SAN DIEGO –February 2, 2012 - Mitek Systems, Inc. (NASDAQ: MITK; www.miteksystems.com), the leader in mobile imaging solutions, today announced a suite of solutions that enables property and casualty insurers to deliver easy and convenient mobile services across the sales, service and support functions. The solutions use the camera on a mobile device (smartphones & tablets) to take photos of documents to eliminate data entry on small keypads and automate tasks creating superior mobile user experience.
Progressive® Insurance is first to market with Mitek’s Mobile Photo Quoting™ which utilizes cameras on smartphones to automate the shopping and buying process for auto insurance. Using the Progressive mobile application available for download in the Apple App Store, the consumer simply enters their zip code and takes a picture of their driver’s license, Vehicle Identification Number or existing insurance ID card. Mitek’s patented mobile imaging technology automatically extracts relevant information from the documents and auto-populates the fields in Progressive’s mobile quoting app. The user then confirms the information and hits submit. Moments later, they receive an auto insurance quote with the option to buy.
“We are constantly looking for new ways to save consumers time and money,” said Matt Lehman, mobile business leader at Progressive. “With Image Capture, Progressive simplifies the process of getting an auto insurance quote anywhere, anytime.”
All of Mitek Systems Insurance Solutions use its patented mobile imaging technology to create mobile services carriers can use to drive both customer acquisition and operational efficiencies. The solutions in the suite are:
- Mobile Photo Quoting™ - automates the insurance shopping and buying process by taking photos of drivers license, Insurance ID Card and VIN
- Mobile Photo Payment™ – simplifies enrollment in electronic payment through checking accounts or direct deposit for a claim reimbursement transfer taking photo of a blank check
- Mobile Photo Claims™ - streamlines the claims process by enabling customers and agents to simply snap photos customer’s drivers license, insurance card and license plate
- Mobile Photo Document Capture & Send™ - enables policyholders and agents to take a photo of any document and send it as a high quality PDF to any email address or fax number
“Mitek’s software turns the camera into a mobile scanning device, eliminating hundreds of keystrokes,” said Mitek Systems President and CEO James B. DeBello. “Our new insurance solutions will automate tasks, solving points of pain for both consumers and carriers.”
About Mitek Systems Headquartered in San Diego, CA., Mitek Systems (NASDAQ: MITK) is a mobile imaging software solutions provider that allows users to remotely deposit checks, pay their bills, get insurance quotes, and transfer credit card balances by snapping a picture with their smartphone or tablet cameras instead of using the device keyboard. Mitek’s technology increases convenience for the consumer by eliminating the need to have to go to the bank branch or automated teller machine, and dramatically reduces processing and customer acquisition costs while increasing customer retention. With a strong patent portfolio, Mitek is positioned as the leading innovator in mobile imaging software and currently provides its solutions to Fortune 500 financial services companies. For more information about Mitek Systems, please visit www.miteksystems.com.
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks related to technological changes, new product introductions, continued acceptance of Mitek Systems products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Mitek Systems’ filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.
© 2012 Mitek Systems. All rights reserved. The Mitek Systems name and logo and Mobile Deposit® are registered trademarks of Mitek Systems, Inc. Mobile Photo Bill Pay™, Mobile Balance Transfer™, Mobile Photo Quoting™, Mobile Photo Payments™, Mobile Photo Claims™, Mobile Photo Capture and Send™ and Mobile Imaging Platform™ are trademarks of Mitek Systems, Inc. Other product or service names mentioned herein are the trademarks of their respective owners.