Allenbrook Responds To Dynamic Changes Insurance Industry; Company Initiatives Demonstrate Ingredients for Sustained Growth and Continued Success.

Business/Technology Editors

LOWELL, Mass.--(BUSINESS WIRE)--March 13, 2000

Allenbrook, Inc., one of the insurance industry's premiere providers of enterprise-wide automation and consulting services to property and casualty (P&C) companies, today disclosed its plans for leading its customers through the sweeping changes currently impacting the industry. Patricia Foye, President, likened the scope of this transformation to what was experienced by the telecommunications, computer and health care industries.

"The industry is changing dramatically. We are experiencing change in the regulatory environment, in technology, and in the ferocity of competition among industry players," Foye said. "This spells opportunity for those companies that can comprehend the changes, have planned for the technological evolution and have the ability - and willingness - to effect this transformation. This is the time to step up and seize the opportunity, and Allenbrook is poised to take on this leadership role."

Trident II Investment

Allenbrook recently announced that Trident II, a private equity investment partnership managed by Marsh & McClennan Capital, Inc., has acquired a major equity interest in the AMS Companies, Allenbrook's parent company. With Trident's investment, Allenbrook will be better positioned to accelerate and expand its customer service, support and product capabilities while continuing to provide solutions to meet its customers' ever-evolving business challenges. Trident II makes equity and equity-related investments in the global insurance, reinsurance and insurance technology and related industries.

"The capital and other resources provided by Trident II enable the AMS companies to enhance their existing products and services and, at the same time, invest in the new generation of integrated technology and information services provided to our customers over the Internet," Foye continued. "With support from Trident II, Allenbrook is able to move at market speed."

"Trident II has invested in AMS because it fully supports AMS's business and strategic plans and has full confidence in its management and employees," said John Ashenhurst, Executive Vice President of Strategic Planning and Business Development for AMC Companies.

Management Team

Foye's recent appointment as President of Allenbrook signals the first in a series of initiatives designed to bolster the company's management team and overall industry position. Allenbrook recently restructured its management staff and hired several sales and marketing focused executives including Pamela Warren, Vice President of Marketing, to lead image building and branding efforts for the company. Michael Hefron, Vice President of Sales, will spearhead the sales effort for both the Phoenix software and the Allenbrook outsourcing solution.

"These individuals bring a combination of industry experience and breadth of knowledge that rounds out our current capabilities and enhances our overall competitive stance," said Foye.

Delivering What Customers Want: Choice

"Allenbrook Policy Processing Services (APPS) was formed in 1998 as a division of AMS to expand the product and service offerings to better meet customer business requirements. While Allenbrook has continued to expand and enhance its software, APPS utilizes the Phoenix solution and other industry products and services to offer outsourcing," said Darrell Kohel, President of APPS. "Outsourcing solutions enable P&C carriers to determine how software applications are managed and delivered, allowing them to focus on their core competencies."

Poised For Growth

Under Foye's leadership, the company just completed its most successful year on record. Building on this success, Allenbrook has begun to aggressively expand its business in the P&C marketplace by implementing a revitalized, "best of breed" sales and marketing strategy. Last year, the company redefined its development priorities and invested in becoming a more customer-centric service provider.

"Allenbrook's future development will be based on the needs of the market," stated Foye. "During the last nine months, we have put in place the components to solidly position us and strengthen our role as the leading supplier of technology solutions to the insurance industry. As we move forward, we will be ideally situated to anticipate and respond to our customers' needs."

Allenbrook, Inc., a division of AMS, provides Internet-enabled, enterprise-wide P&C policy management automation, outsourcing and expert consulting services to some of the most successful, creative insurers in North America. Allenbrook's Phoenix software, along with its consulting and implementation services, features leading-edge P&C solutions, engineered to deliver comprehensive, fully integrated personal and commercial lines policy administration, accounting, claims management, and more. With powerful user-managed technology designed for insurance professionals, Allenbrook partners with companies to help them contain costs and achieve steady growth. Phoenix is Windows(R)-based, highly scalable and change-responsive to support the strategic business goals of P&C insurers.