Global IQX Recognized as “Dominant Provider” of Illustrations Systems
Novarica recognizes insurtech Global IQX as a dominant provider of illustrations solutions for insurers in their 2021 Market Navigator.
Ottawa, Ont., May 2021 – Global IQX, a digital solutions provider for the employee benefits industry, was recognized by Novarica, a research and strategic advisory firm, as a “dominant provider” of illustrations systems for U.S. life insurers in their recent Market Navigator report. Global IQX was also listed as a dominant provider of new business & underwriting systems by Novarica in late 2020.
IQX Proposal, Global IQX’s illustrations solution, was evaluated alongside thirteen other solutions and was one of only five to be designated as a dominant provider. Global IQX is the only company recognized as a dominant provider that specializes exclusively in group and voluntary benefits.
IQX Proposal: Generate Illustrations and Proposals within IQX Workbench
IQX Proposal, powered by the IQX Content Engine, enables carriers and distribution partners to generate dynamic, branded proposals, illustrations, and renewal letters from within the IQX Sales & Underwriting Workbench.
Driven by templates, IQX Proposal is capable of generating real-time illustrations and proposals in common formats such as PDF, Excel and HTML, turning quote results into fully marketable proposals in seconds. IQX Proposal also has the ability for a business user to change the template instance whenever documents are required.
The flexibility and increased speed provided by IQX Proposal enables clients to increase total proposal capacity by over 600%.
Global IQX Twice Listed as “Dominant Provider”
While it is offered as a standalone solution, IQX Proposal is generally embedded within the IQX Workbench, a platform that covers the entire fulfillment lifecycle for group and voluntary benefits. For IQX Workbench, Global IQX was also recognized as a “dominant provider” of new business and underwriting systems by Novarica.
IQX Workbench combines artificial intelligence with rule, content and rating engines to enable dynamic proposal and policy creation and automate renewals, among other key benefits that save time and cut costs for group insurers. IQX Workbench supports all product lines and case size segments ranging from individual voluntary worksite benefits to groups of 300,000+ employees with complex multi-division/class structures. The power and flexibility of being able to experience rate any group product for any group size make Global IQX a top choice for group insurance transformation.
In the last three years, Global IQX has directed its R&D investments towards artificial intelligence initiatives. Global IQX has already launched two such AI initiatives (the AI Census Scrubber and New Plan Design Recommender), with several more AI components planned for release in 2021 and 2022.
About Global IQX
Global IQX, now part of Majesco, is North America’s leading AI-driven group insurance procurement technology platform for new business and renewal underwriting. Global IQX offers a suite of business-configurable modules and microservices that digitize, streamline, and automate the new business and renewal processes for the true group, experience rating for all groups, and voluntary products. Some of the world’s largest insurance companies (including U.S. Fortune 500) continue to benefit from the scalability, security, and configurability of our platform, the IQX Workbench. For more information visit www.majesco.com.