September 14, 2005, Baltimore, MA, LIMRA International Group Benefits Conference — Global IQX Inc., a specialist in component-based sales and service solutions for group benefits carriers, announced today that it has been selected by Industrial Alliance (IA), Canada’s fifth largest life & health insurance company. IA will implement Global IQX automation solutions nationwide streamlining sales, underwriting and renewal processes.
“We look forward to working with Industrial Alliance and are very pleased to be a part of the solution that will deliver optimized performance,” said Michael de Waal, President and Founder of Global IQX. “Because the Global IQX Platform will integrate existing Industrial Alliance systems it will leverage the value of those investments.”
“The Global IQX solution will help automate and improve our sales processes,” said Jacques Parent, Vice President, Sales and Underwriting, Industrial Alliance. “We selected this solution because it is flexible and will allow us to improve the cross-functional process of handling a quote. This will enable us to process quotes more efficiently with the objective of achieving higher closing ratios. We also wanted to streamline the workflow between departments once a case is sold.”
“Insurance carriers are starting to more aggressively seek out solutions to help them improve operational efficiencies and deliver better service to customers,” according to Craig Weber, a Senior Analyst with Celent, LLC an independent technology research firm. “In terms of distribution, independent agents have made it abundantly clear that underwriting speed and process support often drive their decisions to place business with one carrier versus another.”
Global IQX delivers highly configurable, permission based, component solutions that meet the specific requirements of the insurance company’s extended relationships including: distribution channels, sales, underwriters, actuarial, marketing, management, IT and other sales cycle participants. Global IQX supports all product lines and all customer segments ranging from individual through large group with multilingual capabilities. Industrial Alliance has selected Global IQX Rating and Quoting, Underwriting, Enrollment, Proposal Generation, Product Configuration, Renewal, Channel Management and Analytics components.
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company that offers a wide range of life and health insurance products, savings and retirement plans, RRSPs, mutual and segregated funds, securities, auto and home insurance, mortgage loans and other financial products and services. The fifth largest life and health insurance company in Canada, Industrial Alliance is at the head of a large financial group — the Industrial Alliance Group — which has operations across Canada. Industrial Alliance insures over 1.7 million Canadians, employs over 2,600 people and manages and administers $30.0 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. Industrial Alliance is among the 100 largest public companies in Canada.
About Global IQX, Inc.
Global IQX, www.globaliqx.com, established in 1999, specializes in configurable, component-based sales and services automation solutions that streamline and optimize business processes for North American group benefits insurance organizations. Offered as a complete suite or individually, these solutions automate rating, underwriting, renewal and enrollment supporting all lines and market segments. Global IQX production proven solutions increase operational efficiency and reduce cost while promoting improved communication and interaction within and across departments. Developed and delivered by a team with group insurance depth and experience, these solutions give business users more control, with less dependence on IT resources. Clients include many of North America’s largest insurance companies.Tags: Global IQX