FIRST AMERICAN ACQUIRES INTEREST IN LEADING LOYALTY MARKETER
August 23, 2000, SANTA ANA, Calif.
Through this joint venture, First American’s clients gain the ability to create customized, flexible consumer loyalty programs, by combining First American’s products with new services offered by CBS. This agreement extends First American’s reach to become a true partner with its clients by offering unique solutions for customer retention, and greatly expands the ability for CBS to penetrate a new market for its products and services.
“Our goal is to establish First American as a strong consumer brand for all services related to the real estate process such as title insurance, escrow services, credit reporting, home warranty and appraisals,” said Mary Siegrist, executive vice president of First American’s Consumer Information and Services Group. “This new relationship with CBS allows First American, by working cooperatively with our business partners, to bring new, value-added services to the consumer.”
In addition to the products and services offered by First American, CBS offers such value-added and retail club membership services as travel, shopping, medical, home, insurance, performance and incentive programs.
Consumer Benefit Services’ state-of-the-art systems and infrastructure encompass more than 3,000 vendor partnerships supported by round-the-clock customer service, Internet connectivity and technical scalability to support customized, electronic business-to-business and business-to-consumer e-commerce programs. By leveraging CBS’s proven infrastructure, First American is able to begin offering these services immediately.
“We are excited to partner with First American to further its goals,” said Mike Martorano, president of Consumer Benefits Services. “First American’s long-standing position as an industry leader gives us the credibility to market our valuable services to the real estate and financial institution industry. We have serviced this industry for years as a wholesaler through third-party marketers, now with our partnership with First American we have the ability to market our products on a direct basis.”
Consumer Benefit Services, headquartered in Naperville, Ill., was founded in 1988 to provide innovative and profitable products and services to a diverse mix of clients for affinity marketing, enhancement and direct marketing. CBS markets value-added credit card enhancements, retail membership programs, and incentive, award and loyalty programs such as it’s DreamMiles® credit card loyalty program.
The First American 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 and services; real estate information and services, which includes mortgage information services and database information services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and casualty insurance; property and automotive insurance tracking services; resident screening; pre-employment screening; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.