Coronavirus (COVID-19) Update

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

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: YouTubeFacebookTwitter and LinkedIn.

Photo by Marco Bava

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

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

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

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: YouTubeFacebookTwitter and LinkedIn.

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

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

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

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.

Global IQX API Unleashes Wealth of Data for Employee Benefits Insurers

Open integration and data-exchange technologies extend reach of carriers’ core systems

Ottawa, ON – December 11, 2018 – Configurable integration modules using open web-service API (application programming interface) has been published by Global IQX to streamline integration for insurers throughout the employee benefits industry.  The API will significantly enhance integration between the Global IQX Sales and Underwriting Workbench and other core systems and applications.

The latest IQX release also offers a suite of preconfigured “exchanger” modules for integration with CRM, PAS, claims, payroll, archive and third-parties to streamline and automate business processes across heterogeneous systems.

“Our clients can now integrate with existing systems, portals, and insurance exchanges,” said Cristian Marcov, Global IQX technical architect. “Carriers can set up and maintain a simple yet flexible API, integrating systems using JSON or XML to utilize data across their organization.”

The production-proven IQX API pushes/pulls and schedules data through real-time or batch processing. Easily configurable for new and custom-built applications using open REST/SOAP frameworks, when aligned with business strategies, these tools present opportunities to extract value from customer and system data.

“Recent Celent research has highlighted the value of open APIs throughout the technology ecosystem of insurers,” said Tom Scales, head of the firm’s life and health research in the Americas. “It is encouraging to see vendors opening up their technology through published, documented APIs.”

A leading insurance benefits software provider, Global IQX developed the dynamic API to meet user demands for new levels of data management and configurability.

“Group insurance companies are leveraging best-of-breed technology solutions that require quick plug and play solutions with other systems,” Marcov said. “Global IQX has been bringing web services to its clients since 2007. These API and exchanger initiatives will automate this process enabling new partnerships and enhanced solutions for IQX clients and their data.”

Insurtech Is Hot in the Cold North

At inaugural InsurTech North, executives and experts from Canada and U.S. lay out key issues in transformation

The inaugural InsurTech North conference that took place in Gatineau, Quebec, last week brought together leaders from insurance and technology to discuss key issues facing the industry.

Global insurtech investments reached $2 billion in 2017, forcing insurance executives to look at how these investments will affect their organizations. That is what a host of industry leaders discussed at the conference. Issues included the investment landscape and where innovation is happening, integration with incumbents and the challenge regulators face to keep pace with technology.

“State of the Union” panelists agreed it is an exciting time for insurance. C-suite executives have the opportunity to leave valuable legacies if they choose to ask the right questions and act on the answers. A key one: what does your organization need to do to create a significant shift in your business?

Customer expectations, emerging business models, and new lines of business such as cyber insurance and on-demand coverage are driving the need to transform. Artificial intelligence and automation will assist insurers on that journey, but challenges exist around disparate sources of data and the need to create homogeneous pools of data to work from, they said.

The panelists were confident that the steps needed to establish data veracity will come, at which time the market will make huge strides. In the meantime, panelists advised insurers to watch for disruption not just from upcoming insurtechs, which are often collaborative, but from industries outside of insurance.

Guy Fraker, Chief Innovation Officer at Insurance Thought Leadership, highlighted the 100+ investments Jaguar Insurance has made, showing that real disruption often comes from outside the industry. Fraker suggested insurers expand their views when looking at market trends and be prepared to respond quickly.

A startup pitch competition gave five up-and-coming insurtechs the chance to present their companies to a cast of VCs and gain valuable insight from experienced innovation leaders. Conference attendees connected using the Insurtech North Marketplace, an app to schedule and manage networking meetings, take notes on sessions and learn about the speakers and sponsors.

With so much going on in the industry, Insurtech North was an opportunity for meaningful discussion on the complex issues facing insurance. It also provided insurtech startups with a chance to make the right connections and support organizations through the transformation they seek.