Cybersettle To Launch in U.K.

May 24, 2000

Cybersettle, the leading online claims settlement system is set to launch its service in the U.K., and hopes to repeat the success it has had resolving claims in the U.S.

The U.K. effort will be headed by two old insurance pros with 70 years of experience between them. Anthony Pinsett, a former Director of Aon Group Ltd., was named Chairman, and will be responsible for “building the company’s UK infrastructure and launching the UK version of the Web site within 90 days.”

Tony Bolton, former Marsh Ltd. senior executive, will provide strategic assistance and advise on European expansion as Chairman of Cybersettle’s International Advisory Committee.

“Tony and myself perhaps do not fit the mold of 20-something dot com entrepreneurs,” said Pinsett in the announcement. But he added that they were “very excited about the potential of Cybersettle. It will satisfy the pressing need to resolve monetary disputes quickly, and cost effectively, for all parties.”

Cybersettle currently operates in the U.S. and Canada, but has announced plans to expand globally. It operates a claims settlement system using encrypted technology which is available 24 hours a day, 7 days a week. Its settlement procedures are confidential, and are not revealed to the adverse party, if no settlement is reached.

The company Web site is: http://www.cybersettle.com.

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