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.