ChannelPoint and Andersen Consulting Announce Agreement to Market Internet-Enabled Health Insurance Distribution Solution.Solution Will Transform Health Insurance Distribution Process ChannelPoint(R), Inc. and Andersen Consulting See Accenture. today announced a joint marketing agreement to provide business solutions that will help health insurers and managed care organizations automate To turn a set of manual steps into an operation that goes by itself. See automation. their sales and distribution processes, ultimately enabling these organizations to reduce administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. , improve broker productivity and customer service, and increase revenues and profitability. Under the agreement, Andersen Consulting and ChannelPoint will collaborate to provide integrated solutions applying Internet-enabled software and transaction services to the sale and distribution of health insurance. The solutions will link basic operations such as proposal generation, plan design, rating methodology, application processing, information verification, 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. , enrollment, maintenance and renewal into a single processing environment that can be extended to brokers through an Internet-enabled connection. "Our agreement with Andersen Consulting is central to our strategy to ensure 100% customer satisfaction," said Ken Hollen, President and 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. of ChannelPoint, Inc. "Together, Andersen Consulting and ChannelPoint will enable health insurers and benefits companies reinvent re·in·vent tr.v. re·in·vent·ed, re·in·vent·ing, re·in·vents 1. To make over completely: "She reinvented Indian cooking to fit a Western kitchen and a Western larder" the way their products are bought, sold and serviced." "The solutions offered under this agreement will help create new business capabilities," said Dave Rey, a partner in Andersen Consulting's Health Services health services Managed care The benefits covered under a health contract practice. "The incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. market share, customer service and cost reduction opportunities are so great that health plans must make Ecommerce-based distribution an urgent priority. "By teaming with ChannelPoint, we have the ability to transform a key area of the health insurance industry." The relationship brings togethy implementing the solution at United HealthCare, one of the largest health care organizations in the U.S. About Andersen Consulting Andersen Consulting is a $6.6 billion global management and technology consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a whose mission is to help its clients change to be more successful. The organization works with clients from a wide range of industries to link their people, processes and technologies to their strategies. Andersen Consulting has 59,000 people in 46 countries. Its home page address is http://www.ac.com. About ChannelPoint, Inc. ChannelPoint is the global leader in reinventing how businesses buy, sell and service insurance and benefits products. Based on extensive analysis of industry requirements and best practices, ChannelPoint's e-business solutions enable organizations to grow their businesses by dramatically increasing revenue, profits, market share and customer satisfaction while reducing costs. ChannelPoint offers the world's only integrated solution for streamlining the entire insurance distribution cycle including product design, proposal generation, application processing, rating, underwriting, application installation and maintenance, and renewal processing. ChannelPoint's best-of-class applications are fully Internet-enabled and built on a highly scalable next generation, object-based distributed architecture. ChannelPoint customers include leading insurance firms such as United HealthCare (UNH Unh The symbol for the element unnilhexium. ), and leading Blue Cross/Blue Shield plans such as Regence Blue Cross/Blue Shield. ChannelPoint investors include Andersen Consulting, Capital Z Partners, Intel (INTC INTC Intel (NASDAQ symbol) INTC Intercept INTC Interrupt Controller ), Mohr, Davidow Ventures, Pacific Venture Group and Validus. Additional information about ChannelPoint is available at www.channelpoint.com. Note to Editors: ChannelPoint 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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