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2004 - 2003  |  2002 - 2001  |  2000 - 1999
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Evolution Benefits and BenefitPoint Team Up to Offer Brokers and Consultants Online Access to Benefits Debit Card Services
Avon, CT and San Francisco, CA — Wednesday, May 12, 2004 — Evolution Benefits Inc., the Avon, Conn.-based Benny™ benefits debit card company, and BenefitPoint Inc., the San-Francisco-based company that created the platform connecting employee benefits professionals, announced today a multi-year contract for Evolution Benefits to become BenefitPoint's preferred vendor for marketing card-powered flexible spending, health reimbursement and transportation management accounts administration to BenefitPoint brokers and consultants. Evolution's Benny™ card provides employees convenient access to their benefits funds in any one or all of these accounts on a single card.

As a result of this agreement, BenefitPoint's brokers and consultants for the first time will have online access to Evolution's products and services through its Aptus software, using the Instant Quote capability to quickly, accurately and efficiently create consumer-directed product proposals that include a debit card.

"We are delighted to join with BenefitPoint in offering much-needed capabilities easily and conveniently to brokers who operate in the mid-size employer market," noted Robert E. Patricelli, Evolution's founder and chief executive officer. "BenefitPoint, the industry's leader in customer relationship management and procurement, can now make it easier than ever for brokers to get up-to-date information about card-powered, consumer-directed products, and obtain automatic quotes, all of which will better serve their clients."

Evolution is teaming up with several of the top third party administrators it already works with to provide BenefitPoint subscribers with all of the administrative elements included in complete product offerings. "Brokers can attract additional revenues by offering these services from well-known, highly regarded TPAs -- with all the added benefits of a debit card -- to a market struggling with the same, if not greater, cost increases that we're seeing in the larger employer market segments," Patricelli added.

John Randazzo, BenefitPoint's chief executive officer, said, "In our constant efforts to provide our broker and consultant partners access to 'best of breed' capabilities, we did a lot of research on card-powered offerings. Evolution clearly has the industry's most advanced debit card solution and is dedicated to the same tenets of innovation, automation and service as BenefitPoint. It's a perfect fit."

The companies are collaborating in other areas as well. "We're also developing 'off-platform' joint marketing programs," Donna E. Porritt, Evolution's senior vice president and chief marketing officer, stated. "These involve conferences, employer-focused communications, on-site promotions and in-person meetings with brokers and consultants." Porritt noted that the BenefitPoint Knowledge Base will house the full spectrum of learning and sales aids brokers will need to promote the Benny™ debit card and the employee benefits programs it supports. "BenefitPoint provides us with a broad communication and marketing channel, enriching our relationships with brokers and consultants," Porritt concluded.

"The employee benefits industry has been dependent on paper processes for too long, resulting in unnecessary hassles and expenses, and trailing all other financial services sectors in technology adoption," added Randazzo. "By teaming with an innovator like Evolution, BenefitPoint can help our broker and consultant subscribers learn about and take advantage of efficient payment technologies and related services from the clear industry leader. Our subscribers can now offer employers the fresh ideas they have been looking for in attempts to find savings they can transfer to their health care consumers."

About Evolution Benefits
Evolution Benefits Inc. was founded in 2000 with a commitment to supporting the movement toward offering consumers greater choice in and responsibility for managing their benefits through its innovative product, the Benny™ debit card. Adopted by the nation's most prestigious employers and health plans, and in use by hundreds of thousands of employees, Benny applies advanced payment technologies to flexible spending, health reimbursement, transportation management, and health savings accounts. More company information is available at www.EvolutionBenefits.com.

About BenefitPoint
BenefitPoint, the industry's leading customer relationship management and procurement software platform, makes it easier for employee benefits professionals to manage, buy and sell benefits. Brokers, consultants and carriers realize expanded business opportunities, operational efficiencies and a greater ability to deliver quality information and services to employers and employees.

BenefitPoint Aptus has achieved widespread industry adoption with over 310 broker and consultant offices using the product, managing over 40,000 employer clients with 22 million employees and approximately $90 billion in premium. Over 420 carrier organizations use BenefitPoint to access broker and consultant RFP and renewal requests. Take the BenefitPoint Aptus Product Demo on the corporate website at www.benefitpoint.com.


BenefitPoint is a trademark of BenefitPoint, Inc. All other company and products names mentioned here are trademarks of their respective owners.
 
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