Global IQX Platform and Component Overview
Global IQX is a digital employee benefits platform for group insurance and voluntary benefits. The IQX platform and its components are the foundation for true digital transformation.
Known for its sales and underwriting workbench that streamline the new business and renewal processes for true group, experience rating for groups of all sizes from weeks to minutes.
Global IQX provides configurable out-of-the-box components for quoting, rating, proposal and document generation, enrollment and both manual and automated renewals. The components can leverage API into existing solutions, SalesForce, claims, policy admin promoting straight-through-processing across business groups
Quoting and Rating
Individual Medical Underwriting
Policy Document Creator
Channel Workflow Manager
Business Rules Manager
IQX Platform Features
AI Census Scrubber
IQX Integration Tools
Web Service Gate
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 sales 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.
IQX Enrollment supports paperless based enrollment for both group and voluntary products. We seamlessly 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.