Global IQX Inc., an employee benefits software provider, announced that The Co-operators Life Insurance Company has selected its platform for underwriting, rating, illustrations and reports for its employee benefits and worksite products.
The Co-operators will also configure and utilize Global IQX's Sales and Underwriting Workbench. Global IQX’s components are intended to enhance The Co-operators’ new business acquisition and retention processes through improved efficiency and customer service.
“We were impressed with the way Global IQX’s software is designed to allow it to be easily configured and integrated with other solutions for a streamlined insurance experience,” said Conor Quinn, VP group benefits insurance of The Co-operators. “With it, we will be able to expedite sales and underwriting turnaround times and enhance our business and technology capabilities.”
Craig Weber, CEO of research and advisory firm Celent, said, “Increasing market agility and driving down costs are high on the list for most Group carriers. Tools like this, aimed at facilitating complex underwriting scenarios and enhancing administrative capabilities, are of immense promise and important to remaining competitive.”
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