CIME Chooses to Partner with Keal Technology to Power New Premium Finance Subsidiary, CIMCO Capital Inc.

CIMCO Capital Inc. to manage business with Keal’s premiumXP application

MONTREAL, Quebec, Canada – November 24, 2010 – Today at the 37^th Annual RCCAQ Convention, Quebec insurance replacement leader CIME announced they will be launching a new premium finance subsidiary, CIMCO Capital Inc., next January. CIME and Keal Technology, leading software provider for insurance and financial services brokers, have entered into a partnership to benefit Quebec brokers.

 CIME Group’s services will now include financing of insurance premiums through CIMCO Capital Inc. CIMCO Capital Inc. will offer their brokers a modern, secure and efficient alternative to existing premium finance providers in the marketplace. Keal Technology’s premium finance software, premiumXP, has been selected by CIME to manage CIMCO Capital Inc.’s operations, including a broker self-serve web interface. Keal Technology has selected CIMCO Capital Inc. as their premium finance partner in the Quebec market.

 “Over the last 10 years, our clients have been asking us to offer premium financing and we’re now happy to include this new service that will be launched early next year,” commented Mario Lortie, president, CIME. “We chose to partner with Keal because they offer state of the art technology that is well developed to serve our new business venture. premiumXP gives us a competitive advantage; without a secure system we would not be in business.”

 CIMCO Capital Inc. broker clients using Keal’s flagship Broker Management System (BMS), sigXP, have the added advantage of seamlessly transferring data directly out of sigXP into CIMCO Capital Inc.’s broker web interface, powered by Keal’s premiumXP. The no fee integration will generate a quote in seconds without duplicate data entry required. Brokers simply click a button in sigXP and the required client information auto-populates CIMCO Capital Inc.’s website with no data entry required.

Using CIMCO Capital Inc.’s broker self-serve web interface, powered by premiumXP with or without sigXP, brokers have the ability to:

• generate, save, and review quotes,
• issue and/or review contracts,
• process endorsements and renewals,
• change account information including: address, policy number, and EFT details and;
• modify insureds payment information as needed.

“We’re excited to enter into a new partnership with CIMCO Capital Inc. to lend our technology expertise to benefit brokerages in Quebec and offer Keal clients a new option for premium financing.” said Pat Durepos, president of Keal Technology. “Brokers are faced with increased competition from direct writers. Offering premium financing to insureds helps brokers win and retain more business. Keal and CIMCO Capital Inc. clients will have the added advantage of system integrations making them 90% more efficient.”

 CIME president, Mario Lortie, (located at booths #78-79) and Keal Technology, president, Pat Durepos (booth #85) will be available for comment at the RCCAQ conference.

 About Keal

Keal is a 100% Canadian software application developer exclusively servicing Canadian insurance and financial brokerages, in both official languages. Keal offers brokers an end-to-end integrated suite of management systems to streamline workflows and increase profitability. As a Microsoft Gold Certified Partner and Citrix Ready Partner, Keal products are technologically advanced and flexible, utilizing SQL architecture. Products include: broker management system, sigXP; commercial management system, comXP; document management and scanning, dokXP; life insurance management, lifeXP; and premium financing management, premiumXP. Keal is the exclusive distributor for Nexisys, providing a single entry multiple company interface (SEMCI). Keal was the recipient of a 2010 Insurance-Canada Technology Award recognizing the integration between sigXP and blueButler call recording software. Keal offers workflow consulting using industry best practices and partners with vendors and insurers to strengthen Canadian brokers.  Keal is headquartered in Concord, Ontario with offices across the country.  For more information visit www.keal.com

 About CIME

Leader in its business line over the past 10 years, CIME Group is specialized in the marketing, administration and financing of insurance replacement products. Its new subsidiary, CIMCO Capital, offers specialized premium financing services and programs to its insurance broker customers. Through more than 650 insurance brokers, the largest distribution network in Quebec, CIME’s insurance products and services are extremely competitive and advantageous while customer service is recognized as the industry reference. For more information, visit www.cimeinc.qc.ca.

For more information:

 

Shannon Major

Marketing and Communications Manager

Keal Technology

Phone: 1.800.268.5325, ext. 2588

Email: shannon.major@keal.com

 

Gabriel Ethier

Vice-President

CIMCO Capital Inc.

Telephone: 1.866.820.2463

Email: gabriel.ethier@cimcocapital.net