NEWS RELEASE
August 15, 2001
For Immediate Distribution
Central Mutual Insurance signs agreement with Global eTelecom, Inc. for Electronic Check Conversion Processing
Destin, Florida Global eTelecom, the national leader in Electronic Check Conversion (ECC) today announced that Central Mutual Insurance Company has chosen the company to provide it’s electronic check processing services. Central Mutual will utilize Global Telecom’s new proprietary, customizable, XML based electronic check processing technology.
Central Mutual, rated A+ Superior by A.M. Best, is the parent company of the Central Insurance Companies. Central Mutual is 125 years old and one of the nation’s oldest, most well respected insurance companies. Central Mutual was incorporated in 1876 and currently serves customers in 15 states. Members of the Central Insurance Group includes All America Insurance Company and CMI Lloyds.
“We are very excited about being able to offer additional payment options from Global eTelecom for our insureds to make their premium payments to Central Mutual. Electronic checks have proven themselves to be very popular as a method of paying premiums due to their convenience,” states Karl Waite, Vice President & Treasurer of Central Mutual Insurance Company. Adds Waite, “ Mail delays in making payments are always a challenge when dealing with keeping insurance coverage in force. These delays can be eliminated with electronic checks. Our Companies will be able to offer better service for our insureds and have fewer customer service problems in regard to handling payments by implementing electronic checks.”
Central Mutual will utilize a complete custom service package of Global eTelecom’s electronic check payment products, including Point of Purchase (POP), Recurring Debit, Internet, and Telephone based electronic checks and specialized reporting features.
“Our entire team is excited to be able to offer a custom tailored solution for Central Mutual, and also very pleased that they chose our company,” states John H. Beebe, Chairman & Chief Executive Officer of Global eTelecom. “ We were able to put together a complete, cost effective solution that serviced all Central Mutual’s needs, while still allowing them flexibility as they continue to expand and grow as a company. I am very honored to have them as one of our valued customers.”
About Global eTelecom, Inc.:
Global eTelecom owns the first technology for processing checks electronically at the Point of Purchase through the National Automated Clearing House Association (NACHA). Global eTelecom is an active member of NACHA’s Electronic Check Council. Global eTelecom provides it’s proprietary, fully customizable XML based electronic check processing services to a nationwide network of banks, independent sales agents and associations, credit card processors, insurance companies, and retail merchants, ranging in size from small “Mom &Pop” stores to national retail chains. Global eTelecom’s proprietary Electronic Check Services include: Electronic Check Conversion (Point-of-Purchase), Electronic Mail Order / Telephone Order Checks (MOTO), Encrypted Electronic Internet Checks, Lockbox Conversion, Electronic Recurring Debit, Electronic Represented Check Collection (RCK), Wireless Encrypted Infrared Checks, Electronic Check Image Capture , and Secure Web Based Check Image Retrieval. More information on Global eTelecom can be found on the company’s website at www.globaletelecom.com
About Central Mutual Insurance:
Headquartered in Van Wert, Ohio and rated A+ Superior by A.M. Best, Central Mutual is 125 years old and was incorporated in 1876. Members of the Central Group include All America Insurance Company, CMI Lloyds, and Central Insurex, and excess and surplus lines agency formed in 1978. The Central Group writes automobile, homeowners, and commercial lines coverage. Central conducts operations through over 500 independent agents writing business in 15 states. Regional offices are located in the metropolitan areas of Atlanta, Boston, Dallas, and Van Wert, Ohio.
Contacts:
Global eTelecom
John H.Beebe
Chairman & Chief Executive Officer
Phone: (850) 650-8506
Email: john@globaletelecom.com
Central Mutual Insurance Company
Karl Waite
Vice President / Treasurer