Equinox Financial chooses VirtGate to replace their agency management system

CoVirt has proven to be the leader in the Canadian agency management technology sector.

TORONTO, June 13 – CoVirt Inc. (Canada), the Canadian leader in Internet-based life insurance administration services for Managing General Agents (MGAs), announced today that Equinox Financial Group, Inc., service provider to one of Canada’s largest network of independently-owned insurance agencies, has chosen VirtGate to replace their agency management system for Equinox network-member Marketing Centres.

Tim Traill, Director, eBusiness at Equinox Financial, outlined the process that led to the decision by saying: “With input from our member Marketing Centres, we first reviewed all agency management systems on the market and created a short list of five vendors who each presented to a committee comprised of the leaders of Marketing Centres. CoVirt’s VirtGate received 45 out of a total of 50 possible votes from this group.”

Daniel Dessureault, General Manager for Equinox Financial, underscored how VirtGate meets the business needs of Equinox by adding: “We see this as a natural extension to our core business, which is focused on leading edge support for Marketing Centre staff and their Associates. CoVirt shares our vision for an online financial services system that aggregates, processes, analyzes, and reports real time for all users on thousands of daily transactions. VirtGate is the most advanced and complete platform to meet the specific needs of the Canadian life insurance industry, yet it’s easy to use. Financial services knowledge is vital and so it is very helpful that the principals of CoVirt have spent many years in the life insurance and investment industry. Partnering with CoVirt will allow us to clearly demonstrate the power of seamlessly integrated Internet tools for Associate relationship management, eliminating countless hours of rote labour. Going forward, CoVirt’s deployment of new features is rapid and flexible to meet our specific needs. VirtGate gives us the opportunity to both expand our solutions and to continue to focus on our primary mission.”

Tim Fitzpatrick, President of CoVirt Inc. (Canada) said: “Having the Equinox network of Marketing Centres join the rapidly increasing VirtGate family is yet another milestone for CoVirt. The Equinox distribution network is one of the top life insurance distribution alliances in Canada and so a collective decision to select VirtGate by so many well established and respected Managing General Agencies speaks volumes. Once the participating Equinox Marketing Centres are converted by September, we will have approximately 55 VirtGate production sites. When a broad cross section of an industry moves to one system its value is enhanced for manufacturers, producers and suppliers.”

About Equinox Financial:

Equinox Financial Group Inc. is a services organization that brings together financial product suppliers (including AIG Life of Canada, Standard Life, RBC Insurance and Manulife Financial) and member distributors and provides added-value services to both groups. The independently-owned member distributors of Equinox make up a national distribution network operating under the Equinox brand and distributing a range of financial planning products and services. Equinox was established in 1991 and is a wholly-owned subsidiary of The Manufacturers Life Insurance Company.

About CoVirt:

CoVirt supplies VirtGate, a total integrated solution for advisor and policy management, to a rapidly growing list of brokerages freeing them to focus on the fundamental core expertise that drives their success. VirtGate ties as many offices, trading partners and users together as our clients wish with no user fees. VirtGate includes integrated online document management for the paperless office. VirtGate is cost-effective, yet worry-free. Efficiency is increased immediately allowing brokerage organizations to better serve their advisors and customers. All that is needed is a standard web browser and access to the Internet — nothing is installed on the user’s machine nor does the brokerage have to maintain a server. www.CoVirt.com.