Toronto, September, 2002 – Two leading information technology providers to the property and casualty insurance industry, iter8 Inc. and Compu-Quote Inc., have formed a partnership to jointly market their products and services in North America.
iter8 has integrated Compu-Quote’s rating products into several of its technology solutions. Compu-Quote’s rating software provides access to the rates of over 700 insurance company plans and is integrated with all leading broker management systems and computer operating platforms.
iter8 will use this rating technology to enhance its solutions for the p&c insurance industry. Rates will now be available for its leading underwriting and back-office systems, including communic8, accur8 and valid8.
The two companies will also expand their joint offering to the CSIO portal. Iter8 has successfully completed testing for the portal, allowing companies to seamlessly link their business systems to the CSIO portal. Its communic8 application is a server-based solution that provides a single interface for insurance companies dealing with different data formats, allowing them to access, store, send and receive data to and from online services. Compu-Quote can provide guarantee rate products in real time to the portal.
“The rating technology from Compu-Quote enhances our applications and gives insurance companies a complete end-to-end solution,” says Glen Piller, president and CEO of iter8. “This is a great fit for both companies and an opportunity for the insurance industry.”
“We look forward to the partnership,” says John Savage, Compu-Quote’s president and CEO. “We have expanded our leading family of rating products to a recognized provider of innovative technology solutions.”
Headquartered in Toronto, iter8 is a key provider of online and back office business solutions for the insurance industry. iter8 enables insurance companies to provide their distribution channels the capability to quote, bind, sell and make policy changes online in real time, while consistently applying their underwriting and rating rules. For claims, iter8’s solutions allow insurance companies to achieve superior results in loss ratios, expense costs and customer service by automating claims rules and workflow. Through iter8’s innovative Definition Driven Development (D�) methods, insurers can solve the maintenance and integration issues that multiple technologies and programming languages create, ensuring rapid implementation and quick return on investment.
Compu-Quote Inc. has pioneered the development of rating software, providing rating and underwriting services to the Canadian property and casualty insurance industry since 1983. Compu-Quote offers its services in all provinces and territories in both English and French. Its family of automated rating products are integrated with all of the leading broker management systems and computer operating platforms.