iPipeline Acquires AgencyWorks and Adds Agency Management Services

iPipeline Acquires AgencyWorks and Adds Agency Management Services

Leading Software as a Service Provider Is Positioned to Deliver Life Insurance Industry’s Most Comprehensive Solutions Platform to Drive Straight-Through Processing

EXTON, Pa.--(BUSINESS WIRE)-- 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 announced the acquisition of Utah-based AgencyWorks™. AgencyWorks is the market leader providing agency management systems that maximize profitability for the brokerage industry with over 50 carriers and 350 distributors using the system to process in excess of 1 million insurance applications annually.

“The acquisition of AgencyWorks is the next step in our vision to create the most comprehensive and integrated solution available to the life insurance and annuity industry for straight-through processing. The addition of AgencyWorks to our existing services platform extends our holistic vision of how carriers, distributors and agents can achieve new efficiencies and returns from a fully integrated platform,” said Tim Wallace, CEO, iPipeline. “By combining iPipeline and AgencyWorks, we have increased our customer base to over 160 leading insurance companies and over 1,200 BGAs, banks and broker-dealers to create the largest insurance network in the industry for more than 600,000 producers. iPipeline’s product information, quoting, and illustration systems combined with iGO e-App™ and AgencyWorks CRM and AMS platforms provide the ‘killer’ solution to market, sell and process insurance faster. We are well on our way to revolutionizing how the industry works with the strategic acquisition of AgencyWorks.”

AgencyWorks’ agency management services are designed to maximize profitability, sales growth and administrative efficiency for life insurance agencies, carriers, and producers. “By teaming up with iPipeline, we will now be able to ensure seamless integration from the producer through the distributor to the carrier and provide better real time information on the life cycle of the insurance sale,” said Andrea Evans, President of AgencyWorks. “We are excited about our ability to increase the value proposition to the industry by providing one platform via one service that includes CRM (lead and campaign management), quoting and illustrations, iGO e-app, AMS, and e-Policy for the carrier, distributor, and producer.”

AgencyWorks will continue to operate as a standalone business unit of iPipeline based in Salt Lake City, Utah, with all AgencyWorks’ employees being offered positions by the iPipeline team. iPipeline will be aggressively investing in AgencyWorks solutions throughout 2010 to address the evolving needs of the insurance industry.

To learn how you can implement use of iPipeline’s cohesive platform to more effectively market, sell and process insurance, contact [email protected] or call 1-800-758-0824, option 2.

About iPipeline

iPipeline leads its industry in providing the next-generation suite of sales distribution software as a “clean technology” to the insurance and financial services markets through its on-demand service. iPipeline's channel solutions for carriers, distributors, and producers automate activities for quoting, forms processing, illustrations development, requirements ordering, contracting, and content distribution, enabling the insurance industry to market, sell, and process faster.

iPipeline has offices in Atlanta, Charlotte, Hartford, Los Angeles, Milwaukee, and Salt Lake City. Visit us at www.ipipeline.com.

About AgencyWorks

AgencyWorks is a leading-edge Internet-based technology company whose focus is providing comprehensive solutions to maximize profitability, sales growth, and administrative efficiency for agencies, carriers, and brokers in the life insurance industry. AgencyWorks is the first company to provide access to all components of a life agency management system virtually via the Internet. AgencyWorks’ offerings include Agency Integrator, Agency Gear, InsureSocket Brokerage, I-Relay and Broker Gear. For more information, please visit www.agencyworks.com.

iPipeline

Ashley Gerson

Marketing

484-348-6555, ext. 462

Source: iPipeline

Copyright Business Wire 2009 Leading Software as a Service Provider Is Positioned to Deliver Life Insurance Industry's Most Comprehensive Solutions Platform to Drive Straight-Through Processing. 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 announced the acquisition of Utah-based AgencyWorks.