InsPro Technologies Corporation (OTC Bulletin Board: ITCC), a
leading software innovator and provider of an insurance administration
and marketing system, InsPro Enterprise, used by insurance
carriers and third party administrators, that supports individual and
group business lines and efficiently processes agent, direct market,
worksite and web site generated business, today announced its financial
results for the quarter ended September 30, 2012.
Third Quarter 2012 Highlights
Year to Date 2012 Highlights
Anthony R. Verdi, Chief Executive Officer, stated, "The continued
significant growth of revenue and improving financial results only
begins to tell our story in 2012. We are successfully achieving
important milestones this year on four new implementations of InsPro
Enterprise and at our recent Executive Forum we unveiled the
initial version of our upgraded platform which adds Annuity product
support to our capabilities. We remain committed to the partnership with
our clients and to providing the premier results driven end to end
technology solution for insurance companies and administrators."
About InsPro Enterprise
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. InsPro Enterprise
was designed as a single technology solution to manage all insurance
processing requirements and built from the ground up to support both
group and individual policies. 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.
About InsPro Technologies Corporation
Through its subsidiary, InsPro Technologies, LLC, InsPro Technologies
Corporation offers InsPro Enterprise software, 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 IT support
costs, increase customer retention, 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 the effects of existing and
new clients, our prospect pipeline, and the investments in and potential
of our technology platform. Forward-looking statements provide InsPro
Technologies Corporation 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 Corporation's most recent Quarterly Reports on Form 10-Q or
Annual Reports on Form 10-K filed with the Securities and Exchange
Commission. These documents are 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.
Series A convertible preferred stock; 3,437,500 shares authorized,
1,276,750 shares issued and outstanding (liquidation value
Series B convertible preferred stock; 5,000,000 shares authorized,
2,797,379 shares issued and outstanding (liquidation value
Common stock ($.001 par value; 300,000,000 shares authorized,
41,543,655 shares issued and outstanding)
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