iLOOKABOUT is about to benefit from a significant software service being rolled out to the insurance industry in Ontario. The solution is called iClarify and will be available to about 700 broker offices in the province by the end of June. The deployment comes on the heals of a successful 30-day pilot where 37 broker offices generated approximately 40,000 queries over that timeframe. We believe that iLOOKABOUT should generate somewhere between $1.00 and $4.00 per query as the solution goes live. Ontario alone should have as step function impact on both revenue and earnings starting this quarter (which is fiscal Q3). Its solution partner SCM announced that both Quebec and British Columbia launched pilots for June. Investors could infer that, if the BC and PQ pilots show similar metrics to Ontario, then there is a good possibility that these provinces will be soon rolled out.
Notwithstanding, the revenue and earnings impact of the iClarify project to iLOOKABOUT is not currently priced into the stock. Please see my initiating report on behalf of MPartners published earlier this month.
I do not own shares of ILA.
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