EDDYSTONE, Pa.--(BUSINESS WIRE)--InsPro Technologies LLC, a leading provider of core policy administration software for Group and Individual Life, Health, and Annuity products that enables insurance carriers and third-party administrators to quickly respond to evolving market needs, improve customer service, and reduce operating costs, today announced its inclusion in Software Magazine’s 2016 Software 500, now in its 34th year.
As a revenue-based ranking of the world’s largest software and services suppliers, the Software 500 provides a detailed look at changes in the software industry from a revenue, employee, and research and development (R&D) perspective. Based on each company’s 2015 fiscal year reports, the total software and service revenue for the 2016 Software 500 totaled $705.8 billion, down 5.7 percent from $748.7 billion reported in the 2015 Software 500.
“We are pleased to be selected to the Software 500 list for a fourth consecutive year,” said Donald R. Caldwell, Chairman and Chief Executive Officer of InsPro. “This ranking serves as a pleasant reminder for all of InsPro’s employees that our hard work, commitment, and dedication can be directly attributed to sustaining our growth year over year, which is quite an impressive accomplishment.”
Anthony R. Verdi, Chief Financial Officer of InsPro added, “Considering the 5.7% decrease in overall revenues from the 2015 to 2016 Software 500, InsPro’s strong performance and continued growth in a challenging environment is something we should all be proud of.”
For additional information on the 2016 Software 500, please visit their website at http://www.softwaremag.com/2016-software-500-companies/.
About InsPro Enterprise
InsPro Enterprise, a Life and Health insurance policy administration system, is a single technology solution used to manage all insurance processing requirements supporting multiple product lines as well as hybrid products for both group and individual policies on a single web-based platform. The InsPro Enterprise design provides carriers the option to deploy the solution as an end-to-end straight through processing suite or on a modular, componentized basis to address immediate areas of concern. The InsPro Enterprise suite includes Product Configuration Workbench, New Business and Underwriting, Billing and Collections, Policy Administration, Agent Management and Commissions, Claims, Document Management, Web Portals, and Data Analytics components.
About InsPro Technologies Corporation
Through its subsidiary, InsPro Technologies, LLC, InsPro Technologies Corporation offers InsPro Enterprise, an end-to-end, web-based policy administration system used by insurance carriers and third-party administrators. By managing the entire product and policy lifecycle on a single integrated platform, customers are afforded opportunities to accelerate new product introductions, lower costs, increase customer satisfaction and improve operational performance. InsPro’s solutions are offered through standard software licensing, as a hosted solution, or via Software as a Service (SaaS) delivery.
For additional information on InsPro Technologies, LLC and InsPro Enterprise please visit www.inspro.com.
In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995, including statements regarding current and future capabilities and products supported, growth in the number of clients, quality and growth potential of our technology platform, including related services, and providing the financial support and other resources needed to demonstrate the strength of this growing technology business and to continue to reinvest in the product. Forward-looking statements provide InsPro Technologies Corporation’s current expectations or forecasts of future events. Moreover, InsPro Technologies Corporation cautions readers that forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from the statements made, including risks described in InsPro Technologies’ most recent Quarterly Reports on Form 10-Q or Annual Reports on Form 10-K filed with the Securities and Exchange Commission and available on the Securities and Exchange Commission’s website at www.sec.gov. InsPro Technologies Corporation does not undertake any obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.