14 of Top 25 Insurance Carriers Select iPipeline’s iGO Platform

Business Editors

EXTON, Pa.--(BUSINESS WIRE)--January 28, 2009--iPipeline, the leader in on-demand software that supports marketing, selling, and processing solutions for the nation’s top insurance carriers, distributors and producers, today reported that 14 of the nation’s top 25 insurance carriers have deployed the iGO Platform as a technology strategic to their growth. Designed to support the life, annuity, LTC, disability, and P&C markets, the iGO Platform centralizes content for easy access and management, allowing carriers, distributors and agents to accelerate the quoting, illustration, application, and issuance process via 100% error-free submissions and straight-through processing.

“The complexity of the insurance industry and interplay between carriers, distributors, and agents demands a solution with the power and flexibility to address all constituents’ needs. iPipeline’s strength stems from our deep experience in the life, annuity, and P&C markets and understanding of agent behavior and selling practices,” said Tim Wallace, CEO, iPipeline. “Our iGO Platform is designed around the way agents work and unparalleled by any other vendor’s product in our industry.”

A recent iPipeline survey indicates each carrier has the potential to save millions of dollars and drive shareholder value by automating labor-intensive processes and motivating top producers. Salient findings from the survey include:

82% all respondents view iGOFORMS as being strategic or extremely strategic to their businesses.
40% of all iGOFORMS users reporting savings in excess of $100 per application. Other respondents reported savings of $25 to $100 per application.
100% of carriers reported reductions in their internal processing from 5 -15 days by implementing straight-through processing.
100% of carriers stated they would recommend iPipeline’s products and services.

“iPipeline is about much more than a commitment to innovation. We are focused on transforming the way the insurance industry does business—enabling the value chain to achieve new efficiencies and realize a rapid ROI,” added Wallace. “Surveys are meaningless in the absence of hard facts. The life, annuity and P&C markets produce tens of millions of applications per year. Just do the math—the upside is compelling. In our current economy, we’re talking about making a big difference for a lot of carriers. I’m pleased that our solution is having such a positive impact on the way the industry markets, sells and processes insurance for its consumers.”

About iPipeline

iPipeline™ leads its industry in providing the next-generation suite of sales distribution software to the insurance and financial services markets as an on-demand service. By positively influencing behavior across the value chain through flexible, rules-based technology, iPipeline's channel solutions for carriers, distributors, and agents automate activities for field underwriting support, quoting, forms processing, illustrations development, requirements ordering, contracting, and content distribution, enabling the insurance industry to market better, sell more, and process faster. iPipeline provides the process automation and seamless integration needed to make a sale by aggregating over 125 carriers, 850 distributors, and 400,000 agents in a single, Web-based environment — the iPipeline Network. The network generated over $3 billion in premiums in 2008.

iPipeline's simple, intuitive system integrates directly with 850 Web sites including the industry's largest banks, broker-dealers and insurance distributors via a Software as a Service (SaaS)-based model. This integrated approach enables insurance companies to automate sales distribution, eliminates point-of-sale mistakes, and streamlines the issuance of insurance policies. With headquarters in Exton, Pennsylvania, iPipeline has offices in Atlanta, Charlotte, Los Angeles, and Milwaukee.

iPipeline, one of the fastest growing, privately-held companies in the US, is a Philadelphia 100 and an Inc. 5000 company. For more information, please visit: http://www.ipipeline.com.