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IBM and ChannelPoint Team up to Deliver e-business Solutions for Insurance and Financial Services Industries

Zurich Financial Services, the Global Leader in the Financial Services Industry, Is the First Joint Customer In Global Strategic Agreement

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WHITE PLAINS, NY - 16 Nov 2000: -- IBM and ChannelPoint, Inc., the leading provider of Internet-based, e-commerce solutions for the global insurance industry, today announced a worldwide strategic alliance focused on providing comprehensive business solutions to the insurance and financial services industries. These solutions are designed to automate and streamline the core business processes of insurance carriers and distributors as well as to create electronic marketplaces which connect buyers, sellers, and distributors. The first customer to work with the two companies is Zurich Financial Services, a leading financial services organization.

The products and services offered by the alliance are designed to enable insurance carriers and distributors to lower their costs substantially by streamlining manually-based business processes and integrating disparate legacy platforms with a new Internet-based e-commerce platform and leading application services. Additionally, the products and services of the alliance will enable insurance brokers and agents, financial institutions, financial advisors and Web-based aggregators to connect electronically to process insurance transactions. This connectivity will extend to third-party supplemental information providers, enabling organizations to offer substantially higher levels of service as well as providing new, innovative ways of purchasing insurance policies.

The first alliance customer is Zurich Financial Services, a Swiss-based global provider of financial protection and wealth accumulation solutions for more than 35 million customers in 60 countries. In close cooperation with IBM and ChannelPoint, Zurich Financial Services is creating a comprehensive integrated global e-business exchange which will enable its business units to increase the distribution capacity to its sales channels, provide integrated solutions, and focus on target customers through an interactive e-marketplace.

Gunnar Stokholm, member of the Enlarged Group Executive Board of Zurich Financial Services and responsible for the development of the Group's global e-business strategy, stated: "Our e-business strategy reaches far beyond traditional e-commerce solutions by providing our customers with state-of-the-art integrated financial solutions comprising all forms of insurance, asset management, financial planning and risk management -- including access to basic banking, stock brokering, and 'best of breed' third-party products."

"Electronic marketplaces create the infrastructure for future business models and enable powerful new ways to transact business in insurance and financial services," said Andy Williams, general manager, IBM Global Insurance Industry. "Working together, ChannelPoint and IBM bring together an unmatched set of capabilities in products, services and support which deliver value today and prepare organizations for the next generation of e-business."

"Both ChannelPoint and IBM understand that the future of the insurance and financial services industries hinges on those industries' ability to migrate disparate legacy systems and processes to a common, Internet-based platform," said Ken Hollen, CEO and co-founder of ChannelPoint. "By leveraging the power and reach of the Internet to conduct business, companies have the opportunity to lower their cost structures, increase revenue and market share, and be better prepared to capitalize on emerging e-marketplaces."

The ChannelPoint strategic alliance is another example of IBM's commitment to go-to-market with leading independent software vendors under the PartnerWorld for Developers program. Under this initiative, IBM has signed agreements with companies such as Siebel, Vignette, and PeopleSoft to target industries, such as financial services, retail and manufacturing. The goal is to provide developers with access to new customers and revenue opportunities through IBM's marketing, sales, and solutions resources. In return, developers commit to lead with IBM's middleware, server platforms, and services.

ChannelPoint's insurance-specific tools and technology will leverage IBM's Application Framework for e-business, thus providing insurance and financial services companies with the architecture and associated technologies required to deploy B2B and B2C e-commerce applications and services. The IBM Application Framework for e-business is an open standards-based technology roadmap that helps developers integrate Internet technologies with traditional IT. The ChannelPoint insurance technology framework supports both ChannelPoint and third-party applications and services providing leading insurance and financial services companies with a standard Internet-based foundation to automate core business functions and enable the creation of markets for multiple line shopping, selling and buying of products.

As part of this effort, ChannelPoint plans to license IBM's Insurance Application Architecture* (IAA) and other strategic products that are part of the IBM Application Framework for e-business, such as DB2* Universal database, WebSphere* application server and MQSeries* messaging software. ChannelPoint will also make its e-commerce products available on the IBM AIX* operating system and IBM eServers*, including the pSeries* and xSeries* brands. The combination of IBM and ChannelPoint solutions provides the foundation for the development and implementation of robust, efficient, Internet-based carrier, distributor and buyer applications which can also leverage investments made in legacy systems.

ChannelPoint's technology solutions deliver a highly scalable, extensible and customizable Internet-based architecture, built with the most advanced, tools and techniques available. The end result is an architecture that enables complex and collaborative transactions between insurance and financial services providers, distributors and their customers. These applications support existing and new e-markets, which can be single-or multi-carrier and can support multiple products across multiple lines of business.

As a ChannelPoint preferred integration partner, IBM will create a center of competency within its Global Services business for the design and customization of ChannelPoint-based solutions. Outside North America, IBM will market, sell and service the ChannelPoint solution set, whereas in North America both companies will cooperatively market and sell to insurance and financial services accounts.

About ChannelPoint, Inc.
ChannelPoint provides Internet-based, business-to-business solutions that enable e-commerce for carriers, distributors and customers in the $2.8 trillion global insurance industry. The company provides solutions and expertise focused on delivering value in the Life, Property & Casualty, and Health Insurance lines of business. ChannelPoint provides technology and services for more than 500 carriers and 60,000 agents and brokers, and powers leading insurance portals. ChannelPoint's technologies leverage the power of the Internet to streamline and automate the insurance distribution process to facilitate end-to-end transaction processing. The Company's technology enables the creation of e-markets that bring together buyers and sellers of insurance products. ChannelPoint is headquartered in Westminster, CO. For more information, visit www.channelpoint.com.

About IBM PartnerWorld for Developers
Software application developers receive support from IBM's PartnerWorld for Developers (www.developer.ibm.com) -- a worldwide program designed to help software developers reach broader markets, lower their costs of doing business, and take their products to market faster.

About IBM
IBM's Financial Services Sector is the world's leading provider of comprehensive, integrated e-business solutions to the insurance, banking and financial markets industries. Working directly with its financial services customers, IBM develops and deploys mission-critical industry-specific technology solutions. Those solutions comprise the full range of IBM capabilities including consulting, software, hardware, research and services, and help companies address business issues such as customer loyalty, e-marketing, e-claims, business transformation, operational efficiency, security and risk management. Additional information about IBM can be found at www.ibm.com/solutions/financialservices.

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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.

*IBM, IBM DB2 Universal Database, WebSphere, MQSeries, eServers, xSeries, pSeries, IBM AIX, and IBM Insurance Application Architecture are all trademarks or registered trademarks of IBM in the United States and other countries.

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