Vendors
日本語

Global IQX - Employee Benefits Software

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.

Overview

Global IQX is a dominant provider of AI-driven employee benefits sales and underwriting solutions, helping insurers write more business in less time.

Global IQX offers a suite of business-configurable modules and microservices that digitize, streamline, and automate new business and renewal processes for group and voluntary benefits. The IQX Sales & Underwriting Workbench streamlines quoting for all benefits products sold in North America and experience rate small groups up to 100,000+ lives with dozens of divisions and classes. Global IQX serves some of the world’s largest insurance companies as clients.

Global IQX provides cloud-based components that cover the entire new business and renewal cycle for employee benefits. From data intake to quoting and rating, proposal and document generation, enrollment, and automated renewals.

Rule, content and rating engines enable seamless data exchange through all participants improving efficiency across the organization using rule and AI-based workflows and recommendations.

The IQX Intelligence Suite consists of AI-powered predictive analytics and business intelligence tools that automate census data scrubbing, recommend optimal plan designs for each group, and optimal workload distribution across underwriting teams.

Quoting & Rating · Onboarding & Enrollment · Proposal & Document Generation · Automated Underwriting & Renewal · Workflow · Broker Portals · Employee Self-service




Key Features

IQX Sales and Underwriting Workbench

Quoting and Rating
Proposal
Renewal
Workflow
Import/Export
Analytics
Smart Census Link

IQX Intelligence Suite

AI Census Scrubber
New Plan Design Recommender (Predictive Analytics)
Workload Recommender (Predictive Analytics)

IQX Productivity Suite

Automated Renewal
Quick Quote & Express Quote
Broker Portal
Block of Business

IQX Enrollment Suite

Onboarding
Employee Self-service Portal
Individual Medical Underwriting
Policy Document Creator

Actuarial Tools

Modeling
Rating Editor
Rate Manager
Formula Manager

IQX Configuration

Channel Workflow Manager
Business Rules Manager
Rate Manager
Formula Manager
Proposal Manager
Document Manager

IQX Platform Features

Scalable Rating Engine
Large Product Library
Workflow
Business Rules Automation

IQX Integration Tools

API
IQX Exchanger (pre-configured integrations with CRM, PAS, Claims, billing, and other systems)
Web Service Gate
Microservices

Key Benefits

Quoting and Rating

Global IQX Quoting and Rating takes you through the complete new business quoting process with consistency, speed and a 360̊ view .

Built exclusively for the group benefits insurance industry, Global IQX technology is scalable and supports all product lines and case size segments ranging from individual voluntary worksite benefits to small group and beyond to national account size groups of 100,000 + employees with complex multi-division/class structures.

The IQX Rating Engine performs complex calculations, manual or experience rated, for all employee benefit products during both the new business process and at renewal. Business rule-driven in design, the rating engine easily incorporates the most complicated of algorithms to provide accurate rates of all products quoted in seconds.

AI Census scrubbing and upload census makes data available in a variety of formats and languages.

Enrollment

IQX Enrollment supports paperless enrollment for both group and voluntary products. We facilitate the enrollment process for both carrier, client and the insured employees.

Driven by intelligent workflow features our Enrolment component is broken down into 3 modules.

On-boarding and set-up, carrier driven administration and employee self-service. We take the data from your existing rating engine, ours or any 3rd party and provide the digital tools you need to streamline the entire process, right up to employee selection of optional voluntary benefits.

Real-time rules-based data validations streamline the process of capturing, validating and processing all data. Users have the ultimate convenience of completing the forms from anywhere and attaching e-signatures where legislation allows for an entirely paperless process.

Automated Underwriting and Renewal

IQX Automated Underwriting and Renewal (AUR) re-invents the process of renewing clients’ group quotes by reducing the need for carrier intervention for standard quotes, automatically queuing renewals for both manual and automatic re-rating, auto-generating policy renewal packages seamlessly.

(AUR) is a digital renewal solution that initiates the policy renewal process prior to renewal effective dates based on lead-times. It integrates with existing systems or can be used as part of the IQX Sales + Underwriting Workbench while leveraging IQX Quoting and Rating. Automated Renewals can be scheduled for client renewals individually, by block, by broker or by date etc.

AUR underwriting tools include new business and experience rating, in-force renewal rate re-calculation and adjustments, reporting, and tracking. Rules, messaging escalation actions, and exceptions are configurable. AI renewal processing initiates case-specific rules prior to effective dates instilling confidence that policy deadlines won’t be missed. Alternate plans designs and optional products can also be quoted.

Proposal Document Management

Proposal and Document Management (PDM) supports users across the IQX platform with all the key documents required for quoting, rating, proposals, enrollment, renewals and reporting. Editable templates ensure quotes and letters are compliant with the look and feel of product, regulatory requirements, and your organizations brand.

Assemble multiple products with alternate options for multiple classes and generate the proposal, enrollment forms, or renewal packages dynamically. During the rating process underwriters benefit from valuable rate analysis outputs, providing insight into complex rate structures.

Proposal templates can be edited directly within the proposal creation tool to support quote-specific requirements without impacting the master templates. Or, manage document templates within the IQX Proposal Manager for added control and configurability.

Individual Medical Underwriting

This innovative application automates underwriting for individuals and group plan members. Powered by the IQX Rating and Rules Engines, medical enrollment forms and questionnaires are completed online and submitted to underwriters for approval or assessment.

Based on the information provided by the plan members, the rules engine instantly requests additional information based on medical conditions, removing the need for clarification often required with manual form submissions.

IQX Individual Medical Underwriting drives workflow by directing desirable transactions for jet issue, declining submissions, or forwarding the account for further underwriting. This streamlines the enrollment and underwriting process, reducing turn-around time and allowing underwriters to focus on underwriting decisions rather than gathering and deciphering manual forms.

Media

Brochures
Case Studies
Videos