ProspX's Social Business Platform Experiences Record Adoption Rate in 2012

Company's Momentum Strengthened by 925% Increase in Carrier and Broker Users

AUSTIN, Texas - January 22, 2013 - ProspX, Inc., the social business platform for commercial insurance, announced significant market adoption in 2012 with a 925% increase in carrier and broker users of ProspX InsiderConnect™. The ProspX network now includes over 11,000 commercial insurance professionals from the top 250 brokers, agencies, and commercial carriers worldwide.

"With strong support from our agency, carrier, and strategic partners, we have reached a significant company milestone," said Todd Young, president and CEO of ProspX. "It is exciting to see our industry embracing innovation in a big way to harness the best information, intelligence, and resources available for the benefit of their clients. We are extremely pleased with the rapid rate of adoption that we have experienced and we look forward to accelerating our growth and momentum even more in 2013."

Among other significant 2012 achievements:

  • President and CEO of Assurex Global Jim Hackbarth joined the ProspX Board of Directors
  • Former AIG executive Stephen A. Gold joined ProspX as Senior Advisor
  • Received MarketScout's 2012 Entrepreneurial Insurance Award for the best new idea in technology insurance
  • Welcomed Dr. William T. Hold, co-founder and president of The National Alliance, to ProspX Board of Directors
  • Named Thomas M. Cornish, president and CEO of Seitlin Insurance (A Marsh & McLennan Agency), as new head of ProspX Customer Advisory Council
  • Announced strategic partnership with Rough Notes to distribute their industry content to the ProspX broker and carrier network.
  • Formed strategic partnership with The Schul Group, a leading risk and insurance professional services consulting firm, to roll-out InsiderConnect as part of its learning and advisory practices
  • Announced a technology partnership with World Risk and Insurance News (WRIN.tv) to deliver targeted video-based content to brokers and carriers via InsiderConnect.

InsiderConnect is designed to help strengthen client relationships, showcase expertise, and build personal brand awareness. The platform delivers custom insurance industry, line of business, and carrier specific content to brokers based on their expertise. Brokers can then share relevant content across their business network to stay top-of-mind with current and prospective clients and ahead of the competition. Additionally, carriers are able to target their message and content to a specific broker at the point of opportunity, leading to increased visibility, improved collaboration, and more quality submissions.

For more information about ProspX, 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