Torrent Technologies offers a new options in flood insurance administration.

Twenty months ago we formed Torrent Technologies, Inc. http://www.torrentcorp.com to offer a new option in flood insurance administration to "Write Your Own" companies. Our vision – to combine two decades of industry experience with contemporary technology to provide the most compliance-oriented, easiest-to-use, flood services in the market – is on the verge of reality today. Here’s a brief update on our progress.

Our new product, TorrentFlood®, is in the final stages of development. After three days of recent testing, an agent in Florida characterized TorrentFlood® as “easier” and “extremely user friendly.” With features like real-time editing and contextual help, going from policy initiation to issuance takes just minutes.

Carriers are taking note, too, as several have already selected Torrent to be their partner in growing their flood insurance business. We’re honored by the trust they’ve placed in us and confident in our ability to enhance their businesses. We’ll be ‘live’ this month.

Strengthening our team has been a priority, as well. To that end, we’ve added several experienced professionals. Jeff Roe, former President of Safeco Insurance, joined last month as our Chief Marketing Officer. Yom Senegor, formerly CIO at Safeco and lead partner in Accenture’s P&C practice, is serving on our advisory board. Other skilled claims, technology and finance professionals have joined us recently with more qualified resumes streaming in.

Not everyone is excited about Torrent’s entry into flood administration. Almost from our inception we’ve dealt with the nuisance of a competitor’s lawsuit. We finally settled their meritless charges through an ‘offer of judgment’ that entailed no admission or validation of wrongdoing by Torrent or its employees and a nominal fee of $25,000. An offer of judgment is considered by the Court as a settlement with no acknowledgement of liability. While we were prepared to see this through to trial if required, getting the distraction of litigation behind us and focusing fully on becoming the industry’s leading flood vendor was of far greater importance. For your information, our press release can be located via the attached link.
http://biz.yahoo.com/prnews/061107/sftu141.html?.v=40&printer=1

A lot has happened in almost two years. We’re pleased with our progress, on solid ground operationally and financially, and optimistic about the future.

Thank you for your support of Torrent Technologies. We look forward to sharing more good news in the near term.

Sincerely,

Travis Pine, Chairman/CEO

TJ Johnston, President/COO

email: [email protected]

phone: 206-286-0260

web: http://www.torrentcorp.com