TurboCoverage, which bills itself asd the first Web-based auto insurance service for auto dealerships, continues to expand its management team, naming insurance executive Juergen Rinnert to the new position of vice president of insurance operations and Laurie Holcomb as vice president of sales and marketing.
At the same time, the company also appointed Silicon Valley venture capitalist Eric McAfee to the board of directors. McAfee is a principal in Berg McAfee Companies, a member of President George Bush's Information Technology National Advisory Board, and is an active Silicon Valley venture capitalist with holdings in more than 25 technology companies.
"Eric McAfee, Juergen Rinnert and Laurie Holcomb are first-rate professionals who will enable TurboCoverage to continue the accelerated rollout of the nation's first Web-based auto insurance service for auto dealers," said TurboCoverage CEO Phil Barry. "With this kind of management talent and board support, TurboCoverage is building a world-class organization that can deliver auto insurance to the more than 7 million car buyers annually who need coverage when they are purchasing a vehicle in a dealership."
"TurboCoverage has a well-focused business model that provides a unique solution to a large market need to quickly provide insurance at the time of vehicle purchase," McAfee said. "By continuing to strengthen the management team, TurboCoverage is assembling the expertise to scale this business nationally. I look forward to working together with TurboCoverage to extend its first-mover position and to pursue this very significant market opportunity."
McAfee has a long track record of starting and developing companies. He is co-founder and chairman of CI Systems (satellite broadband systems), and co-founder and co-chairman of MindArrow Systems. In 1998, he co-founded NetStream (digital switch-based phone services financed by Cisco and UBS), and in 1996 co-founded Global Digital Technologies (leading software company for newspapers, with more than 200 customers). In 1992, McAfee co-founded PC-card manufacturer New Media Corporation, which grew to $48 million in revenues within three years. He currently serves on the boards of CISystems, Mvion, CustomerLink Systems, Verdisys, Global Digital, Quikview, Intraop Medical, and DAC Intl. McAfee has also served for eight years on the board of directors of the California Manufacturers and Technology Association.
McAfee is the third director to recently join the TurboCoverage board. In May, CEO Phil Barry and automobile executive Ron Goldsberry were both appointed to the board. Goldsberry is chairman of the board of OnStation and is a member of the board of Stanford University Business School, UNUM Corporation, and Case Corporation. Goldsberry worked for Ford Motor Company for 13 years and has been inducted into the prestigious Automotive Hall of Fame.
New Members of the Management Team
Juergen Rinnert has more than 35 years of executive management and insurance experience and has served as president of GEICO's International Insurance Underwriters unit, President of Classified Insurance Corp. of Wisconsin, as well as two non-insurance companies. Most recently, Rinnert developed new direct sales channels for 21st Century Insurance, the sixth-largest auto insurer in California.
Prior to that, Rinnert had a 13-year career with California Casualty Management Co., where he held a series of positions of increasing responsibilities, including head of Personal Lines Underwriting. At GEICO, Rinnert held three international roles concurrently, with responsibility for 40,000 customers and 24 offices in Germany, England, Belgium and the United States. Rinnert has a bachelor's of science degree in Business and Industrial Management from San Jose State University and is a C.P.C.U.
Laurie Holcomb has extensive experience in running and managing companies and in working with auto dealerships in senior-level business development roles. Holcomb's auto dealership experience includes advertising and sponsorship sales for such clients as the AutoNation group, the New Car Dealers Association of Dallas, and large regional dealerships in Texas.
Before joining TurboCoverage, Holcomb was CEO and director of business development for AnywhereYouGo.com, a wireless application and development company. Holcomb was instrumental in the sale of the firm to Hewlett-Packard and was responsible for key parts of the company's sales and marketing programs. Before that, she was vice president of business development for Matchmaker.com, the Internet's leading dating/relationship portal on the web.
Earlier in her career, she worked in sales positions of increasing responsibility for Next Generation Network, Susquehanna Radio, and Prime Sports Radio (now a division of Fox Sports.) At Next Generation Network, Holcomb was the company's leading sales person for two of three years. Holcomb earned a bachelor's of science degree in journalism and mass communications from Iowa State University.
About TurboCoverage
TurboCoverage bills itself as the nation's first Web-based auto insurance service for dealerships that enables car-buyers to instantly purchase coverage at the time of the vehicle sale.
TurboCoverage says it shortens the insurance transaction to about 10 minutes, increases customer satisfaction, and eliminates reliance on binder faxing systems and off-site agents serving multiple dealerships. TurboCoverage workstations are installed in numerous locations and offer a choice of coverage from leading insurers.
TurboCoverage is based in San Jose, Calif., and its investors include executives from the auto dealership and insurance industries.
For more information about TurboCoverage, call 1-888-263-3637 or visit www.turbocoverage.com.
