BenefitPoint Gaining Traction as Internet Standard forEmployee Benefits Industry; New Customers...

Business Editors/High-Tech Writers

SAN FRANCISCO--(BUSINESS WIRE)--May 17, 2000

BenefitPoint, Inc., the leading employee benefits infrastructure company for the distribution and management of group insurance and financial products, today announced that four more insurance brokerages have

The most recent customers to join the BenefitPoint community

include:

      --The Daniels Agency (New York)
      --Hylant Group (Ohio)
      --Mesirow Financial (Illinois)
      --DH Insurance Services (California)

Eighty five of the country's top brokerage firms, representing $25 billion in annual premium, have selected the BenefitPoint solution to date, including Arthur J. Gallagher & Co., Keenan & Associates, Kaye Group, Inc., and Summit Global Partners. By partnering with large regional and national brokerage and consulting firms as well as carriers, BenefitPoint has achieved dominance in the employee benefits market, a $1 trillion industry.

Entire Distribution Channel Benefits from the Online

Infrastructure

BenefitPoint's goal is to reduce the inefficiencies of the current paper-based employee benefits administration and procurement process and to connect carriers, brokers, employers, and employees via the Internet. This results in lower distribution and acquisition costs, better communications among all the constituents, and provides employers and employees with access to better products and services. "Simple point solutions won't work because they don't provide for the complex nature of employee benefits distribution and the important relationships that drive the business," explained BenefitPoint co-founder, Brian W. Bair. "Based on our first-hand knowledge of the industry, we developed a comprehensive system that creates administration efficiencies while respecting and enhancing existing relationships."

"We evaluated various solutions before choosing BenefitPoint," said Jerry Lynott, senior vice president, benefits, Hylant Group. "We're excited about our decision and look forward to BenefitPoint helping us to increase our efficiency and productivity by reducing the time spent on redundant tasks and eliminating paper. We also believe that BenefitPoint will strengthen our ability to bring new, innovative solutions to our clients, which gives us another means to differentiate Hylant from our competitors. By selecting BenefitPoint as our technology partner, we are sending a clear signal to our clients and the marketplace that we want to be on the leading edge of our industry. Strategic partners like BenefitPoint will help keep us there."

BenefitPoint's Complete Lifecycle Model Emerges as Standard for

Country's Top Brokerages

Benefits professionals across the country are implementing the BenefitPoint solution because it automates administrative and procurement functions, affording them with more time for value-added advisory and consulting roles. The BenefitPoint solution is unique in its focus on connecting all players in the industry. The company is the only comprehensive solution that provides a neutral Internet-based network for carriers, brokers, employers, and employees to communicate, share data, and transact business.

"BenefitPoint is the only system we've seen that provides a common database for clients, carriers, and our staff. This common platform is going to eliminate duplicate efforts and allow for much faster response time to our customers," commented Charles Daniels, principal, The Daniels Agency of New York. "The BenefitPoint system is going to put us head and shoulders above our competition from an accuracy and response time standpoint."

New Broker Customers Powered By BenefitPoint

The Daniels Agency (New York)

The Daniels Agency based in New York, Inc is one of the largest brokerages in the tri-state region of New York, Connecticut, and New Jersey, providing service to local families as well as multi-state corporations. Daniels specializes in commercial insurance and employee benefits and has programs for municipalities and social service agencies. Founded in 1926, this third generation brokerage has offices in Poughkeepsie and Pawling, New York; Danbury and Kent, Connecticut; and, Parsippany, New Jersey.

Hylant Group (Ohio)

Founded in Toledo, Ohio in 1935, the Hylant Group has been providing risk management services, insurance and employee benefits to businesses and individuals around the world for over 65 years. Today, the firm employs over 300 professionals with offices in Toledo, Cleveland, Columbus and Cincinnati, Ohio; Detroit and Ann Arbor, Michigan; Fort Wayne, Indiana; and, Portland, Maine. With premium flow in excess of $300 million, the Hylant Group has grown to become one of the top 50 agencies in the United States. For more information, visit the Hylant Group website at www.hylant.com.

Mesirow Financial (Illinois)

One of the country's top 50 independent insurance agencies, Mesirow Financial's Insurance Services Division offers a full range of high-quality programs and services to meet the needs of both business and individual clients. These include property and casualty, employee benefits, supplemental executive retirement plans, personal risk management, and life and disability protection. Founded in 1937, Mesirow Financial also provides financial services through its distinct practices in Investment Management, Investment Services, Investment Banking, and Real Estate. With more than $3 billion in assets under management, the firm employs nearly 700 people in nine offices across the country. For more information, visit the Mesirow Financial website at www.mesirowfinancial.com.

DH Insurance Services, Inc. (California)

DH Insurance Services, Inc. incorporated in 1981 provides comprehensive, full-service employee benefit solutions to over 130 San Francisco Bay Area employers and their U.S. and international employees. We specialize in tailoring benefit solutions to each client's unique philosophical, financial and organizational needs. DH Insurance's clientele include industry leaders in fields such as: semiconductor research and manufacturing, networking systems, software development, communications systems, venture capital investments, bio-technology, medical research and development, and internet access services. For more information visit the DH Insurance Services website at www.dhins.com.

About BenefitPoint, Inc.

BenefitPoint, Inc. delivers the leading Internet-based employee benefits infrastructure for the distribution and management of group insurance and financial products. As the central nervous system of the employee benefits industry, BenefitPoint provides a complete set of b2b services enabling benefits professionals 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 85 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, can be reached at 415/837-4120 or at www.benefitpoint.com. BenefitPoint, Inc. is privately held.

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