LSV Enables Straight-Through Processing Goals with Global IQX Solution

LSV companies USAble Life and Florida Combined Life Insurance Company will deploy Global IQX’s web-based platform will license Global IQX’s rating and quoting engine, proposal generation, product configuration and report components.

(Detail of Arkansas State Capitol in Little Rock, home to LSV. Photo credit: Stuart Seeger.)

Life and Specialty Ventures (LSV, Little Rock, Ark.), a holding company that owns and operates USAble Life and Florida Combined Life Insurance Company, has selected Global IQX s (Ottawa, Ontario) Sales and Underwriting Workbench for underwriting, rating illustrations and reports.

USAble Life and Florida Combined Life Insurance Company (about $55 billion of insurance in force combined), will deploy Global IQX’s web-based platform. LSV will license Global IQX’s rating and quoting engine, proposal generation, product configuration and report components. LSV companies provide ancillary insurance products, including dental, life, disability and worksite, to groups and individuals throughout the United States.

Increased Market Agility

“We were impressed with Global IQX’s software. Once successfully implemented, it will give us increased market agility and allow us to streamline the sales and underwriting process with quicker turnaround times,” comments Edward A. Murphy, executive VP, LSV. “We look forward to its implementation as we continue to grow our business and provide increased support to our business partners.”

Through the licensing of Global IQX’s solution, LSV will be better able to fulfill its commitment to straight-through processing and efficiency, while providing faster response and support to its partners, according to Mike de Waal, CEO, Global IQX.  “We look forward to a successful partnership with LSV as they gain market advantages using our technology,” he comments.

 

 

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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