Dominion Dental Services Joins the ChannelPoint Internet Exchange; E-Commerce Enables Dominion to Create Comprehensive Selling Environment for Brokers Via the Web.NEW YORK--(BW HealthWire)--ONLINE INSURANCE SUMMIT-- Sept. 16, 1999--ChannelPoint, Inc., the world's first Internet exchange See IXP and NAP. provider for insurance, today announced that Dominion Dental Services, Inc., a private dental benefit plan for groups, individuals and associations in Virginia, Maryland, Pennsylvania, Delaware, New Jersey Delaware, New Jersey could refer to:
Dominion Dental will offer its 2000X and 300-series dental programs, ranging from individual coverage to small group and large group plans through the ChannelPoint Commerce Internet exchange. In total, the plans available online will represent approximately 120,000 Dominion Dental members. With the tools and information available at www.channelpoint.com, insurance brokers selling Dominion Dental programs will be able to use the Internet to specify benefit configurations with co-payment levels, determine deductibles and other factors while eliminating many of the paper-based, and time-consuming, processes normally involved in selling dental insurance Dental insurance is insurance designed to pay the costs associated with dental care. Dental insurance pays a portion of the bills from dentists, hospitals, and other providers of dental services. . "Insurance brokers enabled with an e-commerce solution can sell dental benefit programs faster and more efficiently," said Mitch McGlynn, 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 Dominion Dental. "The ChannelPoint Internet exchange provides Dominion Dental with an business-to-business presence online that will redefine the way our wide range of dental programs are sold and supported." "The Internet is quickly emerging as the best way for the insurance industry to replace paper-based systems and gain control over the $200 billion it spends annually on distribution costs distribution costs distribute npl → Vertriebskosten pl ," said Jeff Bork, senior vice president of worldwide marketing for ChannelPoint, Inc. "By providing an entry point to e-commerce, Dominion Dental can open new communication channels that link insurance professionals to customers." ChannelPoint Commerce is the first business-to-business Internet exchange exclusively focused on insurance and benefits distribution. It enables carriers, brokers and financial institutions to participate in electronic marketplaces (e-markets) that will make it possible to market, sell, shop for and buy insurance products on the Web. ChannelPoint Commerce Broker is an advanced e-market enabled by the ChannelPoint Commerce exchange and designed specifically for brokers and agents to sell insurance and benefits products on the Web. Unlike simple, online referral services and product catalogs, ChannelPoint Commerce Broker is a total solution for consolidating carrier product and pricing information, managing the business rules associated with selling those products, and providing a comprehensive insurance distribution environment on the Internet. About Dominion Dominion Dental Services, Inc., headquartered in Alexandria, VA, serves the Mid-Atlantic region, including the states of Pennsylvania, New Jersey, Delaware, Maryland, Virginia and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Dominion offers HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there , and Traditional Indemnity dental benefits to employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. , individuals and medical plans. For more information about Dominion Dental Services visit http://www.DominionDental.com. About ChannelPoint, Inc. ChannelPoint is a global leader in reinventing how businesses buy, sell and service insurance and benefits products via the Internet. Leading insurance companies, brokerages and financial institutions use ChannelPoint's `straight-through processing' solutions to maximize sales and efficiency by streamlining their entire distribution cycle. The ChannelPoint Commerce Internet exchange enables complete web-based marketing, buying and selling for businesses and consumers. The ChannelPoint Insure software suite automates carrier and broker activities including proposals, rating, 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. and renewals. ChannelPoint is headquartered in 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. For more information, visit http://www.channelpoint.com. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that may involve known and unknown risks, uncertainties and other factors that may cause actual results and performance to be materially different from any future results or performance suggested by these statements. Note to editors: ChannelPoint , ChannelPoint Commerce, ChannelPoint Commerce Broker 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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