"IQX Features and Enhancements - Summer 2020" overlaid on an image of someone working on a computer

Summer 2020 Update: What’s new with IQX?

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Over the past few months, Global IQX offices have been abuzz with excitement as our talented IQXers delivered several purpose-driven AI enhancements to our industry-leading insurance technology platform:

  • AI Recommendation Engine
  • AI Census Scrubber
  • Usability Enhancements
  • Mobile Optimization
  • General Enhancements

The IQX platform is constantly improving, and our commitment to continuous improvement and alignment with our clients’ strategic objectives has enabled us to become the global leader in AI-driven solutions for the group insurance industry today.

Many of our latest enhancements and initiatives have already drawn praise from clients, and further establish our positioning on the leading edge of insurance innovation.

New Feature: AI Recommendation Engine for Insurers

To meet an increasing need for more streamlined underwriting and quoting, Global IQX is launching the most advanced recommendation and predictive analytics engine in the group insurance industry.

Built using a range of complex AI and machine learning techniques, the new Recommendation Engine allows insurers to make quoting recommendations for both new and existing client renewals based on demographic similarities and other data points such as size and industry.

Screenshot of IQX's Quote Setup screen with fields auto-filled by Recommendation Engine

IQX’s new Recommendation Engine auto-populated fields during quote setup.

Launching a Recommendation Engine as complex as this is an accomplishment in the insurance industry, where data is highly sensitive and not publicly available.

“The main challenge for recommendation systems in the group insurance industry is the lack of initial data and the constraints introduced by the Personally Identifiable Information regulations,” says Cristian Marcov, technical architect at IQX and expert in complex web applications.

Advanced artificial intelligence and machine learning algorithms were used to overcome this barrier, allowing our clients to benefit from actionable insights without sharing their data.

“It’s very exciting,” says Junaedur Rahman, an artificial intelligence expert and developer for the initiative, “there’s nothing else like it in the group insurance industry.”

The Recommendation Engine can automate underwriting, decrease the time to assemble a quote, and increase revenues and customer success by recommending the plan design that will be most successful for each carrier based on past success data.

“These new IQX components can greatly improve straight-through processing (STP) during peak periods like renewal periods when a large number of quotes must be processed in a short period of time,” adds Marcov.

AI-powered Census Scrubber Enhancements

IQX’s AI-powered Census Scrubber allows insurers to calculate accurate rates seamlessly without manual intervention or guesswork.

IQX's AI Census Scrubber displayed within an iMac

The IQX Census Scrubber offers automated mapping of data elements and values for imports into any file format. The rules-based Census Scrubber auto-corrects missing or erroneous values during census import using enhanced smart link scrubbing capabilities. Census data is logically assessed for incorrect information and corrected automatically.

One of IQX’s most popular AI-powered features, Census Scrubber recently received various performance and usability enhancements.

General Features and Enhancements

Global IQX commits to continuous enhancement of all existing features, optimizing them for performance, new technologies, user behaviour, and market trends. We are pleased to announce our latest general enhancements:

Usability Enhancements

  • Quick Links: As part of our ongoing commitment to usability optimization, Global IQX introduced a clean Quick Links section in the toolbar for commonly used features, saving users time and effort.
  • User Preferences: The IQX team recently added a new user preferences component, allowing users to adjust their theme, picture, links, and more.

Quoting and Rating Engine

The most powerful rating engine on the market just got better.

  • Integrated Rating Editor: The IQX team introduced a new, web-based integrated rating editor, offering more flexibility than ever before.
  • Performance Improvements: The IQX team implemented efficiencies to speed up table indexing for quicker boot-up times (great for groups of all sizes).
  • More Filtering Options: The latest release includes more filtering options, such as dropdown menu items that can be filtered by situs state or other criteria. This provides our diverse set of clients the flexibility they need to do their jobs.

Powerful Mobile Experience

To help insurers get the best experience out of IQX at the right time and on the right device, our team has committed to continuous improvement across devices. Our latest release includes a redesign of the user interface and layout for better mobile support.

Additional ongoing mobile optimization is planned for the near future.

Illustration depicting a woman with a positive mobile experience

IQX Roadmap

Global IQX is North America’s leading AI-driven group insurance procurement technology platform for new business and renewal underwriting. With several more AI and machine learning initiatives already in development for the rest of 2020, Global IQX will continue to advance our automation and predictive analytics capabilities to align insurers with rapidly evolving customer expectations.

Illustration of a red car on a road successfully driving towards its destination

To learn how these new features will bring value to your insurance organization, request a demo of IQX today.

Request a demo

Our Employees Generously Support Food Banks and Hospital

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Company matches donations

Global IQX employees wanted to give back to their communities during the Covid-19 pandemic. They decided to support both the Ottawa Hospital and local food banks.

Food banks have become a crucial lifeline for people who have lost their jobs and income.

“Giving back to the community is a critical part of our company culture. We can only imagine how scary it would be to not know if you’ll have enough food,” said HR and Operations Director Fran Simpson.

The Ottawa Hospital is saving lives thanks to its dedicated staff.

“During the pandemic frontline medical workers need as much support as possible. They are doing amazing work keeping us safe. Our team wanted to give them a token of our thanks,” said Mike de Waal, Global IQX founder.

IQXer’s have donated more than $7,500 so far, with matching it is $15,000. The funds have been sent to the Oregon Food Bank, Daily Bread Food Bank of Toronto, Ottawa Food Bank, and the Ottawa Hospital.

Coronavirus (COVID-19) Update

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A message to our clients, partners and community:

Following the heightened state of emergency of coronavirus (COVID-19) across the country, I wanted to ensure you that we have resources in place to provide you continued service and support in any type of contingency.

Our business continuity plan is the backbone of this ability. The health and safety of both our employees and our clients are paramount. As such, we have had our staff working remotely for the last two weeks and will continue to do so for the foreseeable future. Keeping our staff healthy and migrating risk so we can continue to provide you support is of the utmost importance during this time.

Warm regards,
Mike de Waal, President & Founder
Global IQX

Ottawa CEO Competes in Sail Race to Help Save Coral Reefs

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Global IQX’s de Waal crews on 600-mile Caribbean sail race promoting the Coral Project

Mike de Waal, president of Global IQX, an insurtech software firm in Ottawa, is crewing on a trimaran competing in the 2020 RORC Caribbean 600 Race. The entry hopes to raise money and awareness for The Coral Project

An avid sailor, de Waal is on the crew of Antoine Rabestem’s Ultim’Emotion 2 captained by Petro Jonker and Rick Warner. They’ve assembled a global all-star team to compete in the race covering 600 miles around 11 Caribbean islands starting February 24.

The Coral Project is a global non-profit committed to protecting coral reefs worldwide. It’s projected that state 90% of the world’s corals will die by 2050 due to climate-related temperature increases. The Coral Project is working to protect and regrow the reefs that over 500 million people worldwide depend on for food, income and coastal protection.

“I’m delighted to be part of such an exciting event while supporting an environmental cause that impacts so many worldwide. As an organization, Global IQX is committed to giving back to our community and neighbours,” de Waal said.

Ottawa-based Global IQX empowers the global benefits and insurance industry with automation, using AI technology to streamline business processes. The company also sponsors local nonprofits, including the Ottawa Food Bank and the Canadian Cancer Society.

About Global IQX

A leading provider of cloud-based and on-premise employee benefits software, Global IQX offers a suite of business configurable modules and microservices that digitize, streamline and automate new-business and renewal processes for employee and voluntary benefits. It covers true group and experience rating for all group and voluntary products from small to large national accounts. The Global IQX Platform uses AI and powerful rule, content and rating engines to enable dynamic proposal and policy creation, seamless enrollment and automated renewals. API and web services allow for integration into third-party systems. Global IQX supports life, health, AD&D, voluntary, worksite, disability, critical illness, vision, and dental insurance. Global IQX serves some of the world’s largest insurance companies.

Web: www.globaliqx.com. Social media: YouTube, Facebook, Twitter and LinkedIn.

Photo by Marco Bava

Top 5 Group and Voluntary Benefits Insurer Selects Global IQX for Digital Transformation

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IQX Platform and AI tools selected as the foundation for digital transformation in insurer’s employee benefits business

Chicago, IL, Jan. 15, 2020 – A Fortune 100 U.S. insurer has chosen Global IQX, a provider of sales and service automation software and artificial intelligence tools to the employee benefits insurance industry, to deliver business process automation for its group benefits division.

The company will use the Global IQX solution to automate quoting, rating, proposal generation and renewals. The software will be fully integrated with the carrier’s policy administration and claims systems.

Global IQX was selected based on its proven track record of delivering business and insurtech solutions to world-class insurance carriers for more than fifteen years. The system expected to be live later this year will deliver a superior digital experience for underwriters, brokers and clients, driving faster turn around times, increased revenue.

“We’re thrilled to be part of this industry-leading insurer’s transformation project,” said Mike de Waal, Global IQX CEO. “Over the last couple of years, we significantly invested in a variety of enhancements including machine learning to support effective digital business transformation.”

The latest version of the software provides a full quote-to-proposal and automated renewal solution for a host of individual, true group and voluntary insurance products while allowing business users to make changes using configuration modules.

About Global IQX

A leading provider of cloud-based and on-premise employee benefits software, Global IQX offers a suite of business configurable modules and microservices that digitize, streamline and automate new-business and renewal processes for employee and voluntary benefits. It covers true group and experience rating for all group and voluntary products from small to large national accounts. The Global IQX Platform uses AI and powerful rule, content and rating engines to enable dynamic proposal and policy creation, seamless enrollment and automated renewals. API and web services allow for integration into third-party systems. Global IQX supports life, health, AD&D, voluntary, worksite, disability, critical illness, vision, and dental insurance. Global IQX serves some of the world’s largest insurance companies.

Top Canadian insurance carrier licences Global IQX Policy Document Creator

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Leading employee benefits insurer to add digital automation generation for all group product documents

Ottawa, Ont., Nov. 4, 2019 – Global IQX, a digital solutions provider for the employee benefits industry, today announced that one of the nation’s largest mutual insurers and a leading provider of employee benefits, has selected the Policy Document Creator (PDC) component to streamline and accelerate contracts, booklets and certificates delivery.

The solution will leverage data from the IQX Sales and Underwriting Workbench after groups are quoted, rated and sold, eliminating data entry for fast consistent straight-through-processing policy document creation. PDC will also leverage a configuration module to create changes when required to further configure documents and provide customized experiences and a higher degree of personalization.

“Our purpose-built employee benefits solutions are designed to support and enhance every touchpoint and allow for an end-to-end digital experience,” said Mike de Waal, Global IQX CEO. “This is our first client to leverage our latest state-of-art component and are we honoured for their continued trust to support their digital transformation.”

The Policy Document Creator is expected to go-live in 45 days.

The latest modular out-of-box software provides a full quote-to-proposal and automated renewal solution for a host of individual, true group and voluntary insurance products while allowing business users to make changes using configuration modules.

About Global IQX

Global IQX offers a suite of business configurable modules and microservices that digitize, streamline and automate new-business and renewal processes for employee and voluntary benefits. It covers true group and experience rating for all group and voluntary products from small to large national accounts. The Global IQX Platform uses AI and powerful rule, content and rating engines to enable dynamic proposal and policy creation, seamless enrollment and automated renewals. API and web services allow for integration into third-party systems. Global IQX supports life, health, AD&D, voluntary, worksite, disability, critical illness, vision, and dental insurance. Global IQX serves some of the world’s largest insurance companies.

Benefits Insurers Leap Forward with AI-Powered Version of Global IQX Software

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AI and workflow enhancements boost sales, underwriting and service

Employee benefits insurers get a quantum leap in efficiency for sales, underwriting and service with the new release of Global IQX’s software incorporating artificial intelligence. Enhancements provide an improved user experience and help insurers eliminate input errors, speed turnaround times and focus underwriting on profitable business.

Upgrades include:

  • AI-powered census scrubbing. The Global IQX Platform now uses AI to correct and supplement census data obtained during quoting. Analysis of large quantities of census data lets the census scrubber learn to intelligently make decisions regarding missing and incorrect data.
  • Automated end-to-end group case workflow. The workflow more efficiently guides the underwriters and sales personnel through the complete quoting process. It supports all quoting processes while eliminating duplicate data entry, promoting data quality and accuracy, and providing the flexibility needed to be competitive. Compliance is ensured via business rules, roles and security, and authorization levels.
  • Dynamic proposal generation. The proposal module automatically generates proposals. Proposal templates are version-controlled to ensure consistent output. Authorized users can customize proposals to meet exceptions. The configuration module gives users complete control over template maintenance.
  • Lightning-fast small- and large-group rating. A powerful multi-threaded rating engine provides the ability to rate large and small groups faster. The configuration module lets actuaries modify formulas, rates and rules themselves.
  • AI quick-quoting boosts sales. The quick-quoting system uses AI to make smart suggestions during the quoting process. By analyzing group attributes, the system creates options to maximize the attractiveness of the offer.
  • Lead, health, risk and wearable data scores. The Global IQX Platform integrates with external systems to acquire lead, health, risk and wearable data scores. Predictive analytics and lead scores further prioritize quotes by the likelihood of actually closing a sale. Health, risk and wearable data are used to assist in underwriting and offer prices and discounts for both group and voluntary products.
  • Automated renewals with the ability to renew by individual clients and block of business, batch or realtime.

“Artificial intelligence is part of the next wave in obtaining radical improvements in insurer efficiency, and it makes great sense to deploy AI in particular in employee benefits sales and underwriting,” said Rob McIsaac, an executive vice president of research and consulting and practice leader for life/annuity/benefits at research and advisory firm Novarica.

Michael J. de Waal, president of Global IQX, added: “The insurance industry is just beginning to leverage the power of AI to streamline and automate business processes and retain and go after profitable business.  We are excited to be at the forefront of digital transformation for the needs of our insurance clients. It’s an important step toward an exciting future.”

About Global IQX

A leading provider of cloud-based and on-premise employee benefits software, Global IQX offers a suite of business configurable modules and microservices that digitize, streamline and automate new-business and renewal processes for employee and voluntary benefits. It covers true group and experience rating for all group and voluntary products from small to large national accounts. The Global IQX Platform uses AI and powerful rule, content and rating engines to enable dynamic proposal and policy creation, seamless enrollment and automated renewals. API and web services allow for integration into third-party systems. Global IQX supports life, health, AD&D, voluntary, worksite, disability, critical illness, vision and dental insurance. Global IQX serves some of the world’s largest insurance companies.

Web: www.globaliqx.com. Social media: YouTube, Facebook, Twitter and LinkedIn.

Global IQX announces employee benefits automation advances for insurers at LIMRA conference Sept. 10-12

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OTTAWA Sept. 4, 2019 – Global IQX, a leader in digital sales and services solutions for group benefits insurers, will be announcing new product innovations at the LIMRA Group & Worksite Benefits Conference next week as a silver sponsor and exhibitor.

This past year has been one of the Global IQX’s most successful as it continues to lead with digital transformation solutions for group and voluntary benefits automation. Global IQX recently reinvested in a multi-million dollar upgrade as well as new digital enhancements for its employee benefits software, which was rolled out this summer.

The annual industry conference is widely attended by executives of group and worksite/voluntary benefits organizations looking to gain insight into industry trends and developments. “Navigating the Future” is the theme of this year’s conference. In line with the theme, Global IQX will be showcasing new features, including new artificial intelligence technologies, automated workflow, and lead, risk and health scores to improve efficiencies for global insurance providers.

“Artificial intelligence is starting to make an impact in group benefits insurance,” said Mike de Waal, president of Global IQX. “The AI features we’re unveiling are an exciting first step in a major evolution. As well as signing two recent clients, we are fortunate to have many long-term clients that work with us as partners in leading digital automation.”

The LIMRA Group & Worksite Benefits Conference will take place in Newport, Rhode Island from September 10 – 12, 2019. Global IQX experts will be available at booth number 5.

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About Global IQX
A leading provider of cloud-based and on-premise employee benefits software. Global IQX offers a suite of business configurable modules and microservices that digitize, streamline and automate the new business and renewal processes for true group, experience rating for all group and voluntary products from small to large national accounts. Known for its Sales and Underwriting Platform, using both AI and powerful rule, content and rating engines enabling dynamic proposal and policy creation, seamless enrollment and automated renewals. API and web services allow for integration into third-party systems. It includes some of the world’s largest insurance companies as clients.

Global IQX Silver Sponsor at GUAA Conference

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The 2019 GUAA Conference is comprised of industry professionals that actively promote the study, analysis, and discussion of all matters relating to the underwriting of group products. It will provide real insight into market developments and dynamics.

Global IQX has been an active participant and thought leader in the group insurance industry for 20 years. We are proud to announce that we will be a Silver Sponsor of the 2019 GUAA Conference. Look for us at the event in Charleston on May 19th – 22nd, we will be stationed in the exhibit area.

We can also be found at the following upcoming events:

  • InsurTech North
  • IQX Client Web Conference
  • IQX User Group Meeting

If you would like additional information about, or you would like to arrange a meeting at any of these events, please contact us.

Leading Group Insurer to Leverage Global IQX Renewal Solution

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IQX automated renewals to be added as part of digital transformation to streamline and support future growth

Toronto, Ont., Jan. 2019 – Global IQX, a digital solutions provider for the employee benefits industry, today announced that an existing client has selected the IQX Automated Underwriting and Renewal (AUR) component to automate its’ renewal processing of all it’s group products.

Automated Underwriting and Renewal will reduce the need for manual intervention. Rules-based processing and AI tools will enable automated re-calculations at policy anniversaries while leveraging data from the claims and admin system. Integrated with IQX Rating and Content engines the process can be as manual or as automated as the insurance company requires. Policies can also be automatically queued for manual review or auto-generate policy renewal packages. After which data is then sent back to the admin system for update.

“We are delighted that our existing clients see the value in our new technologies,” said Mike de Waal, Global IQX CEO. “Automating the renewal process among all product lines was seen as a major touch point for our clients. With our latest technology investments, we are well placed to be the foundation of true digital transformation in the employee benefits industry.”

The latest modular out-of-box software provides a full quote-to-proposal and automated renewal solution for a host of individual, true group and voluntary insurance products while allowing business users to make changes using configuration modules.

About Global IQX

Global IQX offers a suite of business configurable modules and microservices that digitize, streamline and automate new-business and renewal processes for employee and voluntary benefits. It covers true group and experience rating for all group and voluntary products from small to large national accounts. The Global IQX Platform uses AI and powerful rule, content and rating engines to enable dynamic proposal and policy creation, seamless enrollment and automated renewals. API and web services allow for integration into third-party systems. Global IQX supports life, health, AD&D, voluntary, worksite, disability, critical illness, vision, and dental insurance. Global IQX serves some of the world’s largest insurance companies.