14 of Top 25 Insurance Carriers Select iPipeline's iGO Platform.Survey Indicates Solution is Strategic to Growth and Cutting Costs EXTON, Pa. -- iPipeline, the leader in on-demand software See SaaS. that supports marketing, selling, and processing solutions for the nation's top insurance carriers, distributors and producers, today reported that 14 of the nation's top 25 insurance carriers have deployed the iGO Platform as a technology strategic to their growth. Designed to support the life, annuity, LTC LTC abbr. lieutenant colonel , disability, and P&C markets, the iGO Platform centralizes content for easy access and management, allowing carriers, distributors and agents to accelerate the quoting, illustration, application, and issuance process via 100% error-free submissions and straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. . "The complexity of the insurance industry and interplay between carriers, distributors, and agents demands a solution with the power and flexibility to address all constituents' needs. iPipeline's strength stems from our deep experience in the life, annuity, and P&C markets and understanding of agent behavior and selling practices," said Tim Wallace, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , iPipeline. "Our iGO Platform is designed around the way agents work and unparalleled by any other vendor's product in our industry." A recent iPipeline survey indicates each carrier has the potential to save millions of dollars and drive shareholder value by automating labor-intensive processes and motivating top producers. Salient findings from the survey include: * 82% all respondents view iGOFORMS as being strategic or extremely strategic to their businesses. * 40% of all iGOFORMS users reporting savings in excess of $100 per application. Other respondents reported savings of $25 to $100 per application. * 100% of carriers reported reductions in their internal processing from 5 -15 days by implementing straight-through processing. * 100% of carriers stated they would recommend iPipeline's products and services. "iPipeline is about much more than a commitment to innovation. We are focused on transforming the way the insurance industry does business--enabling the value chain to achieve new efficiencies and realize a rapid ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). ," added Wallace. "Surveys are meaningless in the absence of hard facts. The life, annuity and P&C markets produce tens of millions of applications per year. Just do the math--the upside is compelling. In our current economy, we're talking about making a big difference for a lot of carriers. I'm pleased that our solution is having such a positive impact on the way the industry markets, sells and processes insurance for its consumers." About iPipeline iPipeline[TM] leads its industry in providing the next-generation suite of sales distribution software to the insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. markets as an on-demand service. By positively influencing behavior across the value chain through flexible, rules-based technology, iPipeline's channel solutions for carriers, distributors, and agents automate activities for field underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. support, quoting, forms processing, illustrations development, requirements ordering, contracting, and content distribution, enabling the insurance industry to market better, sell more, and process faster. iPipeline provides the process automation and seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. needed to make a sale by aggregating over 125 carriers, 850 distributors, and 400,000 agents in a single, Web-based environment -- the iPipeline Network. The network generated over $3 billion in premiums in 2008. iPipeline's simple, intuitive system Intuitive™ system Cybersurgery A proprietary minimally invasive surgical system which provides 3D visualization and translates the surgeon's hand movements into precise microsurgical movements via 8 mm ports. Cf Cybersurgery. integrates directly with 850 Web sites including the industry's largest banks, broker-dealers and insurance distributors via a Software as a Service (SaaS)-based model. This integrated approach enables insurance companies to automate sales distribution, eliminates point-of-sale mistakes, and streamlines the issuance of insurance policies. With headquarters in Exton, Pennsylvania Exton is a census-designated place (CDP) in West Whiteland Township, Chester County, Pennsylvania, United States. The population was 4,267 at the 2000 census. The Exton Square Mall is located within Exton. Transportation Exton lies at the intersection of the U.S. , iPipeline has offices in Atlanta, Charlotte, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , and Milwaukee. iPipeline, one of the fastest growing, privately-held companies in the US, is a Philadelphia 100 and an Inc. 5000 company. For more information, please visit: http://www.ipipeline.com. |
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