, December
5, 2003 –
EPIC Consulting, LLC today signed a joint marketing agreement with the
personal lines insurance software company, InsurQuote, Inc. to leverage
their assets in order to pursue the offering of new solutions to the
personal lines insurance industry. Under the terms of this agreement, both
companies have agreed to assist each other in the development and marketing
of their respective products and services.
InsurQuote
develops the competitive analysis tool InSight which is licensed by many of
the top players in the Property and Casualty insurance industry. EPIC, a
leading actuarial consulting firm, has developed Compas, which is an
application that generates reports that are developed for insurance carriers
in the competitive analysis/actuarial services marketplace.
The agreement will
allow EPIC to contribute in the marketing efforts of InsurQuote’s
competitive analysis tools (InSight and Rate Analyst) to property and
casualty insurance companies. The agreement will also enable InsurQuote to
take over the development of the new “Compas by EPICTM” reporting
product. This new product will serve as an add-on to InSight’s current
reporting capabilities.
“EPIC is very
excited about this strategic alliance,” said Klayton Southwood, Principal
and Consulting Actuary for EPIC. “The alliance enables both firms to offer
their clients a powerful new tool combining the expertise of InsurQuote in
generating competitive information and the expertise of EPIC in analyzing
that information as part of strategic decision-making processes.”
President of
InsurQuote, Keith Toney, had this to say about the agreement. “We are very
pleased to enter into this agreement with such well respected industry
professionals. EPIC’s industry experience and resources complement our
business very well. We are excited about working together on this new
venture to enhance the solutions in the competitive analysis market.”
This new strategic
relationship reaffirms InsurQuote’s commitment to providing the most
innovative competitive analysis software applications to the marketplace as
well as EPIC’s industry standing as a premier actuarial consulting firm.
All trademarks
appearing in this news release are the property of their respective owners.
About
EPIC Consulting
EPIC is a privately-held Illinois limited
liability corporation, founded by a number of principals and senior
consultants previously employed at Miller, Herbers, Lehmann, & Associates.
EPIC’s professional staff serves clients including insurers, local and state
government entities, insurance trade organizations, self-insured businesses
and groups, captive insurers and risk retention groups. Many of EPIC’s
clients have been served continuously by its principals and senior
consultants for over 15 years, with some in that group being served
continuously since the commencement of practice in 1984. They have been
actively involved in ratemaking for personal lines of insurance for over
twenty-five years.
About
InsurQuote
InsurQuote, Inc. is based in Orem, Utah. They
have provided comparative rating products for over 18 years, and are the
leader in competitive analysis solutions for personal lines P&C
carriers. InsurQuote has evolved into a company focused exclusively on
competitive analysis for personal lines P&C carriers. They market the
InSight applications for both auto and homeowners insurance. These products
can be licensed with various levels of product sophistication and support,
depending on specific carrier needs. InsurQuote also markets Rate Analyst,
which is a companion tool to InSight that allows the user to make
experimental alterations to its own rates and compare the results with both
its current rates and competitors’ rates. All of these products are
PC-based tools, running on Microsoft Windows 32-bit operating systems.
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