Global IQX teams with Imperial Life to offer benefits products via real-time insurance quoting service
Global IQX expands benefit product offerings on ConnectInsure and Finactive Web sites
Ottawa, Ontario — October 4, 2001
Global IQX Inc., developer of the Insurance Quotation Exchange Engine (IQX™) that enables insurance companies to conduct online quotations and enrollment transactions, today announced an agreement with the Imperial Life Assurance Company of Canada, a subsidiary of the Desjardins-Laurentian Financial Corporation.
The service agreement will enable Imperial Life’s SOLO and Work Benefits Insurance products to be powered on both the ConnectInsure and Finactive Web sites. ConnectInsure is Global IQX’s Web-based service that provides plan advisors, brokers and other certified benefit planners the access to an instant, free quoting service, available 24 hours a day, seven days a week. ConnectInsure.com will enable Laurentian Financial Services brokers, representatives and managing general agents from Imperial Life to access online instant quotes, reducing the time to obtain quotations.
“The IQX platform will allow Imperial Life’s agents and brokers to get quotes for small businesses faster and easier,” said Taylor Train, vice president, sales strategies, training and technical support, Imperial Life Assurance Company of Canada. “For us, it demonstrates another step in simplifying the way we’re doing business with our brokers.”
“We’re pleased to partner with a company that has such a strong mandate for online services,” said Michael de Waal, president and founder of Global IQX. “Adding Imperial Life’s benefits products to the ConnectInsure site means an expansion and strengthening of our offerings to the insurance industry.”
Finactive, the virtual distributor of Imperial Life’s benefit products, will also be able to offer small businesses and self-employed their group insurance plan powered by the IQX engine, a secure interface quotation system on the Internet.
“The Finactive and ConnectInsure Web sites will improve Imperial Life’s product accessibility across Canada,” said Constance Lemieux, senior vice president, technology and ebusiness, Imperial Life Assurance Company of Canada. “Global IQX’s Internet technology will shorten the acquisition process for brokers, employers of small businesses and self-employed clients. Imperial Life’s SOLO products are well-placed for those who are self-employed, on contract, or working as established business owners.”
Imperial Life is the fourth major Canadian insurance carrier to partner with Global IQX. Since March, the Clarica Life Insurance Company, Green Shield Canada and Manulife Financial have also partnered with Global IQX.
For over 100 years, the Imperial Life Assurance Company of Canada has been offering an array of individual and group health insurance, annuity and investment fund products, throughout Canada, with the exception of Quebec. Imperial Life has about 500,000 policyholders.
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.