Exigen Insurance Solutions, Inc. Launches and Taps $10 Million in Venture Funding

San Francisco, Calif., August 27, 2008

Exigen Insurance Solutions, Inc., the IT 2.0 provider specializing in rapid implementation of new business initiatives and products for insurance, announced its launch today. Formerly operating as the insurance solutions unit of Exigen, Ltd., Exigen Insurance Solutions will focus on the growing market for its suite of insurance solutions while tapping $10 million in new venture funding from Exigen Capital.

Exigen Insurance Solutions’ market-ready products and suite of Property & Casualty business lifecycle systems for policy administration, claims, billing and account management allow clients to rapidly introduce modern, service-oriented solutions and accelerate insurance product innovation. These solutions deliver competitive advantage, cost reduction and business process efficiency to top 10 global and U.S. carrier clients as well as mid-size and regional insurers.

“The insurance technology market is rich with growth opportunities. Exigen has been providing insurance technology solutions for over five years. With the maturity of the solution set and the solid foothold in the market that it has earned, now is the right time to expand its operations and broaden its solution set as an independent entity,” said Gwen Spertell, Exigen Insurance Solutions CEO. “The new company will be more agile and responsive to the market. From the boardroom down, Exigen Insurance Solutions’ only focus will be insurance market needs, and how we can meet and exceed them.”

“Exigen Insurance Solutions is well positioned to become a prominent player in the insurance technology and solutions market,” said Yuri Shtivelman, Exigen Insurance director and general partner of Exigen Capital. “In line with our IT 2.0 business model, which allows clients to replace the conventional vendor/customer relationship with true economic partnership, we have access to resources required to endorse risk/reward contracts, and support Business Process Outsourcing (BPO) or Business Process Utilities (BPU) deals as these become more prominent in the marketplace. These will be growing opportunities as insurers experience the benefits of partnering with a provider who is economically aligned with their business priorities.”