Tio to offer insurance products at c-stores

Tio to offer insurance products at c-stores
Tags: Bank / Credit Union, Kiosks/Self-Service, Multifunction ATMs, Other, Retail / Off-Premises, Software, TIO Networks Corp., Transaction Processing, Underbanked / Unbanked
July 5, 2006

BURNABY, British Columbia - Tio Networks Corp., formerly Info Touch Technologies Corp., soon expects to offer accidental death insurance to ExxonMobil customers and other Tio convenience retail networks. According to a news release, the insurance, known as Key A-D, is underwritten by Stonebridge Casualty Insurance Co. and will sell for $12 a year.

"We strive to offer products to the cash preferred demographic and this product has been developed specifically for Tio's customer base," said Hamed Shahbazi, Tio Networks' chairman and chief executive.

The insurance is set to launch in Texas and Tennessee, with a strategic, long-term plan for a nationwide rollout.