Permission-based solution improves efficiencies; shortens sales cycles and speeds time to market
October 24, 2005, Ottawa, ON – Global IQX, a specialist in component-based sales and service solutions for group benefits carriers announces the next generation IQX Platform designed to improve efficiencies and increase sales by automating the entire sales process from prospecting through enrollment for the Group Life and Health market. Developed on a new data architectural platform that supports ACORD XML standards for insurance, IQX Platform features an enhanced rules engine and empowers business users in insurance organizations to configure business rules independently, without reliance on IT. By allowing authorized users to view and override business rules, carriers can adapt to marketplace changes more quickly, speeding time to market.
�Channel expectations of service are growing,” says Craig Weber, a Senior Analyst with Celent, LLC an independent technology research firm. �That places a heavy emphasis on solutions that give carriers robust configuration capabilities to meet a wide variety of needs,� Weber says. �And many carriers are finding that by putting control back in the hands of business users, they can react more quickly and efficiently as business needs change.�
New features in IQX Platform include:
An Enhanced component – and permission-based architecture based on scalable J2EE technologies.
A new Rules Engine that separates business rules from application code.
A Case � centric view enabling carriers to manage clients in both a quote and case-centric environment making it easier to track cases and their status.
Data Import/Export a data collection and retrieval tool facilitates and accelerates the exchange of data such as company and plan information, employee census, premium and rate history, on demand, in convenient formats, into and out of IQX components from a variety of sources. With transportable data that can be manipulated and re-imported into the system without error, clients can view and manipulate their data in ways that would be otherwise impossible.
Channel Management allows permission-based access by users across functional departments including producers, sales reps, managers and underwriters. Users have controlled but quick access to relevant data ensuring data security and integrity while delivering improved and streamlined productivity.
�Global IQX is focused on insurance and clearly understands the requirements of Group Benefits carriers,� says Charles Weisbecker, Vice President, Relationship Development, Principal Financial Group. �Their proven platform, rapidly deployed leveraging our existing technology infrastructure, has increased our operational efficiency and is making it easier for brokers and consultants to do business with PFG.�
�This solution is extremely flexible. It improves communication and workflow and provides the empowerment our group benefits carriers require to manage their business more effectively by putting the tools in the hands of authorized business users,� according to Michael de Waal, President, Global IQX. �Using this technology, our customers can enjoy higher conversion rates, reduced maintenance and distribution costs, while accelerating time to market and realizing revenue opportunities. Using Global IQX solutions, our clients have realized increased revenues, typically a 33% increase in personal productivity, as well as a reduction in time-to-market from an average of 90 days to one day. These new enhancements will only increase our value proposition.”
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.