InsPro Technologies Looks to Build on Record Year
Customer Acquisition, Product Innovation, and Rapid Growth Mark InsPro’s Emergence as Leading Provider of Out-of-the Box Policy Administration Systems
Eddystone, PA – Feb. 19, 2013 – InsPro Technologies LLC, the leading provider of innovative, out-of-the-box policy administration system that help insurers and TPAs market new products faster and manage business more efficiently, today announced a series of milestones achieved in 2012.
“2012 was a breakthrough year for InsPro,” said Bob Oakes, president and CEO of InsPro Technologies LLC. “We crossed the chasm from a pioneering, entrepreneurial company to a dynamic industry leader with proven scalability in an accelerated growth environment. Not only were we able to manage multiple, large-scale implementations simultaneously, but we also doubled our employee base, and significantly enhanced our System capabilities at the same time. Being selected to the Deloitte “Fast 500” list was further validation that we’re on the right trajectory.”
The Company’s dramatic growth secured a ranking in the top third of companies on Deloitte’s ‘Fast 500’ list, and was the only policy administration system company among the five-hundred winners. InsPro welcomed four new customers to the InsPro Enterprise system in 2012 including a prominent Third-Party Administrator, as well as carriers offering Medicare Supplement, Life, Long-Term Care, and Voluntary Benefits products. In addition to expanding its claims capabilities in health insurance, life insurance, and Medicare Supplement (VA and Select), the Company recruited and retained over forty new employees. Among the key executives who joined the Company are Ginny Malecki, Vice President of Customer Delivery, Will Pagan, Vice President of Strategic Partner Management, and Sandra Taylor, Ph.D., Chief Marketing Officer.
Continuing its focus on innovation in 2013, InsPro will release a major system enhancement to InsPro Enterprise that will support annuity products. This upgrade will allow insurance providers and third-party administrators to meet the demand for a broad range of products. Additionally, InsPro intends to add Universal Life support to the system platform in 2013. With the launch of these new offerings, InsPro will be one of the few companies in the market providing an out-of-the-box system supporting UL, Indexed UL, Whole Life, Term, Annuities, LTC, Medicare Supplement, Critical Illness, Specified Illness, Disability, Accident, AD&D, Final Expense, HIP/HAP, Vision, Dental, and hybrid product variants on a single platform.
About InsPro Technologies, LLC
A subsidiary of InsPro Technologies Corporation, InsPro Technologies LLC, 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 LTC, 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 Technologies LLC is a US-based company, headquartered in Eddystone, PA. For additional information on InsPro Technologies LLC, 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, 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 LLC’s current expectations or forecasts of future events. Moreover, InsPro Technologies Corporation 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