ChannelPoint and InsurQuote to Merge; InsurQuote's Property &Casualty Products to Accelerate ChannelPoint's Expansion and Market Reach.

Business Editors/Health &Medical Writers

COLORADO SPRINGS, Colo.--(BW HealthWire)--Feb. 1, 2000

ChannelPoint, Inc., a leading e-commerce exchange services and technology platform provider for insurance and benefits companies, and InsurQuote Systems, Inc., a leading Provo, Utah-based provider of integrated insurance rating solutions to the property and casualty insurance industry, today announced the signing of an agreement to merge.

The combined company will be called ChannelPoint, Inc. and have approximately 1,000 employees based in 11 offices across the U.S. The merger, which is subject to shareholder approval, gives ChannelPoint the ability to accelerate the delivery of its e-commerce technology platform and exchange services beyond life and health insurance to include automobile, home and commercial insurance products. Financial terms of the agreement were not disclosed. Shareholder approval is expected in February.

&uot;This is an important step forward in meeting the industry's need for a uniform technology platform that automates the sales and distribution of the most common lines of insurance,&uot; said Ken Hollen, president and co-founder of ChannelPoint. &uot;InsurQuote's established leadership in the property and casualty industry combined with our expertise in life and health will enable us to combine our technology platforms for all lines of insurance and for multiple distribution models. Ultimately, this translates into better choice, control and service for consumers and businesses alike.&uot;

&uot;We are pleased to be joining forces with a clear technology leader like ChannelPoint,&uot; said David L. Whetten, InsurQuote chief executive officer. &uot;Our combined products and our shared commitment to customer success position us to create new solutions that redefine the way that insurance is sold and serviced.&uot;

Dave Whetten and Bill Woahn (InsurQuote President) will both report to Ken Hollen, who will be the President and CEO of the combined companies.

The ChannelPoint Commerce(TM) Internet exchange platform is designed to give insurance and financial services suppliers across all lines of insurance the ability to conduct business electronically with their distribution partners and customers. The platform and associated exchange services are designed to enable the creation of configurable, web-based marketplaces that support the online shopping, selling and end-to-end purchasing of insurance, benefits and selected financial services products. The latest version -- Commerce 2.0 -- is designed to enable insurance carriers and distributors to deploy private, semi-private or open market &uot;web storefronts&uot; that maintain corporate identity, product design and image while reducing insurance distribution costs, increasing business opportunities and providing world-class service through Internet-based applications.

The merger brings to ChannelPoint significant domain expertise, content and technology from InsurQuote in the property and casualty insurance industry. InsurQuote's products utilize a comparative rating engine that enables the comparison of multiple carriers for automobile, home and commercial insurance products. InsurQuote's rating capabilities are featured on many popular consumer websites such as Intuit's Quicken Insurance, InsWeb and Autobytel.com.

&uot;The Internet is providing the insurance industry with an important new vehicle for addressing the consumers' demands for more choices and a streamlined delivery of products,&uot; said Judy Johnson vice president of insurance information strategies at the META Group. &uot;Crucial to the industry's success are technology partnerships that embrace the Internet to redefine the way insurance products are sold and serviced. The combination of ChannelPoint and InsurQuote makes a great deal of sense. By merging with InsurQuote, ChannelPoint has made a clear statement that it is serious about covering all major lines of insurance with its e-commerce solutions.&uot;

InsurQuote will operate as a wholly owned subsidiary of ChannelPoint. InsurQuote products and customers will continue to be supported while both companies integrate their product lines. ChannelPoint intends to retain InsurQuote offices in Provo, as well as its current offices in Beachwood, Ohio, College Station, Texas, and San Francisco, California.

About InsurQuote

InsurQuote Systems Inc. is a leading provider of integrated insurance rating solutions to the agency, company and consumer markets. These solutions utilize InsurQuote's sophisticated comparative rating engine that enables the comparison of multiple carriers for automobile, home and commercial insurance products. The InsurQuote Web site is www.insurquote.com.

About ChannelPoint, Inc.

ChannelPoint is a leading e-commerce exchange services and technology platform provider for insurance and benefits companies. The company's e-commerce solutions are designed to enable world-class insurance organizations to conduct business electronically with their distribution partners and customers through unique, web-based buying, selling and shopping environments. The ChannelPoint Internet exchange platform is designed to streamline distribution processes, increase sales and offer superior customer service. ChannelPoint is headquartered in Colorado Springs, Colorado. For more information, visit www.channelpoint.com.

Note to Editors: ChannelPoint, ChannelPoint Commerce and ChannelPoint Insure are trademarks of ChannelPoint, Inc. All other product and company names mentioned herein are the property of their respective owners and are mentioned for identification purposes only.