AUSTIN, Texas – February 8, 2011 – ProspX, Inc., developer of the first on-demand search and sales collaboration solution for the commercial insurance industry, today announced that Medmarc Insurance Group, the leading expert in managing insurance and risks for manufacturers and distributors of medical technologies and life science products, is implementing the ProspX platform. The solution will help streamline communication and enhance Medmarc’s visibility with top agents and brokers on the ProspX network.
The Web-based platform gives participating commercial insurance agents and brokers real-time access to information about Medmarc’s expertise, the types of risks it insures and key contacts, making it easier to collaborate on new and renewal business opportunities. Using simple keyword searches, brokers can find, connect to, and collaborate with relevant underwriters at Medmarc and can access the information they need regarding products and services. In turn, Medmarc can communicate more effectively about its unique expertise and the types of risks it insures.
“Most of the top agents and brokers use the ProspX platform to identify expertise and collaborate across their network,” said George Ayd, assistant vice president of business development and marketing at Medmarc. “By making our underwriting specialists available via the same platform many agents and brokers already use to do business, we are streamlining communication, elevating our visibility, and adding more value for them and for our customers.
Medmarc will also take advantage of ProspX InsiderConnect™, the first electronic marketing solution that delivers targeted insurance industry and line-of-business specific news and updates to producers who are actively working on related new and renewal business opportunities. InsiderConnect will make it possible for Medmarc to deliver custom e-mail alerts to producers working on specific deals that match their expertise, helping to elevate its key differentiators and gain producer mindshare.
“One of the biggest challenges carriers face in the complex and competitive world of commercial insurance is the difficulty of arming agents and brokers with key interests and differentiators early in the sales process,” said Todd Young, president and CEO of ProspX. “We are pleased to be the technology that Medmarc has chosen to help address this key challenge and we’re excited to be adding them to our growing list of carrier partners.”
For more information on ProspX solutions for the commercial insurance industry, please visit www.prospx.com.
About Medmarc Insurance Group
Created to be a permanent solution to the volatile products liability insurance market, Medmarc was founded in 1979 by HIMA (the Health Industry Manufacturers Association)—now AdvaMed, the world’s largest medical technology association. Medmarc has grown from a small, Bermuda-based captive insurance program to a U.S.-based insurance group with licenses and authority to write business in all 50 states and the District of Columbia. Throughout its history, Medmarc has never wavered from its commitment to be the superior provider of liability insurance protection to the industry it serves. For more information, please visit www.medmarc.com.
ProspX, Inc. develops the industry leading social business platform for managing the complex, multi-party sales process of the $500 billion commercial insurance industry. Built for the commercial insurance industry by insurance professionals, the ProspX platform gives brokers quick and easy access to the critical information and resources relevant to the new and renewal business they are working on, while allowing carriers the ability to elevate their message for increased visibility at the initial point of an opportunity. For more information, please visit us at www.prospx.com, follow us on Twitter at www.twitter.com/prospx and like us on Facebook at www.facebook.com/prospx.
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.