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| Healthcare IT and Biotechnology News Release |
| News Home :: Healthcare IT and Biotechnology News Releases :: More News Releases on this day |
| Date of Publication: Friday, October 05, 2007 |
Oxonia Insurance Group Completes Proprietary Software Platform IQ Network |
| Oxonia Insurance Group has developed a proprietary software platform called the IQ Network which guides health insurance agents through the process of qualifying their customers for a health insurance plan. |
Plantation, FL -- Oxonia Insurance Group has developed a proprietary software platform called the IQ Network which guides health insurance agents through the process of qualifying their customers for a health insurance plan. This technology allows Oxonia agents to qualify clients in as little as 5 minutes for several different carriers such as GoldenRule, Humana, Assurant, United American, GTL, Globe Life, Intelicare, and more. Conditional exclusions for each of these carri ers are built into the system so that the agent immediately knows for which plans their client will likely be underwritten. This allows Oxonia to provide their clients with the piece of mind that the plan that they submit an application for has a 90% ch ance of being accepted by the carrier.
As the media has begun focusing coverage on the national health insurance crisis, conditional acceptance has become a highly criticized practice utilized by insurance carriers to ensure profitability. For professionals in the health insurance industry, this is a common practice that is well understood by licensed agents, but for clients who need health protection the acceptance and rejection process can be traumatic. Through the use of technology, Oxonia Insurance Group is making it easier for their a gents to help clients avoid the pitfalls of the health insurance process.
The IQ Network system is web based and completely designed in ASP.Net, so the only thing that agents need to access the system is an internet connection. While lead qualification is the core functionality of the IQ Network, additional features of the sy stem include:
Lead Management
Lead Autopost
• Leads are fed directly into the IQ Network database and present to the agent within 1 minute so agents are first to reach interested clients
• Auto-posted information includes: Name, Address, City, State, Zip, Phone, Smoker (Y/N), Gender, Age, Height, Weight, Pre-existing conditions, and more!
Queue technology allows leads to recycle based on their previous dispositions
• Answering machine - 2 hours
• Personal Callback - Time set by agent
• Not interested - lead is closed
• 30 + additional dispositions available to the agents
FTC regulations are built into the system
• Leads available to be called when it is before 9AM in that timezone
• No leads may be called after 9PM in that timezone
Lead Management Reports
• Sales Performance Report - Details leads sent for a given time period, conversion rates of those leads, total amount spent by lead vendor, lead statuses, percentage complete, and cost per acquisition (total amount spent to get one sale)
• Campaign Activity Report - Details all leads by their current disposition for a given time period and lead vendor
Sales Management
IQ Network leads the agent through the qualification process as they review:
• Current Coverage
• Start Date
• Benefit Expectations
• Desired Coverage
• Conditional Exclusions
• Pre-existing conditions
Once pre-qualification is complete the plans available to the customer are presented
• If an applicant will be disqualified by a carrier, the carrier's name will be grayed out prohibiting agents from selecting the carrier.
Carrier conditional exclusions are built into system tables
• System presents only those plans for which the customer is likely to be accepted
Collecting Payment Information
• System will walk agents through the process of collecting bank or credit card info and validate that information to avoid typing errors
Full reporting suite allows you to manage your book of business
• Sales & Status Report - Allows you to filter your sales by date, carrier, product, status, or agent
• Sales by Time of Day - Breakdowns sales by each hour of the day and each time zone
• Phase & Status Report - view the number of applications in each phase of the approval pipeline
The IQ Network is currently used in 6 Oxonia call centers and by Oxonia's independent eSmart Agents nationwide. To learn more about joining the Oxonia Team and becoming an eSmart Agent please visit the Oxonia Agent Center website at http://www.oxoniainsurance.com/Agent-Center/sales_Management.htm
Oxonia Insurance Group, Inc. is a national insurance agency focused on providing individuals and families with easy access to quality and affordable health plans. They work with a multitude of top companies that are in good financial standing, known to be consistent in providing excellent and reliable customer service, creative with product innovation and in tune with the needs of the consumer.
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