ChannelPoint Enables the Addition of Two New Products to Popular Online Sales Lineup for Blue Cross & Blue Shield United of Wisconsin.Business Editors & Health/Medical Writers WESTMINSTER, Colo.--(BW HealthWire)--June 14, 2001 ChannelPoint: Medicare Supplemental and Temporary Coverage Plans Now Available Online ChannelPoint, Inc., a leading provider of business-to-business, e-commerce solutions for 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 and a leading technology solutions provider in the U.S. health insurance market, today announced that Blue Cross & Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. United of Wisconsin has added Value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
Blue Cross & Blue Shield United of Wisconsin, a subsidiary of Cobalt Corporation, uses ChannelPoint's Health Suite technology to power their Internet-based sales initiatives for individual and small group medical products. "We're excited to assist Blue Cross & Blue Shield United of Wisconsin in further enhancing their electronic customer acquisition capabilities," said Jess jesse, jess a leather strap placed around each shank of a hawk used for hunting, for the attachment of a leash. Parks, Vice President of Health and Ancillary Subordinate; aiding. A legal proceeding that is not the primary dispute but which aids the judgment rendered in or the outcome of the main action. A descriptive term that denotes a legal claim, the existence of which is dependent upon or reasonably linked to a main claim. Markets at ChannelPoint. "BCBSUW is rapidly e-enabling its sales processes A sales process is a systematic approach for performing product or service sales. The reasons for having a sales process include seller and buyer risk management, achieving standardized customer interaction in sales and scalable revenue generation. for individual products; our Internet distribution technology gives them significant competitive advantage with end-to-end processing for new business sales." "More individuals today are connected to the Internet, including people over the age of 65," said Cathy Harvey, Cobalt Corporation's Senior Vice President of Marketing. "Offering our products online, including Value Plus and TempPlan, saves people a lot of time and hassle Hassle () is a location in Närke, Sweden, where a Celtic treasure was found in 1936. It comprises a large bronze cauldron which contained two Bronze Age swords of the Hallstatt type, a pommel of bronze, two bronze buckets with because the online application process cuts almost two weeks off of the time that it would normally take for a paper application." Value Plus is one of three insurance products for individuals, along with the Personal Choice plan and TempPlan, that ChannelPoint is helping Blue Cross & Blue Shield United of Wisconsin to offer on the bluecrosswisconsin.com site. Keith Bell, Blue Cross & Blue Shield United of Wisconsin's Internet Team Manager, said there has been a tremendous response to the online products since going live on the ChannelPoint technology with the first individual product in February 2001. "The online sales of our Personal Choice product makes up about 20-25% of Blue Cross' total sales for that individual product," said Bell. "Our Temp Plan has also received a good response, and we hope for and expect the same with the Value Plus plan." ChannelPoint Health Suite, developed over the past four years, is a technology infrastructure that enables health carrier clients to rapidly implement their electronic customer acquisition initiatives. The technology supports carrier deployment and integration of multiple e-business application modules in multiple channels, using a single, carrier-based e-commerce infrastructure. Blue Cross & Blue Shield United of Wisconsin now uses ChannelPoint's Health Suite to support the following modules for e-distribution for both small groups and individuals: -- Real-time Internet-based quotes and proposals -- Group application and enrollment -- Individual application and enrollment -- Convenient, online payment information transmission -- Web-based authorizations -- Direct transport of data directly to Wisconsin's data center About ChannelPoint, Inc. ChannelPoint provides Internet-based, business-to-business solutions that enable e-commerce for carriers, distributors and customers in the $2.8 trillion global insurance industry. The company provides solutions and expertise focused on delivering value in the Life, Property & Casualty, and Health Insurance lines of business. ChannelPoint provides technology and services for more than 500 carriers and 60,000 agents and brokers, and powers leading insurance portals. 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 technology enables the creation of e-markets that bring together buyers and sellers of insurance products. ChannelPoint is headquartered in Westminster, Colo. For more information, visit www.channelpoint.com. About Blue Cross & Blue Shield United of Wisconsin Blue Cross & Blue Shield United of Wisconsin, a subsidiary of Cobalt Corporation, is the state's largest health insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. . Headquartered in Milwaukee, the company offers a flexible product portfolio with a broad range of options for small, medium and large groups, as well as individual plans for people who don't have access to group coverage. The Blue Cross Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. is www.bluecrosswisconsin.com. |
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