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REF NO.: 56

SUBJECT: ClearRisk Inc. graduates from the Genesis Centre
DATE: Nov. 3, 2010

ClearRisk Inc., developer of web-based risk management resources for medium-sized organizations, celebrated today its graduation from Memorial University’s Genesis Centre. ClearRisk’s impressive success to date was recognized at a ceremony on the St. John’s campus, attended by many representatives of the local business, government and university communities.
The Genesis Centre is Memorial’s business support network for technology-based ventures that have high growth potential, and are seeking business guidance and capital.
ClearRisk graduates from the centre after receiving significant private investment from several local angel investors. ClearRisk has also partnered with Sitkins International, a private client group for some of the top independent insurance agencies and brokerages in the United States, Canada and Latin America. Sitkins International is comprised of more than 125 members representing about $4 billion in premiums. ClearRisk will help Sitkins clients deliver their Risk Reduction Approach™ to their members and their members’ clients. 
ClearRisk was conceptualized and is led by Craig Rowe who has been in the risk and insurance industry since 1989. In 2006 Mr. Rowe started ClearRisk with Dave d'Entremont who brought the necessary technical background to the company. ClearRisk’s solutions are built for insurance brokers, medium-sized organizations, and professional risk managers who are looking for an easy and affordable way to manage risk. The company has launched French and Spanish versions of one of its products, and has its first Spanish-speaking clients in Peru. ClearRisk has been a client at the Genesis Centre since 2007. The company now employs 11 people.
“We have been very fortunate to have been a client of the Genesis Centre,” said Mr. Rowe. “It has played a very important role in our success to date and I strongly encourage any early-stage technology companies to apply. From strategy to marketing, HR, public and private fundraising and much more, the Genesis Centre can help companies navigate these difficult business issues.”
“By investing in the Genesis Centre, our government is equipping emerging locally-based technology companies like ClearRisk with the strategic business skills and perspective they need to successfully compete and grow in the domestic and global marketplace and in the process contribute to the development of a leading-edge economy in Atlantic Canada,” said Keith Ashfield, minister of National Revenue, minister of the Atlantic Canada Opportunities Agency (ACOA) and minister for the Atlantic Gateway.
“Memorial University is excited to have played such an important role in the early and later development of ClearRisk,” said Dr. Gary Kachanoski, president and vice-chancellor of Memorial University. “This proves once again what our talented and resourceful people can achieve, both nationally and internationally, when coupled with the right support and resources.”  
The Genesis Centre is a division of Genesis Group Inc., the technology commercialization arm of Memorial University. The Genesis Centre is funded in large part by the Atlantic Canada Opportunities Agency, the Provincial Department of Innovation, Trade and Rural Development and Memorial University.
 
Backgrounder
ClearRisk’s web-based solutions are built for insurance brokers, medium-sized organizations, and professional risk managers that are looking for an easy and affordable way to manage risk. The solutions were developed into a suite of three products: ClearRisk Manager, ClearRisk Tracker, and ClearRisk Trainer. ClearRisk Manager is the platform to create risk management plans, risk maps, and to implement and monitor risk management activities and success. ClearRisk Tracker is a claims and risk software to allow for easy management of accidents, incidents and insurance claims. ClearRisk Trainer is an online risk management training program. The company has also launched a French and Spanish version of the ClearRisk Manager and has its first Spanish-speaking clients in Peru.
ClearRisk was conceptualized and is lead by Craig Rowe who has been in the risk and insurance industry since 1989. From his professional experience; his extensive work in industry associations such as the Risk and Insurance Management Society (RIMS); and as a writer and presenter throughout North America on risk management, Craig developed an approach to talking about risk that business people relate to. “There’s nothing mystical about risk management. It involves formalizing best practices that businesses already employ but don’t think of as risk management.” In 2006 Mr. Rowe started ClearRisk with Dave d'Entremont who brought the necessary technical background to the company.
ClearRisk has been a client at the Genesis Centre since 2007. The company now employs 11 people.                                                                      
ClearRisk’s advisory board has included Dr. Tom Cooper, assistant professor – strategic management, Faculty of Business Administration, MUN; Steven Taylor, president/CEO IDBlue; Dr. Angus Bruneau, founder of Fortis Inc.; Paul Johnson, former president/CEO Johnson Insurance; and Darrell Swain, senior executive, Johnson Inc.
  
The Genesis Centre is a support network for technology-based ventures that have high-growth potential, and are seeking business guidance and capital. The Genesis Centre helps selected enterprises gain access to the marketing, finance and management expertise of world-class mentors and advisory board members. It also connects entrepreneurs to the scientific, technical and business expertise resident at Memorial University of Newfoundland (MUN). By helping these entrepreneurs develop comprehensive business plans and implement effective Advisory Boards, the centre prepares promising ventures for private investment.
Twenty-eight companies have graduated from the Genesis Centre since 2000 the Centre is currently working with 10. It has helped its clients raise over $17 million in private equity, most of that coming from outside the province. Graduates include Rutter Technologies, Verafin, and Genoa Design. ClearRisk has been a client of the Genesis Centre since 2007.

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