[0] VerticalNet and Insurity Solutions to Bring Insurance Online.

Business Editors

HORSHAM, Pa. & ATLANTA--(BUSINESS WIRE)--June 7, 2000

Insurity Solutions To Offer Commercial Insurance Underwriting,

Quoting, and Policy Management Services To VerticalNet Communities

VerticalNet, Inc. (NASDAQ: VERT), the Internet's leading portfolio of business-to-business trading communities, today announced its agreement with Insurity Solutions, Inc., providers of e-commerce commercial insurance software applications, to offer online underwriting, quoting, and insurance management services across VerticalNet's community structure, beginning third quarter 2000.

Under the terms of the agreement, Insurity Solutions has entered into an extended contract to serve as a provider of VerticalNet's insurance rating software, engineered to provide pricing and thus facilitate the sale of insurance products to the VerticalNet audience, while broadening Insurity Solution's own expanding customer base. Insurity Solutions' applications will be an integral component of VerticalNet's plan to offer its audience selection from the following lines of business insurance: Workers' Compensation, Business Owners Policies (BOP), Umbrella, Director and Officers and Fiduciary Liability, Fidelity and Commercial Auto.

"Our relationship with Insurity enables us to facilitate the selecting of insurance coverages to a vast marketplace," said Dwayne Spradlin, vice president of Corporate Development of VerticalNet. "By combining Insurity's software with our industry-specific knowledge we will be able to develop unique products to meet the diverse insurance needs of our audience and introduce our community members to insurers and brokers who specialize in industry-centric programs."

"This deal confirms our strong belief that the design methodology we put into our commercial insurance Internet systems is flexible across a wide range of electronic business models," said Clyde Owen, president of Insurity Solutions. "Our services will allow VerticalNet's audience to transact policy sales across their growing network. The opportunity to ally with VerticalNet enables us to extend our reach across the insurance distribution industry and offer leading edge technology to our customers and business partners."

Insurity Solutions also offers the capabilities of this innovative software platform to Property and Casualty insurance carriers and their intermediaries, such as Managing General Agents (MGA), Managing General Underwriters (MGU), brokers and agents. Other customers include private Internet portals such as those insurance companies that can implement to extend services to their producer communities.

About VerticalNet, Inc.

VerticalNet, Inc. (www.verticalnet.com) owns and operates 56 industry-specific Web sites designed as online business-to-business communities, known as vertical trade communities. These vertical trade communities provide users with comprehensive sources of information, interaction and e-commerce. They are grouped into the following industry sectors: COMMUNICATIONS, ENERGY, ENVIRONMENT/UTILITIES, FINANCIAL SERVICE, FOOD/PACKAGING, FOODSERVICE/HOSPITALITY, HEALTHCARE, HIGH TECH, INDUSTIRAL, MANUFACTURING/DISCRETE, MANUFACTURING/PROCESS, PUBLIC SECTOR, SCIENCE and SERVICES.

Additionally, VerticalNet provides auctions, catalogs, bookstores, career services and other e-commerce capabilities horizontally across its communities with sites like Industry Deals.com, IT CareerHub.com, LabX.com and Professional Store.com. VerticalNet's NECX(R) Exchange provides an exchange for the electronic components industry. Through Tradeum technology and strategic alliances, VerticalNet is focused on providing comprehensive end-to-end e-commerce solutions.

For further information on the VerticalNet insurance company E-Commerce Centers, contact Brian Lawlor, National Sales Manager at 203-762-8079 or [e-mail]. To learn more about this offering, please visit VerticalNet's www.propertyandcasualty.com or www.verticalnet/pandc_ppt/.

About Insurity Solutions

Insurity Solutions (www.insurity.com) has developed a portfolio of Internet solutions that "eCommerce enable" the commercial insurance marketplace - providing business-to-business insurance procurement and 24/7 customer support. Their products allow insurance industry participants to shorten the quoting and binding cycle, reduce the cost of information gathering and dissemination, and improve the overall data flow prevalent in the industry. The result - favorable brand differentiation and superior customer service for the agent, the broker, the MGA, and the insurance company. Their suite of applications includes:

IDNCenter [sm]

As the industry evolves towards rating and quoting functionalities being extended to the user community, technology will continue to support the entire insurance process. The IDNCenter represents a suite of fully automated underwriting, quoting, and submission tools designed exclusively for the property and casualty insurance industry. Easy to use, flexible, and effective, these unique applications significantly enhance distribution opportunities and cost-efficiencies.

CICenter [sm]

The CICenter is an online information interface to a corporate database, for use by internal and external users of the system.

This true Internet product provides customers access to policy and claim data services - such as Loss Runs, First Reports of Injury, Proof of Coverage, and summary account information. Users traditionally consist of agents, Managing General Agents (MGA), Managing General Underwriters (MGU), Third Party Administrators (TPA) and the insureds themselves. Similar to the benefits of automated rating products, these services are becoming an integral part of a company's operation. While there are obvious marketing ramifications, enhanced customer service opportunities, as well as tremendous potential cost savings, are generally the driving forces in compelling purchase of the product.

RDSCenter [sm]

The automated and scalable data processing system, the RDSCenter, was developed to support statistical reporting and data service beginning in 1996. A team of seasoned and informed data professionals maintains and operates the system. Insurity Solutions has worked with a variety of data providers, including Managing General Agents (MGA), Third Party Administrators (TPA) and carriers across the country. The goal is to ensure customers fulfill their scheduled regulatory reporting obligations in the most painless, cost effective and efficient way possible.

Fully integratable with the dynamic CICenter [sm] Internet data service, the RDSCenter can provide, via an Internet browser, a way to monitor statistical reports.

At Insurity Solutions, their team of seasoned data professionals has extensive experience in resolving carriers' regulatory statistical reporting and data flow problems. Our Statistical Reporting and Data Services solution is an indispensable outsourcing service, offering peace of mind and the freedom to focus scarce IT resources on other projects.

Insurity Solutions, Inc., was founded in 1996. Clientele consists of carriers, brokers, MGAs, and select strategic partners. Privately held, Insurity Solutions is a Delaware corporation with offices in Cumming, Georgia, and Richardson, Texas. For information about services and partnering opportunities, contact Michael Mueller at [phone] or check out the Web site at www.insurity.com.

This announcement contains forward-looking statements that involve risks and uncertainties, as well as statements that are preceded by, followed by or include the words "believes," "plans", "intends", "expects", "anticipates", or similar expressions. For such statements, VerticalNet claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include matters relating to technology, performance and operation; rapid technological and market changes; potential intellectual property and licensing issues; as well as those factors set forth in the Company's Annual Report and the company's quarterly report on form 10-Q for the quarter ended March 31, 2000, both of which have been filed on form 10-K for the year end December 31,1999 with the SEC.

VerticalNet and NECX are the registered trademarks of VerticalNet, Inc. All other names are trademarks and/or registered trademarks of their respective owners.