iPipeline Captures 55% of the Software Deal Volume in the Life/Health Metacategory for North America
Exton, PA — 06/05/2013
iPipeline®, a leader in on-demand software that supports marketing, selling, and processing solutions for the nation's top insurance carriers, distributors and agents, today announced it led the Life/Health Metacategory for Distribution in Celent's Insurance Software Deal Trend Report with 55% of the Deal Volume. iPipeline also ranked 6th among the 44 vendors in the 2013 “Traction Index,” which Celent determined by a weighted score measuring the volume and type of agreements software companies secured for the performance period. iPipeline led the Life/Health Distribution Metacategory in Celent's 2009, 2010, 2011 and 2012 Insurance Software Deal Trend Reports.
"In 2012, iPipeline launched a strategic initiative to invest heavily in product management, R&D, and customer success to better support our customers and deliver what they need to drive operational efficiencies and revenue growth. Our ability to consistently execute on our vision is reflected in our 2012 deal volume and increasing market penetration. Customer loyalty also factored into our sustained growth," said Paul Melchiorre, President, iPipeline. "Receiving validation from Celent's research for our 2012-13 sales accomplishments repeatedly speaks volumes to the applicability of our solutions in a competitive, often confusing marketplace. Our focus is on delivering a comprehensive, integrated platform the entire industry can use. We are pleased to have a commanding percentage of the software deal volume in the life/health category for a fifth consecutive year."
"Distribution deals increased dramatically in life insurance and account for 27% of all deals up from 15% in our last report," says Karen Monks, analyst with Celent’s Insurance group and coauthor of the report. "Our conversations with life insurers reveal that many are concentrating heavily on improving the sales and distribution process through automation; the deal data supports this trend. This bodes well for iPipeline which, based on the deal submissions by vendors participating in the study, accounted for 55% of the life insurance distribution deal volume."
iPipeline is the proud winner of the 2013 PACT Enterprise and SmartCEO Voltage Awards for the Greater Philadelphia region. To learn how you can leverage iPipeline's Velocity platform to support straight-through processing and gain speed-to-market advantages for the selling of life, annuity, final expense, Medicare supplement, critical illness and other financial products, contact firstname.lastname@example.org or call 1-800-758-0824, option 2.