History

iPipeline was founded by an innovative insurance agent in 1995 to solve the emerging business challenges of the insurance industry whose sales paradigm was shifting from a captive or "career salesforce" to an independent or brokerage sales model. Agents who had traditionally written policies for a single insurance carrier now faced mounting complexities associated with writing policies for many different carriers. Insurance companies also faced complexities in keeping agents and distributors up to date with the correct rates, product information and forms, which can vary by state.

iPipeline built one of the earliest on-demand platforms providing content and forms from multiple carriers to independent life insurance agents and distributors. This has grown into the largest network and multi-carrier content database in the insurance industry and given iPipeline a true leadership position. The "iPipeline Network" connects 160 insurance carriers with 1,200 independent distributors and more than 600,000 agents. iPipeline's platform provides this insurance network with real-time access to the information needed to write policies and a point-of-sale system delivering straight through processing of insurance applications for the annuity, life, disability, long-term care, and P&C insurance markets. No other on-demand marketing and point-of-sale system offers the brand visibility, increased efficiencies, cost savings, and reduction in sales cycles.

In 2006, with the goal of influencing the way agents work, iPipeline launched the industry's first intelligent electronic insurance application, iGOFORMS™ (now branded iGO e-App™), for "In Good Order" submissions. iGO e-App eliminates data entry mistakes and legibility issues introduced inadvertently by agents at the point of sale TToday, iPipeline's enhanced “Velocity” Platform now supports e-signature and e-submission for straight-through processing with iGO e-App, cutting through the people-paper-process barriers that obstruct transactions within the industry — while not disintermediating the distribution process.

In 2008, Fidelity Ventures and NewSpring Capital, two leading venture capital firms made an equity investment of $18.5 million in iPipeline to support expansion of products, engineering, sales and marketing. Immediately following the investment, iPipeline acquired its long-time technology partner COSS Development Corporation, a leading provider of illustrations, needs analysis and advanced sales concepts, to extend its value to the insurance industry. Fidelity's and NewSpring's investment decision was based on iPipeline's vision, leading market position, SaaS business model, superior technology platform, and unrivalled customer network.

On November 3rd, 2009, iPipeline extended its platform by acquiring AgencyWorks. AgencyWorks’ services are designed to maximize profitability, sales growth and administrative efficiency for life insurance agencies, carriers, and producers. This acquisition supports iPipeline’s strategy to provide seamless integration from the producer through the distributor to the carrier and provides better real-time information on the life cycle of the insurance sale.

iPipeline is now positioned to attack the processing delays that cost the industry billions in lost premium and added expense. Our vision is to expand our vast platform of informational-based tools for insurance companies, wholesalers, banks and broker-dealers, operating in the life, annuity, P&C, and financial services markets, by providing a compliant end-to-end solution that drives straight-through processing, including e-signature, e-policy and e-policy/print on demand. The final result: enable the insurance industry to market better, sell more, and process faster via iPipeline’s unique solution.

The impact has been far-reaching, encouraging many of the largest names in the insurance industry to deploy iGO e-App to reduce cycle time and increase policy placement ratio. In June 2009, Celent Named iPipeline the Leading Vendor in Life/Health Category of their Insurance Industry Trends Report with 51% of 2008 Software Deals. iPipeline is the 2009 ACORD Award Winner for Infrastructure Platform and the 2009 Microsoft WFS Innovator Award Winner for Business Transformation within the Insurance Industry.