SAUSALITO, CA--(BUSINESS WIRE)—Apr. 12, 2007--Triton Distribution Systems, Inc. (OTCBB: TTDS), a next generation web-based travel distribution service provider, announced today that it has entered into a partnership with iTravelInsured®, an online travel insurance company that will enable Triton, through ReservationExpert™ and CruiseExpert™, to offer a full travel cancellation / interruption insurance program to qualified home-based agents and agencies around the globe.
Since trip cancellation / interruption claims account for nearly 70 percent of all claims filed under a travel insurance policy, travel professionals have increasingly turned to travel insurance to provide protection for their customer as well as a revenue stream for themselves.
Currently, about 23 percent of travelers buy trip insurance, an increase of 45 percent since September 11, 2001. With this partnership, Triton’s reservation products will provide a full-service package to travel professionals, offering travel protection to hundreds of thousands of travelers that will help safeguard their investments from unforeseen circumstances.
“The opportunity to work with a fine technology partner such as Triton Distribution is exciting,” said Bill Dismore, Executive Vice President of iTravelInsured. “We look forward to this partnership and to delivering state-of-the-art booking tools to the travel agency community.”
“Our commitment at Triton is to support the business success of both travel vendors and travel agents,” said Gregory Lykiardopoulos, Chairman and CEO for Triton. “Our partnership with iTravelInsured delivers another tool to help travel agents differentiate themselves and is part of the reason why ReservationExpert’s adoption rate has been so high.”
iTravelInsured is a wholly-owned subsidiary of International Medical Group®, Inc. (IMG®), a worldwide leader in designing, distributing and administering global healthcare insurance benefits. IMG’s international reputation for excellence has been established by providing medical, life and disability insurance products to individuals, families and groups in more than 150 countries.
About Triton Distribution Systems
Triton Distribution Systems is a pioneer in low-cost, business-to-business, Internet-based travel distribution and procurement solutions. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour and cruise operators, and other travel vendors to travel agencies and their clients on a global basis. Triton's proprietary products and services fill crucial needs in the travel industry, and offer product, pricing, and marketing advantages. Triton has developed a broad-based suite of products, including ReservationExpert™, TritonTwist™ and Red Dragon Express™ -- the world’s first distribution gateway to the Chinese market.
FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
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