Global IQX signs deal with the Canada Life Assurance Company
Canada Life small group benefits products to be added to ConnectInsure online exchange for insurance professionals
Ottawa, Ontario — December 3, 2002
Global IQX Inc., developer of the ConnectInsure Web-based quoting service that enables insurance brokers and consultants to conduct online quotations and enrolment transactions, today announced a partnership with the Canada Life Assurance Company.
The deal will see Rewards, Canada Life’s small group benefits product, made available through the ConnectInsure Web site at www.connectinsure.com.
“We are extremely pleased to add Canada Life to our list of partners,” said Michael de Waal, president and founder of Global IQX. “Canada Life is a very strong company, with a share of nearly seven per cent of the country’s group insurance market.”
“The solid support from Canada Life validates the high level of success that we’ve enjoyed with both ConnectInsure and the IQX SEMCI Engine.”
Canada Life is one of the largest, most profitable insurance companies in Canada. With over six million customers, Canada Life provides a broad range of insurance and investment products to individuals and groups.
“We are pleased to partner with Global IQX in offering Canada Life small group benefits products over the ConnectInsure Web portal,” said Joseph Ricciuti, Vice President, Group Business Development & Marketing, Canada Life. “IQX technology has a proven track record in boosting online sales while reducing costs, which we expect will significantly increase our presence in the Canadian small group benefits market.”
Canada Life is the seventh Canadian insurance carrier to partner with Global IQX in just over a year. Global IQX has also formed partnerships with the Liberty Health, Empire Life Insurance Company, Desjardins Financial Security, Manulife Financial, Green Shield Canada and the Clarica Life Insurance Company. Product offerings are carrier specific, and include both individual and group insurance products.
Currently, nearly 1,500 licensed insurance brokers and consultants in Canada are registered with ConnectInsure, a Web-based application powered by the IQX Platform. Available free of charge, ConnectInsure provides plan advisors, brokers and other certified benefit planners access to an instant, insurance quoting service online. Traditionally, benefit advisors and brokers have needed four to six weeks to gather the detailed information for a client quote and presentation. ConnectInsure delivers all the same information in a few minutes.
The Canada Life Assurance Company, Canada’s first domestic life insurance company founded in 1847, has total assets under administration in excess of $65 billion. Headquartered in Toronto, the Company operates in Canada, the United States, the Republic of Ireland, the United Kingdom, Brazil, Germany, Hong Kong, Bermuda, and the Caribbean. For more information about Canada Life, please visit www.canadalife.ca.
About Global IQX, Inc.
Global IQX, www.globaliqx.com, established in 1999, specializes in configurable, component-based sales and services automation solutions that streamline and optimize business processes for North American group benefits insurance organizations. Offered as a complete suite or individually, these solutions automate rating, underwriting, renewal and enrollment supporting all lines and market segments. Global IQX 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. Clients include many of North America’s largest insurance companies.