ProspX Reports Record 2009 Results
Company Reaches $29 Billion in Premium Represented in Network
AUSTIN, Texas – February 2, 2010 – ProspX, Inc., developer of the only on-demand enterprise search and sales collaboration platform for the commercial insurance industry, today announced record results for 2009. These results show dramatically increased premium volumes represented in ProspX’s subscriber network and a rapidly expanding customer base.
As a $500 billion per year market, the competitive, complex commercial insurance industry provides services for hundreds of thousands of customers worldwide. To improve the flow of business, ProspX has developed a Software-as-a-Service (SaaS) solution that combines enterprise social networking, search, and CRM technology. The result is a comprehensive solution that automatically connects commercial insurance agents, brokers, marketers, and carriers at the initial point of opportunity and throughout the sales cycle.
Among ProspX’s achievements in 2009:
- Added over 100 new agency and carrier customers, including 28 of the top 100 largest U.S. brokers
- Exceeded $29 billion in premium represented in the network
- Announced XpertConnect™ initiative with Assurex Global
- Named former chairman and CEO of CNA, Dennis Chookaszian, to the ProspX Board
- Announced EmailConnect™ functionality, making broker and carrier collaboration even easier
- Recognized as an award winner on the AlwaysOn Global 250 list
- Acknowledged by leading research analyst as a “Hot” company to watch in 2010
- Held first customer council meeting in Chicago
The July release of EmailConnect made it possible for users to collaborate on an opportunity via email without the need to log in to ProspX. With EmailConnect, ProspX automatically logs and tracks the conversation and the information exchanged. This email-driven workflow motivates rapid, high-quality responses because providers of information and expertise are not required to alter their workflow or be inconvenienced in any way in order to provide meaningful contributions to a business opportunity. Additionally, the ease of implementation significantly reduces the burden on IT and training staff.
“We are proud of ProspX’s 2009 performance and extremely optimistic about 2010,” said Todd Young, president and CEO of ProspX. “Efficient and effective collaboration between brokers and carriers has become a fundamental component to the success of business insurance around the world. Our customers value our easy-to-deploy, easy-to-use solution and the positive impact it has made on their ability to work smarter. We will continue our commitment to their success in 2010 and beyond.”
ProspX will host its first User Conference on March 25-27 in Aspen, Colorado. For more information about this event or ProspX in general, please visit www.prospx.com.
About ProspX, Inc.
Built for the commercial insurance industry by insurance professionals, ProspX, Inc., headquartered in Austin, Texas, develops on-demand sales collaboration and automation solutions that improve productivity and streamline communications between agencies, brokers, and carriers. Combining the best of enterprise social networking, search, and CRM technology, ProspX gives brokers quick and easy access to the critical internal resources available for new and renewal business, while allowing carriers the ability to elevate their message for increased visibility at the initial point of opportunity. For more information please visit www.prospx.com and follow ProspX on www.twitter.com/prospx.
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ProspX is a trademark of ProspX, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.
Media Contact:
Jill Ford
jill.ford@prospx.com
(512) 657-8915
