American Skandia Selects Tower Technology; Imaging and Integrated Document Management will Streamline Customer Service

Business Wire, June 10, 1999

BOSTON--(BUSINESS WIRE)--June 10, 1999--

Tower Technology announced today that American Skandia Life Assurance Corporation, the 5th largest issuer of variable annuities in the U.S., has chosen its award-winning integrated document management solution, Tower IDM(tm), to automate American Skandia's customer service and new business operations. This multi-million dollar imaging and workflow system will upgrade an existing imaging system and will provide American Skandia's 300 U.S. based customer service reps with instant access to customer information.

Tower IDM will be integrated with all new variable annuity application processing and will handle approximately 3.6 million documents per year. Each application form and any other related customer documents and correspondence will be scanned, indexed and integrated into a sophisticated workflow process that will ensure that the appropriate American Skandia representatives will have immediate access to the customer's documents and all policy-related documentation. The implementation will also include conversion of more than 6 million images from American Skandia's existing imaging system.

As one of the fastest growing issuers of variable annuities in the U.S. with total sales of over $5B, American Skandia places a premium on "best-in-class" customer service. "We've built our business and our reputation on outstanding customer service," said Ian Kennedy, Senior V.P. at American Skandia. "Tower IDM will enable us to continue to lead our industry in customer service and will easily support our rapid expansion."

"American Skandia has experienced tremendous growth in the last several years," said Nancy F. Brunetti, Executive Vice President at American Skandia. "We believe that Tower Technology can address not only our high-volume requirements, but also deploy a sophisticated system within our aggressive timeframe."

Tower Technology has extensive experience in the rapid deployment of high-volume, integrated document management and complex case management systems. "American Skandia's high-volume requirements, especially in document capture and delivery, are a perfect match for Tower IDM's scalability and performance," said Alex Young, Vice President of Tower Technology's Insurance Division. "We believe this solution exemplifies how Integrated Document Management technology can provide customers with a clear, competitive advantage."

About Tower IDM

Tower IDM provides one familiar user interface and one Common Enterprise Repository(tm) for full-function production imaging, case management (workflow automation), enterprise report management (COLD/ERM) and document management in both client/server and internet browser environments. Its unique high-volume, production-quality color imaging provides superior visual acuity of images without massive storage requirements and is a favorite feature for many of Tower's customers.

Tower IDM's seamless integration with the standard Microsoft environment, provides users with a desktop interface and filing structure that is already part of the corporate infrastructure, thus enabling knowledge workers to quickly and easily utilize the system. Images, documents, messages and other unstructured information move throughout an enterprise as easy as e-mail. Accessibility, speed and ease of use are the keys to making Tower IDM an enterprise repository for unstructured information.

About American Skandia

American Skandia Life Assurance Corporation and American Skandia Marketing, Inc., the distributor of its variable insurance products (collectively "American Skandia") offer a wide range of long-term savings and income solutions to customers of retail financial professionals and provide the financial intermediary value-added services, ideas and business tools.

American Skandia's innovative products are designed to serve the needs of investors of all ages and types. American Skandia Life Assurance Corporation offers variable annuities, variable life insurance, and products for use with qualified plans, all distinguished by a platform of innovative, hard-working benefits: multi-manager investment selection, asset allocation services and technology and software support. American Skandia Marketing, Inc. is also the distributor of a retail mutual fund family, American Skandia Advisor Funds.

American Skandia Life Assurance Corporation is a member company of Skandia Insurance Company Ltd. ("Skandia"), a global financial services leader and the largest insurance company in Scandinavia. Founded in 1855, Skandia has more than 200 offices in 25 countries worldwide.

About Tower Technology

Tower Technology is a worldwide leader in delivering award winning, high-volume, production imaging, case management and integrated document management solutions. Tower Technology has a proven track record of providing mission-critical solutions on time and on budget. Many of the world's largest imaging and document management systems, some of which have hundreds of millions of objects on-line, are powered by Tower Technology. Tower Technology supports customers around the world and has offices in the North America, Australia and Europe. For more information on Tower Technology and Tower IDM, contact Tower Technology at 888-733-5500, e-mail: inquiry@towertech.com or visit the web site at www.towertechnology.com.