News Releases

Baltimore Life Announces Pilot Program

For Immediate Release

OWINGS MILLS, MD, AUGUST 19, 2004—The Baltimore Life Companies has announced the introduction of a pilot program for a cutting edge combination of product and technology. The pilot program, which will run for one month, involves three Pennsylvania career agencies, in Philipsburg, Lehigh Valley, and Susquehanna Valley.

As part of a plan to move into a paperless selling environment, the program combines two new simplified issue whole life products, Silver Guard I and Silver Guard II, with a revised electronic application and automated underwriting system. The application and underwriting process, called INSpeed, involves a call center at which a licensed representative completes the application and asks the medical questions while the agent is with the client. During the telephone call, INSpeed integrates the application and underwriting processes with Medical Information Bureau for medical history, automatic bank draft set up, and a credit card authorization process. Based on prior experience, it is estimated that over 80% of all applications will be approved while the agent and client are on the phone with the call center.

Baltimore Life’s Senior Vice President and Chief Marketing Officer, G. Edward Hughes, said, “The entire INSpeed process takes about 15 to 20 minutes, and both the client and the agent are enthusiastic about the instant approval. The early response to INSpeed has been extremely positive.”

Hughes went on to say, “After this pilot program is complete, which should be around Labor Day, we will roll it out to our other career agencies. In addition, we will expand the Silver Guard products and INSpeed to our Independent Sales Division, which operates on a national scale. These products, and the INSpeed technology, are an integral part of our future.”

About INSpeed
A visual and audio presentation about INSpeed is available at www.inspeedtech.com.

About Baltimore Life
Established in 1882, The Baltimore Life Insurance Company has served six generations of policyholders. Emphasizing building and preserving high quality assets has enabled Baltimore Life to uphold its commitments through the years.

Baltimore Life is licensed in 49 states and the District of Columbia.

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