ProspX Experiences Exponential Growth in Insurance Carrier and Broker Adoption

Company’s Leadership Position Strengthened by 370% Increase in Users During First Quarter

AUSTIN, Texas – April 10, 2012 – ProspX, Inc., developer of the largest social business solution for the commercial insurance industry, today announced record carrier and broker adoption for ProspX InsiderConnect™, the only content marketing platform that automatically matches critical industry news and carrier information with a producer’s profile and specific new or renewal business in their pipeline.

During the first quarter of 2012, the number of subscribed brokers utilizing InsiderConnect nearly quadrupled in size since the product’s release early last year, with participants from 158 of the industry’s top 250 independent insurance agencies. Additionally, ProspX welcomed three more carrier partners onto the InsiderConnect platform providing them exposure to more than $31 Billion in potential premium.

Among other first quarter achievements:

  • Announced strategic partnership with Rough Notes to automatically deliver content and insights to 41,000 of its magazine subscribers
  • Welcomed Dr. William T. Hold, co-founder and president of The National Alliance, to ProspX Board of Directors
  • Announced The Schul Group, a leading risk and insurance professional services consulting firm, will leverage InsiderConnect as part of its learning and advisory practices
  • Named Thomas M. Cornish, president and CEO of Seitlin Insurance (A Marsh & McLennan Agency), as new head of ProspX Customer Advisory Council
  • Held fourth annual user conference in Aspen, Colorado with record attendance

ProspX’s momentum is the result of significant initiatives, including a strategic partnership formed last year with The National Alliance For Insurance Education and Research, a premier provider of advanced educational opportunities for insurance and risk management professionals with nearly 100,000 brokers in the network. The joint offering enables sales professionals, account managers, marketing executives and customer service representatives (CSRs) to receive timely and relevant research and educational information from The National Alliance automatically via the ProspX InsiderConnect platform.

“It was a phenomenal quarter for ProspX with the rapid expansion of our broker and carrier user base,” said Todd Young, president and CEO of ProspX. “With strong support from our brokers, agencies, carriers, and strategic partners, we continue to gain significant momentum in our mission to automate and simplify collaboration for the commercial insurance industry.”

ProspX streamlines communication between insurance agents, brokers, and carriers for the ultimate benefit of the client. The ProspX social business platform facilitates the real-time sharing and exchanging of critical information and intelligence as it relates to specific classes of risk, types of exposure, and clients. ProspX InsiderConnect is the first electronic marketing solution that delivers targeted insurance industry news and carrier updates to agents, account executives, CSRs and marketing executives who are actively working on related new and renewal business opportunities.

For more information on ProspX solutions for the commercial insurance industry, please visit www.prospx.com.

About ProspX

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.

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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) 419-9970