Global IQX Update: Fall 2021

10 November 2021 | Global IQX News

Message from the CEO

The employee benefits business is changing, fast!

Concerns about productivity, employee wellbeing, and worker retention during the pandemic have put employee benefits under the microscope.

Benefits providers must be prepared to meet rapidly evolving customer expectations.

In response to these trends, the IQX team has been hard at work developing a rich set of enhancements to the IQX platform, as well as a number of new AI components. To support improved scalability and flexibility for insurers, Global IQX has also designed cloud solutions in partnership with AWS and Microsoft Azure.

It’s important that we never stop thinking about innovation. In September, we held our annual digital transformation conference, attracting 100+ insurance leaders from across North America. Jim Harris, an expert on disruptive innovation, gave the keynote talk on hyper-personalization in employee benefits. Thanks to all who joined, and we hope to see you for the 2022 edition!

We hope you enjoy this update, and we look forward to seeing everyone in person again soon!

Sincerely,
Mike de Waal
President & CEO, Global IQX

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Global IQX a Finalist in Insurance Business Awards

Global IQX was selected as a Finalist for Best Service Provider – Insurtech in the sixth annual Insurance Business Canada Awards, the leading independent awards event for the insurance profession in Canada.

Global IQX reports a marked increase in new insurance carrier clients over the past year. The company attributes its success to the IQX team’s specialization in employee benefits and championing of “sustainable digital transformation”.

Winners of the Insurance Business Canada Awards 2021 will be selected by an independent judging panel of industry experts and then revealed at the celebratory virtual awards show happening November 17-18, 2021. The virtual show will also feature live panel discussions with the finalists.

For the full list of finalists or more event information, visit www.ibawards.ca.

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Global IQX was named a finalist in the category “Best Service Provider – Insurtech”. Winners will be announced at a virtual awards show on November 17th and 18th.

North American Insurance Leaders Assembled for IQX Conference 2021

On September 28th, Global IQX hosted our annual Employee Benefits Conference (virtual edition), engaging 100+ insurance leaders from across North America.

In the first session, Jim Harris, one of North America’s leading thinkers on disruptive innovation, shared some secrets to understanding the current benefits landscape and how digital trends have radically transformed customer expectations in the COVID era.

Global IQX clients assembled after Jim Harris’s keynote address for a special client-exclusive update on the company’s strategic direction. This included an update on Global IQX’s AI-driven roadmap from CEO Mike de Waal, a demonstration of the newest features and enhancements to the IQX Platform, and a technical presentation by Professor Majid Komeili of Carleton University on how Global IQX’s AI works.

Jim Harris gave the keynote presentation at IQX Conference 2021. Harris is a bestselling author and speaker on disruptive innovation.

Global IQX Enables Conversational AI in New Partnership

At InsureTech Connect 2021 in Las Vegas, NV, Global IQX announced a new partnership with SHADE.ai, a provider of conversational AI solutions, to extend its data-driven solutions for insurance companies selling employee benefits.

Driven by artificial intelligence techniques like natural language processing (NLP), SHADE.ai is built exclusively for the insurance industry. The company enables insurers to deliver timely advice and assistance to their customers via a digital assistant.

SHADE.ai will integrate with Global IQX’s Employee Self-service Portal and its own AI Intelligence Suite including employee recommendations for both group and voluntary benefits.

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Roya Bozorgnia, CEO of SHADE.ai (left) and Mike de Waal, CEO of Global IQX, at InsureTech Connect in Las Vegas.

New IQX Features and Enhancements

IQX Business Rules Editor

Business Rules are a crucial for any business. They are used to assert business structure, control the behavior of the business, and describe definitions and constraints that applies to an organization. The IQX Business Rules Editor was created to help businesses design, modify, and manipulate these rules.

The editor provides keyword highlighting, metadata display, auto-completion, and a debug console to help clients build and test their business rules.

IQX Velocity Editor

One of the many features of the IQX Platform is its ability to produce dynamic, branded outputs such as Rating Worksheets. Now with the IQX Velocity Editor, clients can manage these outputs easier. The Velocity Editor features code highlighting, code display, and output preview.

IQX Rating Editor

The core of the IQX Workbench is its unmatched ability to quote and experience rate all employee benefits products and group sizes. Thousands of formulas are fed into the IQX Rating Engine to produce accurate calculations with speed. The IQX Rating Editor was created to allow clients to design and maintain these formulas with ease.

OAuth 2 and OIDC Authentication

The IQX security team has upgraded the platform to support OAuth 2.0 and OIDC Authentication. The OAuth 2.0 framework allows a user to grant third-party websites and applications access to their protected resources but without having to share user’s credentials. OIDC is a thin identify layer on top of OAuth 2.0 that adds login and profile information about who is logged in.

IQX Cloud Rollout

Global IQX’s cloud-based employee benefits sales & underwriting components enable carriers to innovate faster, reduce costs, and meet security requirements.

In addition to continuous optimization of our existing AWS cloud solution, the IQX team is preparing for the upcoming rollout of a Microsoft Azure solution.

Learn more about IQX Cloud

Latest Insights from The Automated Insurer

Subject matter experts at Global IQX have been regularly contributing feature articles to insurance industry publications and our own corporate blog for several years now. To provide a better reading experience and grow our audience, we’ve collected our thought leadership into an easy-to-use content hub, The Automated Insurer.