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Portland, OR — Wednesday, March 21, 2001 — StanCorp Financial Group, Inc. (NYSE: SFG), today announced
that two of its wholly owned subsidiaries, Standard Insurance Company and The Standard Life Insurance
Company of New York, have selected BenefitPoint, Inc., as a partner for online distribution of employee
benefits products and services. BenefitPoint provides producers and carriers with Internet solutions to
streamline request for proposal (RFP) and renewal workflows, improve communications, and simplify the a
ccess and transfer of data. The StanCorp Financial Group subsidiaries, both of which market products under
"The Standard" brand, will use BenefitPoint's technology to enhance sales and service experiences for their
employee benefits customers.
The StanCorp subsidiaries will gain access to BenefitPoint's Internet-based tools and network of more than
120 brokerage and consulting firms. "Partnering with BenefitPoint is consistent with Standard Insurance
Company's distribution strategy of supporting the consultant and broker intermediary," said Bob Reiff,
vice president, Sales for the Employee Benefits -- Insurance Division at Standard Insurance Company.
"In working with BenefitPoint, we expect to interact more efficiently with our current producers, gain
new distribution channels, and reinforce our position as a leader in the employee benefits industry,"
said Reiff.
BenefitPoint recognizes Standard Insurance Company and The Standard Life Insurance Company of New York
as employee benefits providers that are embracing new technology to create service efficiencies in
insurance service and distribution channels. "StanCorp's insurance subsidiaries clearly understand
the power of leveraging technology in the employee benefits industry," said Mark A. Pulido, chairman,
president and chief executive officer of BenefitPoint. "We're delighted that they have chosen to partner
with us, and to pursue the gains that BenefitPoint's platform enables. Insurance carriers, brokers,
employers, and employees can all benefit significantly from BenefitPoint's technology," Pulido said.
About StanCorp Financial Group, Inc. and its Subsidiaries
StanCorp Financial Group, Inc. is the holding company for Standard Insurance Company and The Standard
Life Insurance Company of New York.
Standard Insurance Company, StanCorp's largest subsidiary, was founded in Portland, Oregon in 1906, and
now serves customers nationwide with group and individual disability insurance and retirement plans, and
group life and dental insurance. Licensed in 49 states and the District of Columbia and accredited in
New York for reinsurance, Standard Insurance Company has more than 33,500 group insurance policies in
force, covering nearly five million employees.
The Standard Life Insurance Company of New York is headquartered in White Plains, New York. Established
in 2000 to provide group insurance products and services in the Empire State, the company currently
markets group disability insurance products.
For more information about StanCorp Financial Group, Inc., its Web site can be accessed at www.stancorpfinancial.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).
Since general availability in February 2000, BenefitPoint has already received widespread industry
adoption from regional and national insurance carriers as well as from more than 120 of the leading
U.S.-based brokerage and consulting firms. The company, headquartered in San Francisco, CA, can be
reached at 415.277.5600 or at www.benefitpoint.com.
BenefitPoint, Inc. is privately held.
Disclosure
Certain statements contained in this press release, including statements related to projected growth, future events, regulatory actions, the intent, belief, or current expectations of StanCorp's management, the future operating performance of StanCorp, and other statements regarding matters that are not historical facts, are "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, uncertainties regarding those risks and uncertainties disclosed in StanCorp's 2000 Form 10-K.
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