FASTRAC SYSTEMS, INC. JOINS FIRST AMERICAN'S CONSUMER INFORMATION AND SERVICES DIVISION
November 22, 1999, POWAY, Calif.
Fastrac Systems was a subsidiary of National Information Group which was acquired by The First American Financial Corporation in May of this year. The Phoenix-based company will now conduct business as First American Fastrac Systems, Inc.
First American Fastrac Systems is the nation's leading automotive vehicle insurance tracking and data management company. The company's information management technology provides complete automotive leasing information including customer and vehicle information, current insurance status, insurance history and customer service and correspondence histories. This information is available online, real-time 24 hours a day, seven days a week.
"Joining First American's progressive business philosophy with our unmatched insurance tracking technology and decades of automotive business experience is the perfect combination to create continuing innovative solutions for our clients," said David L. Ames, executive vice president of First American Fastrac Systems, Inc. "Leveraging First American's extensive financial and professional resources to our client-first philosophy is a win-win combination."
First American Fastrac Systems provides extensive outsourcing vehicle leasing services. By acting on its clients' behalf, the company provides insurance tracking, customer service and reporting functions. In addition, the company's programmed follow-up provides detailed and summarized insurance reports for a given portfolio.
"The addition of First American Fastrac Systems to our Consumer Information and Services Division combines the financial strength of First American with the primary supplier of automotive leasing information for leasing companies and lending institutions coast-to-coast," said Mary Siegrist, executive vice president of First American Consumer Information and Services Division.
"Under the continued leadership of David L. Ames, who has more than 30 years of experience in the insurance and automotive industry; and Rigmor E. Schneider, senior vice president and general manager, whose 17-plus years in the industry include management positions with Volvo Finance North American, Inc., First American Fastrac Systems, Inc. is in a prime position to build upon its current leadership position," Siegrist added.
The First American Financial Corporation, based in Santa Ana, Calif., is the nation's leading provider of business information and related products and services. The corporation's three primary business segments include: title insurance; real estate information and services, which includes mortgage origination, mortgage servicing and database products and services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and automotive insurance tracking services; resident screening; pre-employment screening; lender-placed flood and hazard insurance; investment advisory; and trust and banking services. Through its family of companies, First American Financial has nearly 20,000 employees in more than 600 branch offices in the United States and abroad. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.