The year 2023 marked a transformative journey not just for the insurance sector but also for you, our esteemed customers, and for us at Evolution Global, Inc.
This year has been a whirlwind of change, with Evolution Global's emergence as a distinguished brand, proudly associated with innovative products such as FileTrac Evolve, featuring new enhancements. We are also eagerly anticipating the expansion of the Evolve Platform in the near future, which promises exciting developments using advanced technology for a seamless work experience. We celebrated our successful migration to AWS as part of this transformative journey. Despite facing challenging times with CATs, our collective experience underscores the dynamic and exhilarating nature of our industry.
Amidst this backdrop, we've intensified our commitment to shaping the future of insurance claims management. With cost factors as dynamic as the market itself, we've been agile in realigning our operational strategies.
From the onset, Evolution Global has been fueled by an unwavering commitment to integrity, customer value, and product excellence. As we pivot into 2024, our enriched offerings are a testament to years of industry engagement and expertise. Our leadership, bolstered by over seven decades of experience in Insurance, Underwriting, and Claims, has been pivotal in refining our offerings for maximal industry impact.
We understand that change can be daunting. Therefore, we've designed our new pricing structure with your best interests at heart. If you are an existing customer with a current SaaS agreement, rest assured, you have the option to continue with the current pricing and terms throughout 2024. Additionally, we will introduce specific cost adjustments that apply universally, irrespective of your subscription model.
Our new pricing plans are not a one-size-fits-all offering. They are designed to be flexible, to offer unparalleled value, and to be future-proof. We've already onboarded several clients onto this new pricing scheme, and the initial feedback has been overwhelmingly positive. Please note that all pricing and pricing details are now transparently available on our website at https://evolution.global/pricing.
Although we aim to offer the most cost-effective claims management solutions, "low cost" in our lexicon does not translate to "low value". Quite the contrary, our R&D teams are committed to continual improvement. Starting this month, expect regular monthly updates to the Evolve platform. To ease your transition, any feature releases that could affect your existing workflows will be accompanied by on-screen walk-throughs to effectively eliminate work interruption.
As we step into 2024, we're thrilled to unveil refined pricing and support structures tailored to meet the evolving needs of the insurance industry. Transparency is a cornerstone of our approach, so we've made all pricing details readily accessible on our website at Evolution Global Pricing. While the names of our tiered plans have been updated to better reflect their features and benefits, rest assured that monthly minimums, claims/appraisal fees, and included claims/appraisals remain consistent with your 2023 and earlier SaaS Agreements. In addition, we've fine-tuned service fees and introduced specific support plans across all tiers.
To explore the specifics, please visit our Pricing and Support Plans page. Here's a snapshot of what's new:
· Plant Plan (formerly Tier 7) now includes Basic Support
· Grow Plan (formerly Tier 6) includes Basic Support
· Build Plan (formerly Tier 5) includes Basic Support
· Adapt Plan (formerly Tier 4) includes Basic Support and is upgradeable
· Sustain Plan (formerly Tier 3) includes Basic Support and is upgradeable
· Business Plan (formerly Tier 2) includes Business Support and is upgradeable
· Business Plus Plan (formerly Tier 1) includes Business Support and is upgradeable
· Enterprise Plan (new) includes Enterprise Support
· Enterprise Plus Plan (new) includes Enterprise Support
Effective January 1, 2024, we're implementing some pricing adjustments that apply universally to all customers:
· Document Storage Fees: Reduced to $0.15 per GB
· User Fees: Reduced to $0.15 per user
· Credit Card Fees: Eliminated the 3.5% charge
· Convenience Fee: All payments, irrespective of the method, will now carry a 2.5% fee
· Sales Tax: Applicable at local rates where necessary
Starting November 1, 2023, you can transition to any new plan to leverage additional savings and features. This includes our new annual plan offering one free month when paid in full upfront—a significant cost-saving opportunity for many. For any modifications or inquiries, our Global Connect Team stands ready to assist. Changes will be reflected in the next billing cycle.
As part of our ongoing mission to enhance efficiency and value, Evolution Global is making a significant shift in our payment processing methods, one we believe aligns well with the digital transformation trends in the insurance industry. For a decade, we've manually processed payments, an approach that has not been without its challenges—be it bounced checks, expired credit cards, or clerical errors. Recognizing the importance of streamlined financial transactions for both our customers and ourselves, we are moving to an all-electronic payment system starting in 2024, leveraging Stripe, a global leader in online payment solutions.
The transition will unfold in three strategically designed phases to ensure a smooth user experience. Phase 1 kicks off with the integration of payment links directly into our invoices, offering you the immediate ability to set up an account and initiate payments. In Phase2, we elevate the process by introducing electronic invoices and shifting all payment operations to the secure Stripe Customer Portal. The culmination, Phase3, will integrate all invoicing, pricing adjustments, and payments into our bespoke Evolve Stripe Portal, offering you unparalleled control and ease of use.
Starting with Phase 1, we will discontinue the acceptance of checks. Importantly, your financial data will be securely housed on Stripe’s compliant servers, providing an additional layer of security while relieving Evolution Global of direct access to this sensitive information. We will communicate detailed timelines for each phase one month prior to its roll-out, enabling you to plan and prepare accordingly.
We are confident that this upgrade will fortify our mutual success by elevating the safety, efficiency, and flexibility of our financial transactions. Thank you for your ongoing partnership as we continue to evolve to better serve you.
As Evolution Global forges ahead, keeping pace with the dynamic landscape of the insurance industry, it's crucial for us to stay aligned with the key personnel overseeing various facets of your operations. To that end, our Global Connect Team will be initiating outreach to identify and engage with the primary contacts in the following key areas of your organization:
· Primary Account Contact: The go-to person for all contractual matters and product-related decisions.
· Billing Contact: If distinct from the Primary Account Contact, this individual will be responsible for overseeing all invoicing and payment matters.
· Technical Contact: Should this role be separate from the Primary Account Contact, this person will be your point of contact for all technical discussions and requirements.
This targeted approach ensures that our communication channels are both efficient and effective, streamlining our collaborative efforts to innovate within the ever-evolving insurance claims landscape.
Before we close out 2023, you can expect a few more surprises:
Say “hello” to EVO-X, our AI engine and conversational AI, powered by OpenAI.
Speak, write, create, and redefine your work.
All new Evolve Dashboard with EVO-X. Tailored for the way each user works and connects.
Introducing your Evolve Workspace. This all new Linked Companies Page provides each user with the individual and organization claim data, overdue, coming due and received.
With so much still happening this year, we mind you to stay up to date with the latest from our team by going to our website at https://evolution.global
As we look ahead to 2024, the horizon is teeming with promise and transformative potential for the insurance industry. Evolution Global is excited to be at the forefront of this innovation. Our upcoming suite of features is designed to redefine how we all work and connect. From expanded AI functionality that accelerates decision-making, to FTFusion which will streamline the transition of claims between companies, we are focused on delivering next-level efficiencies.
Furthermore, new integrations and messaging components, along with a comprehensive bi-directional email system—including designated claim email addresses—promise to simplify your communications. Enhanced texting capabilities, a revamped tasks component, and intelligent Evolve notifications are just a glimpse of what we are bringing to the table.
It is an honor to serve our valued customers and the broader insurance industry as we collectively embark on a journey to evolve claims management in ways previously unimagined. Thank you for your ongoing partnership, and here's to a groundbreaking 2024.