PRESS RELEASE
FOR IMMEDIATE DISTRIBUTION
MDI introduces « ALLEGROupe »
A unique software for the management of group insurance
Laval, June 6th, 1999 – Richard Sirois, president of MDI is proud to announce the release of « ALLEGROupe 3.0 » software dedicated to group benefit management. This release addresses every level of management : enterprises, labour unions, agents, group benefits advisors and insurers.
« The introduction of the new 3.0 version is timely, declares Richard Sirois. We have recently signed important license agreements with two major insurers, as well as concluded a verbal agreement with a third one. This new version will bring a substantial increase in the performance and features of this software ».
These commitments represent substantial amounts of money for the next five years and are only a prelude to other similar agreements that would allow MDI to take an important share of the Canadian market. The ultimate objective of MDI and his clients is to establish a management standard in group insurance that will permit enterprises, agents, group benefits advisors and insurers to reduce the important costs that are associated with management, thanks to the standardization of processes at every level of management and the advance sharing of crucial data. This new technology will allow for substantial reduction of human intervention bringing important cost reductions as well as improve productivity and management information. The MDI technology, which respects the Window standards, could be adapted for the needs of various countries across the world. The potential market throughout Canada is estimated at $100M.
One of these agreements has been signed with the Industrielle-Alliance Life Insurance Company, the 7th largest life insurance company in Canada. Industrielle-Alliance will make available to all of its clients who wish to implement it, the self-administrated version of « ALLEGROupe ». The implementation of this solution will have an impact on all levels of management. First of all, the group administrator will have access to a technology that will ease the management of the insurance plan, as well as the invoicing process. Taking advantage of an optional feature, not included in the Industrielle-Alliance offer, the enterprise could get access to an electronic integration with its payroll system. This addition could potentially eliminate substantial redundancy, duplication, and human errors typically associated with this type of management. The information will then be electronically captured through the computer mainframe of the insurer via Internet or modem. The electronic synergy is as such that each of the participants will profit from gains in terms of productivity, real-time access to information as well as obtaining a better management of each need. Here is a WINNING situation at every level. Thanks to the « ALLEGROupe » software, the Industrielle-Alliance will pursue its tradition of an adapted and personalized service for all businesses no matter the size.
A second insurer will implement differently the same solution. SSQ will propose to each of their clients the MDI formula and this without having a pre-determined volume of sale of licenses. MDI estimates that when the budgets are available, SSQ will take advantage of a similar agreement as the one establish with Industrielle-Alliance Life Insurance Company.
A third insurer AVDL (Assurance Vie Desjardins-Laurentienne) has chosen the Group benefits advisor version of « ALLEGROupe » in order to provide one of his distribution centres ‘Services Financiers La Laurentienne’, management tools that will allow the advisors and professionals to insure a professional and efficient management of sales. The distribution centre is situated in Laval, Quebec. Fifteen point-of-sales centres, covering the Quebec territory, will be linked electronically through Internet or otherwise in order to share information and expertise for project analysis and service offers.
Several additional agreements are presently in an advance phase of negotiation and MDI expects that the economic impact for Quebec will be extremely important.
MDI is a medium size corporation with an average of 25 employees, specialized in the conception, development, distribution and support of software’s for the P&C insurance industry, as well as the management of social benefits and group insurance plans. In 1998, MDI invested more than $ 300 000 in the implementation of the ISO 9001 quality procedures, in order to equip itself with an administrative and technological structure necessary to support the exponential growth of its business.
Resource Persons:
MDI :
Richard Sirois Tel: (450) 629-6158, Fax: (450) 629-1874
E-mail : rs@mdibls.qc.ca
Industrielle-Alliance Life Insurance Company :
Jean-Pierre Boutin Tel: (514) 499-3785, Fax: (514) 499-6698
E-mail : jeanpboutin@mtl.inalco.com
Services Financiers La Laurentienne :
Yves Boutin Tel: (450) 688-6674, Fax: (450) 688-7163
ADDITIONAL INFORMATIONS
To the press release of June 6th, 1999
Group Insurance management represents an extensive amount of work that has to be precise, synchronized in time, meticulous, redundant and constitute an enormous amount of human effort and intervention. It implies that the management of important mass of information, such as group plans, guaranties, employees information, optimizing employer’s contribution taking into consideration the fiscal implications, premium calculations, production reports and any pertaining documents.
The creation of a highly specialized technology that allows the automation of each of these processes constituted an opportunity and a substantial challenge for which the MDI team performed in a brilliant manner.
Strong with ten years of experience under his belt as a professional group manager, Mr. Richard Viau has developed, with the assistance of a team of experts, an open technology, efficient and productive. The results are impressive and the technology advancement is exceptional. Developed in an “ object oriented ” programming language for Windows 95-98 and NT platforms, it allows for important flexibility thus can be installed either on a single workstation under Windows 95 or 98 as well as under a Novell or NT networks, to permit access to multiple users simultaneously.
For the purpose of optimizing the return on investment and to limit the need for human interventions, the MDI team has put all of its efforts to insure the total integration of each level of management. « ALLEGROupe » is the first and only software that allows full integration starting at the business level, and this, up to the insurer and their suppliers, including electronic links between them and the electronic payroll system.
Each of the five management levels has been covered in order to insure fluidity and full vertical transparency. This integration guarantees each participant standardisation of the procedures, simplifying the communications between parties :
The « Enterprise » modules adapt to the needs, the financial capabilities and various objectives of the small and medium size enterprises as well as the multinationals with thousands of employees.
The Enterprise « Virtual and Virtual + » modules offer simplicity, productivity and a reasonable cost for the small and medium size enterprises, allowing them to access important information in real-time.
The Enterprise « Staff Movements » module allows tracking of insurance related changes that reflect the operation of any business, in regard with the personnel evolution (change in coverage needs, salary modifications, absences, etc…). Short of actually producing the real and final invoice, this module permits full management and tracking of all related information. This asset gives a highly productive management of the different services of the group insurance of the enterprises and allows working in real-time, thus increasing the precision.
The Enterprise « Self-Administration » module includes all the features of the « Staff Movements » module plus generates an invoice accepted by the insurer that, by having it pre-authorized by the insurer, can be linked directly to him via modem or Internet. This solution insures an optimal management and eliminates almost all duplications of information when combined with an electronic integration with the insurers and the payroll system.
Adapted for the businesses of 5 to 50 000 employees, the « Enterprise » modules insure the integral management as well as optimize all TAX related impact to insure that both the employer and employees will get the most out of their contributions. The power and intelligence of ALLEGROupe, guarantee substantial saving as well as management flexibility, wished by personal resource managers.
The « Group benefits advisor » modules are design to increase and ease the business growth. They offer the productivity tools aimed at simplifying the daily management of the activities of a real professional. These tools addresses types of professionals : the group insurance consultant and the consultant manager, as well as the Third Party Administrators (TPA).
For the professional consultant, the system allows management of clientele, new business proposal analysis, comparative and follow-ups, automatic and electronic conversion of projects into contracts, electronic exchanges with either the client or the insurance, full tax optimization in accordance to various scenarios of contribution on the part of the employer or of different insurance coverage options (virtual calculation method) and finally, to produce a resume of coverages for the employees. These modules provide tools of assistance for highly sophisticated sales, assisting the ‘Enterprise’ in decision-making, by providing it with the comparative analysis between the different solutions of evaluation.
The « Broker Centre » modules allow the simultaneous management of portfolios of several market advisors within one firm. Destined to the insurers or general agents, this module optimizes the operations and the necessary control for an optimum productivity.
The « TPA » module (Third Party Administrator) is dedicated to group benefits advisors that are highly specialized and take in charge the responsibility of invoicing their clients instead of the insurer. Powerful and user friendly, this module offers a new level of quality and productivity, including all the relevant administrative tools linked to the management of the three concerned cost centres (insurers, clients and TPA).
The « Insurers » Billing allows the insurer to prepare, on behalf of his clients or recuperate from his clients, the data for the « Self-Administration » and « Staff Movements » modules as well as to forward them to their central systems (administration, accounting, benefits and health card).
The « Insurer » Sales sector allows the manager of the sales sector to manage the portfolio under its responsibility, by putting to the disposal of his representatives in sales and servicing a complete management tool. This module includes all the tools for management of proposal and submission, to capture the sales and generate the reports linked to the sales process as well as the pertinent statistics. This module is able to carry out the interfaces with the internal systems of the insurer (administration, benefits and rating) or with the « Insurers » Billing, as well as with the external systems developed by MDI for businesses and group benefits advisors.
