Canada Life small group benefits products to be added to ConnectInsure online exchange for insurance professionals
OTTAWA, Ontario – December 3, 2002 – Global IQX Inc., developer of the ConnectInsure Web-based quoting service that enables insurance brokers and consultants to conduct online quotations and enrolment transactions, today announced a partnership with the Canada Life Assurance Company.
The deal will see Rewards, Canada Life’s small group benefits product, made available through the ConnectInsure Web site at www.connectinsure.com.
“We are extremely pleased to add Canada Life to our list of partners,” said Michael de Waal, president and founder of Global IQX. “Canada Life is a very strong company, with a share of nearly seven per cent of the country’s group insurance market.”
“The solid support from Canada Life validates the high level of success that we’ve enjoyed with both ConnectInsure and the IQX SEMCI Engine.”
Canada Life is one of the largest, most profitable insurance companies in Canada. With over six million customers, Canada Life provides a broad range of insurance and investment products to individuals and groups.
“We are pleased to partner with Global IQX in offering Canada Life small group benefits products over the ConnectInsure Web portal,” said Joseph Ricciuti, Vice President, Group Business Development & Marketing, Canada Life. “IQX technology has a proven track record in boosting online sales while reducing costs, which we expect will significantly increase our presence in the Canadian small group benefits market.”
Canada Life is the seventh Canadian insurance carrier to partner with Global IQX in just over a year. Global IQX has also formed partnerships with the Liberty Health, Empire Life Insurance Company, Desjardins Financial Security, Manulife Financial, Green Shield Canada and the Clarica Life Insurance Company. Product offerings are carrier specific, and include both individual and group insurance products.
Currently, nearly 1,500 licensed insurance brokers and consultants in Canada are registered with ConnectInsure, a Web-based application powered by the IQX Platform. Available free of charge, ConnectInsure provides plan advisors, brokers and other certified benefit planners access to an instant, insurance quoting service online. Traditionally, benefit advisors and brokers have needed four to six weeks to gather the detailed information for a client quote and presentation. ConnectInsure delivers all the same information in a few minutes.
About Canada Life
The Canada Life Assurance Company, Canada’s first domestic life insurance company founded in 1847, has total assets under administration in excess of $65 billion. Headquartered in Toronto, the Company operates in Canada, the United States, the Republic of Ireland, the United Kingdom, Brazil, Germany, Hong Kong, Bermuda, and the Caribbean. For more information about Canada Life, please visit www.canadalife.ca.
About Global IQX Inc.
Global IQX is the developer of the IQXä Platform and IQXä SEMCI, a suite of component-based quoting, distribution and enrolment software. The company also powers an online exchange called ConnectInsure, which is designed to automate the quoting and enrolment of insurance plans. Global IQX has streamlined the traditional process for supplying insurance quotations, saving registered brokers and insurance carriers time and money. Global IQX’s partners include the Canada Life Assurance Company, Liberty Health, Empire Life Insurance Company, Desjardins Financial Security, Manulife Financial, Green Shield Canada and the Clarica Life Insurance Company. Product offerings are carrier specific, and include both individual and group insurance products. Based in Ottawa, Global IQX is a privately owned corporation launched in March 2000. For more information, please visit the Global IQX Web site at www.globaliqx.com or the ConnectInsure Web site at www.connectinsure.com.Tags: Canada Life, Global IQX