- Mission & Vision
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In concert with our clients and world class distribution partners we seek to change the insurance buying process for the better for all parties involved.
- Our Goal
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Our goal is to improve the insurance procurement process through the application of our specialized knowledge, technology, process management skills, and distribution partner talent. - Reach Us
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iXchangeTM LLC
14 Steeple Chase,
Suite 401,
Bedminster, NJ 07921
P: 908-234-1968
C: 908-295-9290
E: info@theixchange.com
Hello & Welcome
Procedures & Technologies
Technology is changing the way in which corporations procure goods. The use of electronic auctions has significantly reduced the costs of many commodities that corporations purchase, and the "art" of spend management and Group Purchasing Organizations (GPO's) using electronic auctions is becoming common among private equity firms.
The use of electronic auctions to procure sophisticated corporate services has begun to take hold. It is a much more complex task to use electronic auctions to procure legal, accounting, or insurance services this way, and there are few firms familiar with the complexities of the process.
The iXchangeTM is a new firm created by "spend managers" from a large private equity firm who spent 3 plus years in managing electronic auctions in the property casualty insurance sector. They spent over four years creating specialized electronic auction protocols and developing relationships with and generating the enthusiastic participation of the "best and brightest" insurance distribution partners.
The results in terms of cost savings and quality of distribution partner services were outstanding. The iXchangeTM is dedicated to the support of electronic auctions in the commercial insurance space. Its principals have a proven and unique record in managing electronic auctions in the insurance industry.
Who We Are
- Our team pioneered the art of commercial insurance "spend management" for a large private equity firm.
- Our proprietary protocols were developed and tested over a four year period.
- Our auctions are designed to select the best and brightest distribution partners available to buyers of commercial insurance.
iXchangeTM Process
- Agree expectations for timing and date of auction.
- Sign off on list of auction participants: i.e., brokers or insurers.
- iXchangeTM works with the majority of major brokers and insurance companies and can work with your incumbent as well.
iXchange Partners
iXchangeTM Login
FAQ
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What is the principal objective of this business?
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What are the significant differences in using an electronic auction in the procurement of goods compared to procurement of services like insurance?
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Why should a auction be considered in procuring property/casualty insurance?
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Will an auction work in a "hard"market as well as a "soft"market?
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How does the process and iXchangeTM relate to the CIAB sponsored Lexis Nexus Electronic Exchange?
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What are the iXchangeTM qualifications?
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How do you structure a electronic auction for insurance?
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What are the financial requirements for a electronic auction?
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Who are good candidates for commercial insurance auctions?
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What does iXchangeTM charge it's broker partners or direct clients to run an auction?
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Who else provides electronic procurement services?
