InsPro Enterprise Selected by iGATE for its Third Party Administration Business
iGATE will leverage InsPro Enterprise to reduce and shift fixed to variable costs, enhance customer service, and accelerate time-to-market for its clients
Eddystone, PA – February 26, 2013 – InsPro Technologies LLC, the leading provider of innovative, out-of-the-box policy administration systems that help insurers and TPAs market new products quickly, improve customer service, and reduce operating costs, today announced that iGATE has selected the InsPro Enterprise application suite for full administration of its Third Party Administration (TPA) business. iGATE is the first integrated Technology and Operations Company providing Business Outcomes-based solutions and offers TPA services through its wholly owned subsidiary CHCS Services Inc.
The InsPro and iGATE partnership, announced in July, 2010, was the catalyst behind the decision to modernize iGATE’s full-service insurance TPA operation. InsPro Technologies LLC President and CEO Robert Oakes stated, “We are pleased that a highly respected insurance service partner such as iGATE chose the InsPro Enterprise platform to provide a strong foundation for its TPA business.” Oakes continued, “We look forward to working with iGATE to ensure that their TPA business is smoothly and successfully transitioned to InsPro Enterprise.”
The ability to service a wider segment of the industry and provide accelerated project timelines to iGATE’s clients makes the selection of InsPro Enterprise an ideal fit and natural extension of the relationship.
Ganesh Iyer, Senior Vice President, Insurance, Healthcare & Lifesciences, iGATE said, “Our unique Business Outcomes model aligns clients’ core business objectives to ensure results and outcomes. The ability to continually enhance operational efficiencies through superior state-of-art technology is at the heart of our iTOPS (integrated technology and operations) value proposition, which fits well with InsPro Enterprise’s functionalities.”
“The InsPro Enterprise application suite is a significant constituent of our endeavor to build a world-class platform aligned with the goal to become a leading TPA. Implementation of this modern solution will enable us to maintain our strong market position as a top-tier provider in the highly competitive insurance services marketplace,” Ganesh added.
InsPro Enterprise currently supports Term, Whole Life, Long Term Care, Medicare Supplement, Critical Illness, Disability, Accident, Specified Illness, Final Expense, HIP/HAP, Dental, Vision, and hybrid products for both group and individual lines of business. In the coming year, InsPro intends to expand the system’s functionality for annuity and universal life product support.
About InsPro Technologies Corporation
Through its subsidiary, InsPro Technologies LLC, InsPro Technologies Corporation, offers true, out-of-the-box functionality with InsPro Enterprise, a dynamic policy administration system that helps insurers and TPAs market new products quickly, improve customer service, and reduce operating costs. Fully loaded with prebuilt, product-specific templates
driven by simple, intuitive Wizards, the system ensures that 85% or more of what clients need is already in place.
Highly configurable by the business user, InsPro Enterprise supports multiple product lines as well as hybrid products on a single, web-based system. With extensive domain expertise in Medicare Supplement and Long Term Care, as well as Accident and Health and Life Insurance products, the Company intends to add Annuity and Universal Life products to its platform in 2013. InsPro is a US-based company, headquartered in Eddystone, PA. For additional information on InsPro Technologies, please visit www.inspro.com.
In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the “Safe Harbor” provisions of The Private Securities Litigation Reform Act of 1995, including statements regarding current and future capabilities and products supported, quality and growth potential of our technology platform, including related services, and providing the financial support and other resources needed to demonstrate the strength of this growing technology business and to continue to reinvest in the product. Forward-looking statements provide InsPro Technologies current expectations or forecasts of future events. Moreover, InsPro Technologies cautions readers that forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from the statements made, including risks described in InsPro Technologies’ most recent Quarterly Reports on Form 10-Q or Annual Reports on Form 10-K filed with the Securities and Exchange Commission and available on the Securities and Exchange Commission’s website at www.sec.gov. InsPro Technologies Corporation does not undertake any obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations
iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE’s multi- location global organization has a talent pool of over 27,500 employees and consistently delivers effective solutions to over 300 clients including Fortune 1000 companies spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; communication, energy and utilities; public sector; and independent software vendors. Under the Insurance, Healthcare & Life Sciences practice, iGATE offers Third Party Administration solutions through its wholly owned subsidiary CHCS Services Inc. Please visit www.igate.com for more information. iGATE Corporation is listed on the NASDAQ Global Select Market under the symbol “IGTE.”