Industrial Alliance, (about $30 billion in assets) a national Canadian life and health insurance company headquartered in Montreal and Quebec, selected Global IQX's (Ottawa, Ontario) automation solution systems to streamline sales, underwriting and renewal processes. Industrial Alliance sought to simplify its architecture by combining two outdated systems: a mainframe in Montreal and a PC-based system in Toronto.
"We wanted to simplify to one unique system that would allow up to save some dollars on the systems costs and provide a better product on benefits and renewals, " says Jacques Parent, vice president of sales and underwriting.
After conducting an analysis of the products available, Industrial Alliance decided on Global IQX. "Being familiar with Global IQX's systems for underwriting, we decided that they would fit our needs by offering a point of entry for our systems process along with a speedy implementation."
The system that Global IQX is customizing will be Web-based, providing a flexible and efficient way to process quotes and will also speed the employee training process."This will allow us to improve the cross-functional process of handling a quote in an efficient manner," says Parent. "We also will be able to streamline the workflow between departments once a case is sold."
Parent says with the system update should pay for itself in two years.
Industrial Alliance's IT team is currently working on plans to introduce Global IQX to Industrial Alliance's systems. Testing on the product is scheduled to begin in January and Parent says he hopes to have the product in place by April.