|By Business Wire||
|May 15, 2014 05:54 PM EDT||
InsMark, Inc., the industry leader in providing supplemental life insurance illustrations today announced a strategic partnership with Ebix, Inc., a leading international supplier of On-Demand software and E-commerce services to the insurance industry.
Through its partnership with Ebix, InsMark’s innovative marketing illustration systems will be seamlessly distributed to EbixExchange (Winflex) and Ebix CRM customers for a low monthly fee. David Grant, InsMark’s Senior Vice President – Sales, says, “For some time, we have considered developing a relationship with a company that has the reach of Ebix. With this partnership, InsMark’s marketing illustration systems will help fill the gap between prospecting, data collection, presentation and closing the sale.”
EbixExchange currently supports a broad range of insurance agencies, brokerage and clearing firms, and operations centers at over 100 of the leading insurance carriers and their affiliates. In use by many of the top 20 Fortune 500® Life companies and more than 100,000 professionals worldwide, SmartOffice solutions are now considered the industry standard for agency management, practice management, and enterprise CRM.
“We are extremely pleased to partner with this highly respected industry leader as we expand the Ebix service offering to meet our customers’ evolving needs,” Ebix Senior Vice President – Global Sales, Dan Delity said. He added, “Any insurance producer using Ebix’s WinFlex, Vital Suite and/or SmartOffice solutions can now use InsMark’s products to present and close all their cases -- from basic individual to key business to estate and charitable planning sales for a low monthly fee.”
David Grant added, “EbixExchange and Ebix CRM customers will benefit from the deep expertise and strong synergies between our two organizations.”
InsMark’s product line utilizes a unique approach to illustrating all forms of cash value life insurance. Illustration design requires the coordination of three disciplines: actuarial, legal and creative presentation, and no system is good at mastering all three. InsMark deals solely with creative presentations -- leaving actuarial considerations to the carrier. To do this, InsMark developed its proprietary specifications (Button File) that each licensed insurance company uses to “link” data from its basic illustration systems. With this approach, the field producer can present InsMark illustrations as “top page” concept proposals or, as the MDRT has calls them, “diet” proposals. Mathematical and legal compliance is covered by requiring that the insurance company’s illustrations must accompany the InsMark presentation. To this end, InsMark was the driving force behind the NAIC’s acceptance of “supplemental illustrations” as a special presentation category. Although client companies often request customization of InsMark output for compliance purposes, separating the creative presentation from the actuarial number crunching gives InsMark -- and its customers -- a distinct advantage in software development. Typically, such development requires an extensive commitment of time and dollars due to the actuarial demands of the project. This leaves little time or resources to develop the artistic portion of the presentation. InsMark’s linking technology allows its research and development staff to concentrate on the artistic aspects of the presentation. Proving that this technique works, InsMark is the only illustration system consistently asked for by name by insurance producers in the field.
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.
With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. Ebix's focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute's Capability Maturity Model (CMM). With a recent ISO 27001-security certification, the Company also has an ISO 9001:27001 certification for both its development and BPO units in India. For more information, visit the Company's website at www.ebix.com.