ChannelPoint And InsurQuote Complete Merger; ChannelPoint's Internet Technology For Insurance Now Supports Property & Casualty As Well As Life And Health Products.Business and Health Editors COLORADO SPRINGS Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. , Colo.--(BW HealthWire)--April 10, 2000 ChannelPoint, Inc., a leading provider of Internet-based, business-to-business solutions that enable e-commerce in the global insurance industry, completed today its previously announced acquisition of InsurQuote, Systems, Inc. The combined company, called ChannelPoint, Inc., has approximately 1,000 employees based in 11 offices across the U.S. The acquisition provides ChannelPoint with the ability to expand its e-commerce technology platform beyond life and health insurance to include automobile, home, and commercial insurance products. About ChannelPoint, Inc. ChannelPoint is a leading provider of Internet-based, business-to-business solutions that enable e-commerce in the approximately $2.8 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. global insurance industry. The Company's software applications and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. offerings are designed to meet the evolving needs of carriers, distributors and buyers of insurance. ChannelPoint's technologies leverage the power of the Internet to streamline and automate To turn a set of manual steps into an operation that goes by itself. See automation. the insurance distribution process to facilitate end-to-end transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. . The Company's proprietary exchange platform technology facilitates the creation of e-markets that bring together buyers and sellers of insurance products. ChannelPoint is headquartered in Colorado Springs, Colorado The City of Colorado Springs is the second most populous city (after Denver) in the state of Colorado and the 48th most populous city in the United States.[4] The city is the county seat of El Paso County. . For more information, visit www.channelpoint.com. Note to editors: ChannelPoint, ChannelPoint Commerce and ChannelPoint Insure are trademarks of ChannelPoint, Inc. All other product and company names mentioned herein are the property of their respective owners and are mentioned for identification purposes only. |
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