Coming to a Computer Near You: iBenefits Launches iWorksite, Redefining Employee Benefits Through the Internet.

Business Editors/Internet Writers

EL SEGUNDO, Calif.--(BUSINESS WIRE)--April 19, 2000

Companies Enhance Offerings and Decrease Costs of Employee Benefits

Through Web-enabled Worksite Marketing

iBenefits, a leader in transforming the $20 billion employee benefits services industry through technology, today launched iWorksite(TM), an Internet-based vehicle that will bring employees a vast array of voluntary insurance products at group rates through their employers. The new program works in conjunction with iBenefits' core Web-based products, iAdmin(TM) and iElect(TM).

iWorksite products, such as life, short-term disability and critical illness insurance, are made available through relationships established with carriers who allow their products to be purchased, enrolled and administered via the Internet. Their Web-friendly products are distributed to companies via the existing distribution chain of benefit brokers and consultants. The products are then purchased by employees and enrolled through iBenefits' iElect, an Internet-based enrollment application.

"iWorksite is another milestone in our ongoing plan to redefine the delivery and administration of employee benefits," said Jeff Graves, chief executive officer of iBenefits. "iWorksite facilitates e-commerce transactions through employers and will quickly revolutionize how voluntary insurance products are bought and sold. Everyone wins in this new environment -- employers, employees, brokers and carriers -- since the products are affordable, accessible and easy to administer."

iWorksite eliminates the administrative barrier that benefit managers have traditionally faced in offering voluntary insurance products and allows employees to make purchasing decisions in a pressure-free environment. It also allows companies to offer employees an extensive selection of group-priced ancillary benefits from multiple providers.

Employee benefit election information is transmitted to their company's payroll system, so premiums for the voluntary benefits are automatically deducted from their paychecks. Benefit managers use iAdmin, iBenefits' online administration application, to monitor the online enrollment process and instantly calculate their cumulative premium payments. All benefit elections are transmitted directly from the iBenefits database directly out to insurance brokers and carriers, requiring no additional data entry or paperwork.

Via iWorksite, insurance carriers and brokers have the opportunity to market their products directly to end-users, through participating employers.

About iAdmin and iElect

iBenefits has developed iAdmin and iElect, Web-based tools that allow benefit managers, brokers, and TPAs (Third Party Administrators) to streamline the delivery and administration of employee benefits. The iBenefits system interfaces with employers' existing HRIS, ERP and payroll systems to exchange critical employee data. The Internet-based platform means there is no lengthy or costly software or hardware installation process for clients.

iAdmin helps brokers, TPAs and benefit managers administer and communicate company benefits efficiently throughout the year. The system tracks all

employees through their enrollment, notes employee status changes, creates census reports and includes other reporting features that configure up-to-date employee data, which is pulled from payroll or other employer-side systems.

iElect allows employees to make benefit choices at their leisure and from the convenience of their own desktop computer, at work or at home. The system creates a two-way benefits communication tool. Employees access benefit plan information and enroll for benefits via the Internet, their company's Intranet, on enrollment worksheets or a combination of these methods. The system communicates employee benefit elections back to employer payroll systems and carrier or TPA systems.

About iBenefits

For its diverse customer base, iBenefits' applications offer greater efficiency, easy implementation and compatibility with multiple databases and operating systems, with a low cost of ownership and operation. The company's Benefit Analyst Team, a staff of industry-trained consulting and technical support specialists, supports all iBenefits online implementations. iBenefits began producing and implementing similar online technologies as early as 1997, providing private-label solutions for companies ranging from 200 to 5,000 employees. Positioned as The Broker-Friendly Company(TM), iBenefits uses a broker-based distribution channel to reach employers. For more information about iBenefits' products and solutions, visit www.iBenefits.com.