The new release delivers enhancements to all core components and their supporting configuration modules, affecting rating engine optimization, while adding new quoting features.
Atlanta, GA – Sept 23, 2013 – Global IQX Inc. the leading software provider in new business procurement and business process management for the North American Group Life and Health and employee benefits industry, today introduced its latest enhancements to the Global IQX Software Platform.
Platform version 4.5 is the newest version of Global IQX’s scalable, enterprise solution that is highly configurable, permission-based, and meets the specific requirements of its respective audience including distribution channels, sales management, underwriters, actuaries, marketing support, IT and other sales & service constituents.
The platform includes the latest enhancements to the IQX Underwriting Workbench, incorporating key capabilities such as quoting and rating, underwriting management, enrollment, proposal generation, product configuration, renewal management, reporting, Business Rules Management, and workflow. The introduction of Version 4.5 has enhanced the performance and functionality of all of these key features.
“We have taken what has become the platform of choice for some of the world’s largest insurance companies and made it better,” says Mike de Waal, CEO of Global IQX. “Our goal is to give our customers the most powerful and versatile tools possible, so we are constantly working to anticipate their evolving needs and delivering new feature-rich enhancements based upon the ever changing needs of this market.”
Some of these enhancements include: the rating engine has been tuned to increase performance and scalability. An enhanced thread model now allows database entries to be shared across all worker threads to optimize memory and avoid bottlenecks caused by single database sessions. New complexity-based allocation allows worker threads to be allocated based on their impact on the total quote’s complexity. Multiple custom cache strategies are now permitted based on their scope, lifecycle, etc.
There are also new quoting features including:
Flex Choice – or Dual Choice; used when an employer offers a choice to the employees, of plan designs for one product. The employees then choose one plan design.
Quote Compare – web page comparing benefit options and rates between two product options.
Disabled Employees-web page that allows disabled employee information for the quote to be maintained.
Analysis Grouping – web page that allows the grouping of products by calculation group in order to display calculated rates and costs with possibilities to adjust them, all on one page.
There are further enhancements to Rating Formulae, Function Attributes, Function Decorators and many other features. For full descriptions of these enhancements and to learn more about Global IQX’s Platform 4.5 please visit our Platform page.
About Global IQX, Inc.
Global IQX, www.globaliqx.com, established in 1999, is the leading North American provider of configurable, component-based sales, service and product development automation software for the Group Life and Health / Employee Benefits industry. It includes some of the world’s largest insurance companies as clients
Global IQX’s 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.
Contact: Fran Simpson; Global IQX, Inc.; 613.723.8997; [email protected]