Minnesota Life's Group Insurance unit is finalist for technology award

St. Paul, MN, September 12, 2002 — LifeBenefits, an enrollment and account management web site for group life insurance benefits, is one of only six finalists for the A.M. Best E-Fusion award for outstanding uses of Internet technology by an insurance organization. Sixty-seven companies submitted entries.

Minnesota Life's group insurance division insures more than two million employees through employer plans nationwide. The LifeBenefits web site gives employees of client companies 24/7 self-service access to their life insurance benefits. Employees can enroll for insurance products, designate beneficiaries, answer health questions, contribute to cash value accounts and receive statements without a single piece of paper.

"The goal of LifeBenefits is to make life insurance benefits easier to manage for both employers and employees," said Maria O'Phelan, vice president, group customer service and technology. "In client companies where employees use the web site, we've seen service calls drop by an average of 35%" she explained. "Automating service processes allows us to dedicate more time to clients' specialized needs while keeping our pricing competitive."

The six finalists for the E-Fusion award will be reviewed on Sept. 29 at the E-Fusion 2002 conference in Washington, D.C. The winner will be announced at a reception Monday, September 30 at the National Press Club, Washington, D.C.

Minnesota Life, the nation's ninth largest group life insurer, has provided customized group life and disability insurance programs to government, business, and associations for more than 80 years. Minnesota Life is one of a select number of insurance company groups carrying "very high" ratings from the major industry rating agencies. Minnesota Life group insurance in force is more than $200 billion.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.