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BASKING RIDGE, N.J., May 13, 2002 -- Hooper Holmes, Inc. (Amex:HH) and ZeBU Corporation, the leading provider of workflow processing and enterprise solution software technology in the insurance industry, today announced the completion of the terms of a strategic alliance agreement.
The strategic alliance speeds transaction time in the life insurance underwriting process and decreases the costs of acquiring new customers for both Hooper Holmes and ZeBU. Effective immediately, the agreement enables the many insurance carriers, general agents and insurance industry information and service providers that utilize the ZeBU network for business processes to order and receive Hooper Holmes' underwriting services through the same network. As part of the agreement, Hooper Holmes will offer ZeBU software to its customers that do not already license it.
Jim McNamee, Chairman and Chief Executive Officer, stated, "We look forward to working with ZeBU and believe the alliance will strengthen Hooper Holmes' position in the life insurance industry. We believe this agreement will facilitate and significantly improve the underwriting process, and it underscores our commitment to meeting our customers' needs."
Mike Feroah, President of ZeBU, commented, "This relationship will allow us to provide tightly integrated solutions for the life insurance industry. Hooper Holmes' presence and customer satisfaction in the insurance community, combined with our workflow solutions sets the stage for the end effort of reducing time and cost to process."
About Hooper Holmes
Hooper Holmes, Inc. provides health information services on insurance policy applicants to the life insurance industry. The Company provides these health information services through over 225 locations nationwide.
About ZeBU
ZeBU is the leading provider of workflow processing and enterprise solution software technology in the insurance industry, and provides the most effective business solutions for new business processing, management and information-connectivity. ZeBU's software and HUB technology have become the solution for more than 70 insurance carriers and more than 3,000 general agencies and information providers. ZeBU processes more than 3,000,000 data transactions weekly. For more information about ZeBU or their products, call 1-800-825-6513 ext 2807 or visit them on the Internet at http://www.zebuinc.com.
Certain information contained herein includes information that is forward- looking. The matters referred to in forward-looking statements may be affected by the risks and uncertainties involving the Company's business. These forward-looking statements are qualified in the entirety by cautionary statements contained in the Company's Securities and Exchange Commission filings. The Company disclaims any obligation to update these forward-looking statements.
Contacts:
Hooper Holmes, Inc.
David Goldberg, Senior Vice President, Sales & Marketing
+1-908-766-5000
Morgen-Walke Associates
Investors:
Lauren Levine/Lanie Fladell
Media:
Dan Budwick
+1-212-850-5600, for Hooper Holmes, Inc.
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