Ford Motor Company Manages Healthcare Costs; Selects IE-Engine's Renewal and Sourcing Software

    WALTHAM, Mass.--June 18, 2002--IE-Engine Inc., the leading enterprise software solution for renewing, measuring and sourcing healthcare, employee benefits and HR services, announced today that Ford Motor Company has joined their growing list of Fortune 500 customers.
    "This confirms an emerging trend taking place within F500 companies," stated John McMahon, President and CEO of IE-Engine, "Corporations such as Ford Motor Company are investing in technology to help them gain knowledge, management and control of their healthcare and employee benefit costs."
    Ford Motor Company's initial use of IE-Engine's flagship product, insurance-engine, will be to automate and manage more than 130 health plan renewals covering their 340,000 employees. Upon completion of this process, the application will leverage the data gathered from the renewal to manage and measure carrier performance throughout the year.
    By warehousing all renewal and sourcing information in an IE-Engine database, customers are becoming empowered to make better buying decisions today and in the future. The use of such information enables purchasers to develop benchmarks and trend analyses that become invaluable to future renewals and sourcing events.
    "We're delighted that Ford will be using our product to automate their health plan renewals," furthered John McMahon, "The insurance-engine solution gets results --decreasing costs while preserving or enhancing the quality of services. It creates a wonderful synergy between Human Resources and Procurement, helping everyone to reach their shared goals of quality and savings."

    About IE Engine Inc.

    Founded by group insurance, technology and financial industry professionals, IE-Engine is the only software created specifically for Fortune 500 corporations to renew, measure and source healthcare, employee benefits and human resource services.
    RFP transactions conducted through IE-Engine have covered more than 1,000,000 lives to-date, with over 190 carriers and specialty vendors participating. Healthcare, employee benefits and HR services sourced through IE-Engine include medical, pharmacy, behavioral health, dental, AD&D, STD, LTD, vision, life, DBL, stop loss, as well as 401(k). Funding methods included fully- insured, self-insured and advice to pay. For more information, go to www.ie-engine.com.