Prudential Xpress Life Program Simplifies Sales Process For Third Party Distributors

Business Wire, May 21, 2002

Business & Insurance Editors

NEWARK, N.J.--(BUSINESS WIRE)--May 21, 2002

Prudential Financial, Inc. (NYSE:PRU), announced today a new way for third party brokers and general agencies to more easily and efficiently initiate new business with Prudential, which may be processed online through Prudential Xpress(SM), the company's award-winning web-based business-to-business platform.

"We created our new one-page XpressLife(SM) program because the market was demanding a simpler method to submit new business. The Prudential Xpress platform provided the infrastructure to meet this need," said Erik Raper, vice president, e-commerce, at Prudential. "The feedback we've received so far is that our one-page XpressLife(SM) Program is a welcome addition to the Prudential Xpress e-business platform."

Launched in March 2001, Prudential Xpress gives third party distributors sophisticated tools to market products offered by Pruco Life Insurance Company, a Prudential Financial Company, and to initiate business, manage cases online, obtain marketing materials, and much more. Last November, Prudential Xpress won the Business-to-Business Best Practice Award from the eWeek and Technology Managers Forum.

Jeff Tognola, director of marketing and web management and project director for the XpressLife Program, said, "A few of our competitors have simple programs for submitting new business, but our third party customers indicate that ours is one of the most effective, simplified processes they've experienced."

Third party distributors can use the one-page XpressLife Program for Pruco's individual life product portfolio. They simply complete a one-page QuickForm to initiate the underwriting process. The QuickForm can be mailed, faxed or submitted online. When the QuickForm is received, Prudential will contact the proposed insured to gather administrative and medical underwriting information.

"When third party distributors use the QuickForm, cases enter the underwriting process more quickly - which can reduce the time it takes to issue a policy. Brokers and general agencies like having Prudential assume responsibility for asking the more private, and often uncomfortable, medical questions. And customers appreciate the single phone call to process their insurance request," said Tognola.

Once submission is complete, the Prudential Xpress platform can provide real-time case status, which allows third party distributors to track and manage their cases through the online system, pointed out Tognola.

Prudential Financial companies, with approximately $590 billion in total assets under management and administration as of December 31, 2001, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the U.S. These companies offer a variety of products and services, including life insurance, property and casualty insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prudential.com.