LexisNexis Insurance Exchange Buys MarshBerry Sales Portal

October 3, 2011

LexisNexis Risk Solutions has acquired the Sales Portal from MarshBerry, the insurance consulting and merger and acquisition advisory firm. The Sales Portal is a sales management automation tool used by larger brokerages that will now be offered by the LexisNexis Insurance Exchange.

The Sales Portal automates three aspects of the sales process: lead management, pipeline management and service timelines.

The LexisNexis Insurance Exchange is a collaborative insurance placement system designed to streamline the exchange of data and documents among agents, brokers, wholesalers and carriers.

According to the two firms, insurance brokerages currently utilizing the Sales Portal write more than $1 billion in aggregate commission income.

“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,” said John Wepler, president, MarshBerry.

Peter Lynch, president, LexisNexis Insurance Exchange, said the acquisition will allow his firm to extend the Insurance Exchange to allow its users access to their customer data within the Exchange and streamline their workflow and processes as a result.

For brokers and agents already using the Insurance Exchange, the Web-based Sales Portal adds sales management capabilities and tools for new business development and account retention. The technology tracks producer sales activity and manages service commitments relative to customer accounts. The platform maintains ongoing client service through internal tracking and compliance mechanism combined with external communications and reporting.

Sales Portal is the first sales management tool to be offered to Insurance Exchange customers. Insurance Exchange also a Market Finder application, which brokers can use to gain access to detailed carrier risk appetites and data requirements automatically at the time a broker selects a market.

Regina Haas, media and analyst relations director for LexisNexis, said the Exchange will further “evolve and expand” beyond its current offerings.

LexisNexis Risk Solutions is part of Reed Elsevier, a global publisher and information provider.

For more information, visit www.lexisnexis.com/insuranceexchange <http://www.lexisnexis.com/insuranceexchange> .

Topics Mergers Agencies

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