Brovada launches Nexisys, NexQuote in Quebec with Groupe Ultima

March 26, 2008 – Brovada is pleased to announce that its NexQuote (comparative rater) and Nexisys (broker connectivity) solutions are currently in trial and will go live early this spring with Groupe Ultima. Groupe Ultima chose Brovada because of the functionality of their solutions, their ability to successfully get solutions to market and their relationships with the insurers.

"Since the founding of our company 25 years ago, Groupe Ultima’s mission has always been to bring innovation and to offer our network state-of-the-art solutions in order to respond rapidly and efficiently to the needs of our customers. We are now on a forefront momentum with the implementation of this innovative solution for our brokers, with the support of Brovada which has been able to understand our needs and therefore develop solutions that will enhance the industry’s standards to a higher level." says René Vocelle, President and General Manager of Groupe Ultima.

“Ultima is a great partner to premier our Nexisys and NexQuote solutions into the Quebec marketplace. Their large base of brokers and their commitment to technology assures the success of our solutions to the rest of the Quebec marketplace.” says Karl Greenlaw CEO of Brovada.

Until recently brokers in Quebec utilized a legacy approach to connectivity where Brokers keyed information directly into insurer backend systems. However, investments over the last couple of years by the insurers in Quebec have them now providing better or equivalent technology used elsewhere in Canada. For Ultima and other brokers using systems such as Nexisys and NexQuote they will benefit from working completely within their systems without the need to work in an insurer web portal.

Nexisys provides single sign-on, inquiry, new business and endorsement transactions into insurer systems. Nexisys is currently installed across the rest of Canada in over 250 brokerages. It supports over 40 insurer systems and averages 15,000 transactions per month.

NexQuote is the first commercial and personal lines comparative rater that receives its rates directly from insurers in real-time. Several major insurers are already implemented and others are in the process of joining. For the 95%+ of commercial brokerages using word and excel to supplement their brokerage management systems (BMS), NexQuote provides a powerful alternative that interfaces directly with their BMS. NexQuote is currently being piloted at several brokerages and will be widely available this quarter to all brokerages.

Founded in 1983, Groupe Ultima has positioned itself as the leading group of brokers in the industry of the Quebec market. Its success relies on a team of experts representing 1200 employees located in 15 offices throughout the province of Quebec offering insurance products and services to individuals and businesses. Groupe Ultima offers to its insurance brokerage firm members various tools to insure their growth, exclusive insurance programs, many services (risk management, training and sales mentoring), as well as state-of-the-art technology solutions designed for the specific needs of the insurance industry. The head office of the Groupe Ultima is located in Montreal and its website can be viewed at www.ultima.qc.ca.