BenefitPoint Quickly Becoming the Standard of Choice for Employee Benefits Industry.

Business Editors and High Tech Writers

SAN FRANCISCO--(BUSINESS WIRE)

May 3, 2000-

With More Than 70 Leading U.S. Brokerages On Board, BenefitPoint Is

Achieving Dominance In Insurance Industry

BenefitPoint, Inc., the first employee benefits infrastructure company for the distribution and management of group insurance and financial products, today announced that three additional leading middle market insurance brokerages have recently selected BenefitPoint as their eCommerce standard. The latest customers to join the BenefitPoint network include:

-- Calco Insurance Brokers & Agents, Inc. (California);

-- McGraw Wentworth (Michigan); and

-- SilverStone Group (Nebraska).

In addition to these three, more than 70 of the country's top brokerage firms have chosen the BenefitPoint solution including Arthur J. Gallagher & Co., Keenan & Associates, Kaye Group, Inc., and Summit Global Partners. BenefitPoint's customers represent varied employer markets in 39 states across the U.S. BenefitPoint has gained significant momentum in the business-to-business market by quickly signing up large regional and national brokers and consulting.

eVolution Versus eRevolution In The Monolithic Insurance Industry

According to Forrester Research, companies that work in the insurance distribution channels and insurance claims field will fare best in the eRevolution currently underway. Traditional insurance brokerage firms will need to evolve away from inefficient paper-based business processes and implement automation in their businesses. They also will need to do more than broker products--they will need to improve customer service and demonstrate added value by delivering more services such as enhanced research and analysis.

BenefitPoint provides the infrastructure that is enabling the employee benefits industry to make these important changes. Its Internet-based infrastructure enables the industry players to quickly evolve to automated business processes and position themselves as value-added strategic consultants. The BenefitPoint solution provides carriers and brokers with an application to efficiently deliver products and services, freeing them from the laborious processes that currently constrain their time and resources.

"At Calco, we specialize in employee benefits services for high-tech employers, who expect us to offer benefits solutions that are innovative and take advantage of current technologies," says Beau Brown, senior vice president of e-commerce, Calco Insurance Brokers & Agents, Inc. "BenefitPoint has an end-to-end solution that offers us, our clients, and carriers a common platform that's very powerful. The most exciting part for us will be to offer our clients and their employees immediate access to benefits information over the Internet via the BenefitPoint platform."

BenefitPoint: The Employee Benefits eCommerce Industry Standard

So, what does it take to become the eCommerce industry standard for the employee benefits industry? "Most dot.com `solutions' for insurance are simple point solutions that fail to address the complex needs and extensive nature of the insurance distribution channel," explained BenefitPoint CEO, Mark Pulido. "The key in this industry is to work within the existing distribution channel, leveraging technology to achieve a much higher level of efficiency and productivity by being spared from the mass of administrative tasks. BenefitPoint delivers a comprehensive system that was designed to benefit everyone--carriers, brokers, employers, and employees," Pulido continued.

"At SilverStone Group, we looked at several online options, but were most impressed by the sophistication of BenefitPoint," said Tony Sorrentino, executive vice president and senior consultant. "BenefitPoint offers a complete solution that is a quantum leap ahead of the online tools that have surfaced thus far. We believe that BenefitPoint is so well designed that it will easily become the insurance industry standard for conducting eCommerce."

New Broker Customers Empowered By BenefitPoint

Calco Insurance Brokers & Agents, Inc. (Calco): Calco, one of the 50 largest brokers in the U.S, provides clients with a full spectrum of insurance products and services, including workers' compensation, business insurance and employee benefits. Calco has clients in the technology, transportation, manufacturing, higher education, metal trades, and contracting industries. The company was founded in 1937 to provide insurance products and services to California-based businesses and has offices throughout California in Glendale, Orange, Sacramento, San Diego, and San Mateo. Additional information about Calco can be found on their website, www.calco.com.

McGraw Wentworth: The consulting services of McGraw Wentworth encompass the full range of group benefit products and services. The company's objective is to serve as an advocate, advisor, information provider and practical day-to-day resource for employers, with emphasis on their human resources staff. McGraw Wentworth, a privately held firm based in Troy, Michigan, was founded to serve the group brokerage and consulting needs of mid-sized public and private organizations. Additional information about McGraw Wentworth can be found on their website, www.mcgrawwentworth.com.

SilverStone Group: Based in Omaha, Nebraska, SilverStone Group was formed in 1995 and employs over 160 consultants, actuaries and administrators. Silverstone Group conducts business in all 50 states and specializes in business continuity and wealth transfer, executive compensation and benefits, flexible benefit and cafeteria plans, group health and life plans, human resource consulting, retirement plans, and property and casualty risk services. For more information, visit the Silverstone Group website at www.ssgi.com.

About BenefitPoint, Inc.

BenefitPoint, Inc. delivers the first Internet-based employee benefits infrastructure for the distribution and management of group insurance and financial products. BenefitPoint provides a complete set of B2B services enabling brokers and consultants to manage the entire group health insurance and benefits lifecycle. Building on the existing industry relationships among carriers, brokers, employers, and employees, the BenefitPoint solution combines the efficiency of the Internet with the established distribution model of the insurance industry to eliminate paper (saving everyone time and money), to make it possible to deliver more products and services (giving everyone more choices); and to make better information available (enabling everyone to make better decisions).

Releasing its first solution in December 1999, BenefitPoint has already received widespread industry adoption by more than 70 major insurance brokerages and consulting firms. BenefitPoint has received investment support from Sequoia Capital, Institutional Venture Partners (IVP), and some of the largest insurance brokerage firms in the United States.

The company, headquartered in San Francisco, CA, can be reached at 415/ 837-4120 or at www.benefitpoint.com. BenefitPoint, Inc. is privately held.

BenefitPoint is a trademark of BenefitPoint, Inc. All other company and product names mentioned here are trademarks of their respective owners.