LexisNexis® Acquires MarshBerry Sales Portal
October 3, 2011 — Sales Automation Technology Combined with LexisNexis® Insurance Exchange Expands Broker Sales and Marketing Management Capabilities
NEW YORK, NY – LexisNexis® Risk Solutions today announced the acquisition of the Sales Portal, from MarshBerry, the nation’s preeminent insurance consulting and M&A advisory firm. The Sales Portal is a state-of-the-art sales management automation tool that will be offered by the LexisNexis Insurance Exchange.
The Sales Portal expands the functionality of a producer’s desktop and the propensity for new business production by automating all three aspects of the sales process: lead management, pipeline management and stewardship/service timelines. The insurance brokerages currently utilizing the Sales Portal write more than $1 billion in aggregate commission income.
“We were already familiar with the Insurance Exchange and the value it represents,” said John Wepler, president, MarshBerry. “When we sought out to find a technology partner that would ensure that the Sales Portal would continually evolve and remain best in class, we immediately went to LexisNexis. The acquisition by the LexisNexis Insurance Exchange was strategic given the desire to evolve the two solutions. This is a natural fit with the Insurance Exchange as it provides an opportunity to enhance relationships between agents, brokers and carriers by guiding the sales process in the most efficient manner possible.”
For brokers and agents already using the Insurance Exchange, the Sales Portal adds key sales management capabilities and delivers proven best practices in new business development and account retention. The easy-to-use, Web-based technology allows agencies and brokers to track producer sales activity and manage service commitments relative to customer accounts. The platform maintains on-going client service throughout, via its internal tracking and compliance mechanism combined with external communications and reporting.
“As a preeminent consulting, M&A and benchmarking firm in the insurance industry, MarshBerry used its knowledge to design the Sales Portal to mirror best practices new business workflow,” said Peter Lynch, president, LexisNexis Insurance Exchange. “This acquisition will allow us to extend the ability of the Insurance Exchange to provide important, integrated functionality to agents and brokers, allowing them access to their CRM data within the Exchange and streamlining their workflow and processes as a result. The Sales Portal reaffirms our commitment to offering solutions that provide maximum benefit across the insurance industry and bring industry closer through goal alignment, data flow and knowledge transfer.” For more information, visit www.lexisnexis.com/insuranceexchange.
About LexisNexis Insurance Exchange
The LexisNexis® Insurance Exchange is a collaborative insurance placement platform designed to improve the flow of application data and documents between agents, brokers, wholesalers and carriers. By eliminating redundant and manual data entry, we help customers improve and streamline the insurance placement process creating a more efficient and productive environment. For more information, visit www.lexisnexis.com/insuranceexchange.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions (www.lexisnexis.com/risk/) is a leader in providing essential information that helps customers across all industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced scoring analytics, we provide products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a leading publisher and information provider that serves customers in more than 100 countries with more than 30,000 employees worldwide.