InsPro Technologies named to the annual Gartner Magic Quadrant for Life Insurance Policy Administration. Evaluation based on completeness of vision and ability to execute.
Eddystone, PA – September 9, 2014 – InsPro Technologies, the leading provider of an innovative policy administration system that helps insurers and TPAs market new products quickly, improve customer service, and reduce operating costs today announced it has been positioned by Gartner, Inc. in the “Leaders” quadrant of the Gartner “Magic Quadrant for North American Life Insurance Policy Administration Systems” by Kimberly Harris-Ferrante, September 2014.
“We consider our positioning in the ‘Leaders’ Quadrant by Gartner, confirmation of InsPro’s strong market position and continued sales momentum over the first eight months of this year during which we signed several new clients, two of whom are Fortune 100 insurers,” said Robert Oakes, President and CEO of InsPro Technologies. Oakes continued, “InsPro Enterprise™ is fast becoming the preferred policy administration system for insurance carriers, as well as large third-party administrators. As we focus on finishing the year as strongly as we began it, we will continue to innovate and expand our leadership position, while extending our implementation and support capacity through established strategic partnerships.”
“Gartner continues to see growing demand among life insurers as new business demands challenge their aging legacy systems,” noted Kimberly Harris-Ferrante, Vice President & Distinguished Analyst for Gartner, and author of the report. “More than ever, companies are facing business challenges that cannot be accomplished when they are running older, inflexible and high-cost legacy systems.”
Vendors were evaluated on their “ability to execute” and their “completeness of vision.” The “ability to execute” dimension includes product or service, overall viability, sales execution/pricing, market responsiveness/record, marketing execution, customer experience, and operations. The “completeness of vision” dimension covers market understanding; strategy (marketing, sales, product, industry, geographic); business model and innovation.
About InsPro Technologies Corporation
Through its subsidiary, InsPro Technologies LLC, InsPro Technologies Corporation offers comprehensive, innovative functionality across a wide spectrum of insurance products with InsPro Enterprise, a dynamic policy administration system that helps insurers and TPAs market new products quickly, improve customer service, and reduce operating costs.
Highly configurable by the business user, InsPro Enterprise supports multiple product lines as well as hybrid products on a single, web-based system. The Company’s domain expertise includes Voluntary, Senior Health, Life, A&H, and Annuity products. InsPro is a US-based company, headquartered in serEddystone, 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.
# # #
InsPro Technologies LLC
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.