailing quickly and with ease.

• ELIOS’s in-house staff consists of programmers, technicians, sales people, and a team of conflict resolution specialists dedicated to making sure notifications are sent to the correct loss payee addresses in a timely and efficient manner. These staff functions are kept in-house to ensure that ELIOS has the very best quality control in the loss payee notification industry.

To learn more about ELIOS, please feel free to contact Geoff Geiger at 510-523-7874. Geoff can arrange interviews for reporters with both the CEO and with select customers who will discuss what ELIOS has done for them.

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Geoff Geiger
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