LAKE SUCCESS, N.Y., Sep 3, 2008 (GlobeNewswire via COMTEX News Network) -- DealerTrack Aftermarket Services, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq:TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announced that Allstate Credit Division has joined the DealerTrack Aftermarket Network(tm), an industry-leading solution for real-time aftermarket contract rating, quote generation and digital contracting. Allstate Credit Division is the leading provider of guaranteed auto protection (GAP) products in the U.S. automotive retail market.
"We are very excited about this breakthrough agreement with Allstate Credit Division," said Mark O'Neil, chairman and chief executive officer of DealerTrack. "Allstate Credit Division's GAP products are offered by approximately 8,500 franchised new car dealers in the U.S., including privately branded programs. We believe their decision to join our Aftermarket Network will help to drive adoption and usage of the aftermarket network platform by both dealers and other aftermarket providers."
Several recently introduced Allstate Credit Division aftermarket products, including Vehicle Service Contracts and Paintless Dent Repair, will be available on the DealerTrack Aftermarket Network. In addition, as part of the agreement, Allstate Credit Division will use DealerTrack's SCS Express solution, a Web-based platform that helps automotive aftermarket providers to manage their back-office processes. SCS Express integrates and automates the entire administrative process, from product configuration to distribution and selling (through the Aftermarket Network), to contract and claims management.
"The DealerTrack Aftermarket Network and DealerTrack's SCS Express platform will enable both Allstate Credit Division and our dealer customers to streamline our work flows and realize significant efficiencies," said Tony Wanderon, president, Allstate Credit Division. "By offering real-time data and pricing, as well as digital contracting through the DealerTrack platform, we will reduce administrative costs and minimize delays and contract errors, thus enhancing consumer satisfaction with the overall car buying experience."
Allstate Credit Division is one of 37 providers that have joined the DealerTrack Aftermarket Network, which provides dealers free access to real-time information on aftermarket products and services. DealerTrack's online rating and digital contract functionality creates a more efficient F&I process. Dealers subscribing to DealerTrack's eMenu, which is fully integrated with the Aftermarket Network, can realize even greater efficiencies by presenting aftermarket product options seamlessly to their customers with improved accuracy and speed.
About Allstate Credit Division
Allstate Credit Division is a leading provider of Finance and Insurance products and services marketed through independent agents to auto dealers, lenders, credit unions, and manufacturers. Products provided by Allstate Credit Division include Vehicle Service Contracts, Guaranteed Auto Protection, Credit Life and Disability Insurance, Allstate Roadservice Elite and Paintless Dent Repair. The company also provides training for F&I Managers that includes Beginner, Advanced and AFIP Certification.
Allstate Credit Division is a marketing name for First Colonial Insurance Company, the credit division of American Heritage Life Insurance Company, and ERJ Insurance Group, Inc., doing business as American Heritage Insurance Services, which are all wholly owned subsidiaries of The Allstate Corporation.
About DealerTrack (www.dealertrack.com)
DealerTrack Holdings, Inc. (Nasdaq:TRAK) is a leading provider of on-demand software and data solutions for the U.S. automotive and related industries. The company's solutions enable dealers to receive consumer leads, submit credit applications and receive responses, compare financing and leasing options, sell insurance, accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the DealerTrack Arkona DMS (dealer management system) is used by dealerships nationwide. Over 22,000 dealers, including more than 90% of all franchised dealers; over 700 financing sources; and other service and information providers are active in the DealerTrack network.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the potential adoption and usage of the aftermarket network platform by dealers, Allstate and other aftermarket providers, as well as all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include: our ability to expand our product and service offerings; the accuracy and completeness of the real-time pricing information; and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2007. These filings can be found on DealerTrack's website at www.dealertrack.com and the SEC's website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and DealerTrack disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.
