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Insphere Insurance Solutions^sm Commences Business As One of the Largest Independent Career Insurance Distribution Groups In America

Insphere Insurance Solutions rolls out proprietary technology platform to provide agents with a single agent desktop across multiple carriers and product lines

DALLAS/FORT WORTH – January 21, 2010 – Insphere Insurance Solutions^sm (http://www.insphereis.com) announced today that it has officially commenced business as one of the largest independent, career agent insurance distribution groups in America. With a force of approximately 2,200 agents, offices in over 40 states and authorization to do business in all 50 states and the District of Columbia, Insphere is offering life, health, long-term care and retirement products for the small business and middle-income market.

"We are extremely excited to launch Insphere Insurance Solutions nationally and offer a broad range of products that meet the needs of the under-served small business and middle-income markets, through our arrangements with leading insurance carriers," said Phillip J. Hildebrand, president and chief executive officer of Insphere Insurance Solutions.

"Launching an agency like Insphere during this time of evolution and change in the insurance industry is important for both consumers and agents," said Hildebrand. "Consumers increasingly demand insights and choice when making a decision about insurance, and Insphere's agents and our portfolio of solutions provide that. Additionally, given potential legislative or regulatory reforms, agents who are selling only health products currently, may want to expand their capabilities to offer a variety of insurance products. Insphere Insurance Solutions offers that opportunity in a very dynamic way."

Insphere has also begun the roll out of Insphere Insite^sm, its proprietary technology platform that combines best-in-class industry technology with the individual tools provided by its carriers into a single system that provides a significant competitive advantage for field managers and agents.

"Our technology enables a better client experience because it complements the agent's knowledge with specific product information, comparisons and pricing options that reflect the individual's needs," said Hildebrand.

These industry tools include:

• Agent Portal: Providing sales agents access to critical product, marketing, training and reporting resources, built by technology partner Pariveda Solutions, Inc.;
• iPipeline: leading life insurance illustration, quoting and electronic application tools, including iGO e-App™;
• Microsoft Dynamics CRM: a market leader in client relationship management (CRM) technology;
• Norvax: the leading health insurance quoting and electronic application system used extensively by carriers and brokers nationwide; and
• VUE Compensation Management: the emerging leader in producer administration and compensation technology in the insurance industry as the core of Insphere's technology platform.

"Simply put, by integrating these tools into our proprietary technology platform, our agents will operate in a seamless multi-carrier environment that will feel like they are working with a single carrier for everything from quoting, electronic applications, application tracking, managing compensation and managing their client base," said Hildebrand. "We believe the Insphere Insite technology platform, in addition to in-house training and support, provides a unique offering for an independent career agent that delivers a tremendous advantage in the marketplace."

Insphere Insurance Solutions is structured as an agent-producer group offering what we believe is a market-leading, total-compensation package that features a consolidation of production across all carriers and product lines to determine commission level and bonus, funding for leads as well as an equity opportunity in Insphere Insurance Solution's parent company that we believe is unique in the industry.

The plans for Insphere Insurance Solutions were originally announced in July 2009. Since that time, Insphere has completed marketing agreements with Aetna and UnitedHealthcare's Golden Rule Insurance Company for individual health insurance plans, John Hancock for long-term care insurance, ING for term life and universal life insurance and Minnesota Life for whole life insurance. Insphere also has a marketing arrangement with The Plus Group Texas which provides agents with access to disability income insurance products from market leaders MetLife, Principal Financial Group and The Standard.

Insphere Insurance Solutions is owned by a group of private equity investors, including affiliates of The Blackstone Group, Goldman Sachs Capital Partners and Credit Suisse, and is actively recruiting new and experienced insurance agents and experienced field leaders with an objective of doubling the number of agents over the next few years.

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About Insphere Insurance Solutions

Insphere Insurance Solutions, Inc. is a distribution company that specializes in meeting the life, health, long-term care and retirement insurance needs of small businesses and middle-income individuals and families through its portfolio of highly rated products offered by nationally recognized insurance carriers. Insphere is an authorized agency in all 50 states and the District of Columbia with approximately 2,600 agents nationwide. For more information, please visit www.insphereis.com.

 

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release may include forward-looking statements relating to Insphere Insurance Solutions, Inc. that are subject to certain risks, uncertainties and assumptions.  Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "intend," “may,” "objective," "plan," "possible," "potential," “project” and similar expressions.  Actual results may vary materially.  Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date.  Factors that could cause actual results to differ materially include, but are not limited to, the effect of recently enacted national health care reform legislation on our business; other legal or regulatory developments which may adversely affect our business including, but not limited to, laws or regulations which impede our ability to obtain effective leads; any failure to comply with applicable law or regulations; our ability to maintain applicable licenses; our ability to enter into and maintain satisfactory relationships with insurance carriers and agents; our ability to implement and maintain various information technology and administrative systems, platforms and processes necessary to successfully run the businesses, or the failure of such systems, platforms and processes to provide timely and accurate information; our reliance on outsourcing arrangements, which may subject us to risks related to business disruption or otherwise adversely affect our operations; termination of agreements with insurance carriers or revisions to contract terms which may adversely affect our business; the failure of insurance carriers to pay us in a timely and accurate manner or to provide us with data required to support product sales and accurately pay our agents; and the failure of an insurance carrier to administer underwritten business in an appropriate manner, which may lead to customer dissatisfactions and the lapse or cancellation of policies for which we and our agents receive commissions. Like any business, the progress and success of the company entails substantial uncertainty. There can be no assurance that other factors not currently anticipated by the company will not materially and adversely affect our financial condition and results of operations.  Readers are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.

Media Contacts:

Donna Ledbetter
(817) 255-5405
Donna.Ledbetter@InsphereIs.com

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