HARRISBURG, PA--(Marketwired - Jul 25, 2014) - Ritter Insurance Marketing ("Ritter") is pleased to announce the acquisition of IOIx Software in Nampa, Idaho. Founded by David Watton, an experienced health-insurance agent, IOIx Software designed web-based tools to assist agents with quotes, plan comparisons, subsidy calculations, enrollment, and client management. The company's focus aligned with Ritter's mission to provide agents with the services and tools they need to work faster, better, and smarter, and ultimately expand their business.
With their recently acquired assets and technology, Ritter formed a new company, eBroker Software, LLC ("eBroker Software"). On June 27, 2014, eBroker Software signed a Web Broker Entity ("WBE") Agreement with the Centers for Medicare and Medicaid Services ("CMS"). The Agreement grants eBroker Software permission to facilitate Affordable Care Act ("ACA") subsidized enrollments as an alternative to using the Federal Government's Health Insurance Marketplace directly. Although there are close to 50 WBEs, very few work with independent agents to facilitate ACA enrollment.
eBroker Software offers an alternative for agents who would otherwise send clients in need of health insurance directly to the Health Insurance Marketplace and lose visibility of the process. David Watton, Founder and President of eBroker Software, explained, "Our software allows brokers to run their own quotes, estimate subsidies from the federal government for ACA enrollment, and facilitate enrollments, which originate from their own websites. It also provides agents with tools that allow them to manage their business much more efficiently. Because the software runs from the agent's web page, agents can build their own brand!" David continued, "We're excited to be able to enhance the repertoire of services that Ritter currently offers."
Craig Ritter, President of Ritter Insurance Marketing, affirmed, "We're very pleased to have acquired the assets of IOIx Software and its technology. We're excited to continue to serve the company's existing customers, further enhance the software, and make it accessible to agents and customers in new states. It's gratifying to be able to offer insurance agents such a simple way to do business. The innovative technology that David built will allow agents to quote and compare health plans, enroll individuals under the age of 65, and track and get paid commission -- all electronically and in one place."
eBroker Software currently operates in Idaho, Utah, and Arizona. In 2015, the exchange will expand into Texas, Pennsylvania, New Jersey, and Illinois. Craig concluded, "Our vision for eBroker Software is to become the premier platform that allows agents to enroll their clients in nearly any product that supports electronic enrollment, including supplemental and life products."
Ritter Insurance Marketing is a national Field Marketing Organization for Senior Insurance Products. Agents affiliated with Ritter produced more than 40,000 Medicare Advantage and Medicare Part D enrollments during the 2014 Annual Enrollment Period from October 15 through December 7, 2013. With more than 83 employees and 12,000 actively appointed agents, Ritter solves the distribution needs of more than 70 insurance companies.
- Technology & Electronics
- Health Insurance Marketplace