Traditionally, Insurance enterprises are characterized by dynamic service offerings, with new policies being constantly floated in tune with changing customer needs. They deal with large volumes of hard-copy documents like policy certificates, premium notices, receipts, unit statements and more while following stringent regulatory norms for claims verification, payout disbursement, etc. Today, the customer expects quick, personalized and efficient communications through email, Self-Care portals and Call Centers.
Advansys's Insurance practice has successfully delivered complex transformational projects which position us uniquely to deliver large, complex and business critical projects across the insurance value chain. Our success stories range from customer acquisition portals to claims transformation, actuarial modeling to distribution management. Our technical expertise leverages insurance solutions for risk modeling, portfolio management, business rule engines and process reengineering.
Through the power of IT, it is critical to attract and satisfy customers with new innovations while searching for operational efficiencies that will ultimately reduce costs. Advansys developed solutions for insurance companies including life and asset management and reinsurance firms that support many of the following critical business functions:
At Advansys we focus on providing property & casualty insurers with a suite of solutions to quickly optimize business processes. Our enterprise view takes into account the changes in today's market and concentrates on innovation, risk management, regulatory response and continued process improvement. This unique approach joins process efficiency with process excellence to define the key linkages that drive business outcomes and achieve best-in-class results.
Our service offerings augmented by our diverse P&C experience and alliance partner provide clients the full spectrum of IT services supported by our robust horizontal capabilities. The P&C focus solutions include P&C Claims, Policy Administration Systems Consolidation, Medical Claims Bill Management and Adjudication.
Demand generation, Quick quotes, Application data entry, Rate, Quote & Bind, Distribution channel, Commission and Incentive Management, and Agency Contracts management
Contact center Management, Lead, Opportunity and Issue management
First Notice of Loss, Policy coverage confirmation, Estimation and reserve, Authorization & settlement, Salvage and Subrogation, Catastrophe Claims Management, Bill Management, Service Provider Integration Verification , Rating, Policy writing, New product implementation,Policy issuance, Billing, Endorsement and Policy change, Cancellation, Reinstatements, and Renewals,
Policy accounting, Reconciliation, Internal & external reporting, Financial accounting, Statutory and Compliance reporting
Industry consolidation, regulatory pressures, shifting demographics and shrinking margins have increased the burden on enterprises in the insurance industry today. Additionally, tech-savvy customers demand high-tech solutions and self-service via the Internet, which in turn increases the demand for a unified customer experience across diverse sales and service channels. The need for innovative product development, streamlined processes and business agility is great than ever. These are precisely the strategies that Advansys can help you implement.
Also, Increasing need for streamlined underwriting and claims management for cost reductions and improved operational efficiencies ,Constant need for innovation to retain market position ,Enhanced self-service capability at all sales and service touch points ,Need for streamlined development, deployment and maintenance processes ,Need for a more responsive/agile IT to meet business needs and requirements etc are increasing clients duties.With our expertise and client-first mindset, we become a seamless extension of your organization, working collaboratively to help you create new capabilities, contain costs, mitigate risk and capitalize on new business opportunities.
As the economy recovers, the industry is pushing for more timely, accurate and relevant information, as well as flexible products that can be built and delivered quickly. To adapt, insurers are revamping fundamental business processes and creating new, IT-powered products. Enhanced analytics speed time-to-market and enable compliance with stringent regulations. The insurance operations from Advansys can enable your business to move from a document-centric operational approach to an automated and optimized process-centric model. Enable business strategies designed to increase your business agility, improve customer and agent response time, reduce costs, and optimize key skills and resources.
The insurance operations from Advansys can enable your business to move from a document-centric operational approach to an automated and optimized process-centric model. Enable business strategies designed to increase your business agility, improve customer and agent response time, reduce costs, and optimize key skills and resources.
Designed to help your insurance company lower costs and increase customer satisfaction by handling core functions—such as claims and policy processing—more efficiently, our solution can help you:
We create top-tier solutions that help increase workflow efficiency, reduce service and processing costs, and boost operational efficiency. We create channel and customer-interface solutions and core business solutions in multiple area and also develop comprehensive solutions for Enterprise Resource Management Systems.
Advansys's solution enables you to manage premium billing and receiving. It maps all business processes related to the payments providing you with a centralized view of all policyholders, business partners, and brokers.Our solution helps improve your customer satisfaction and minimize expenses.
We resolve the challenges and add value through:
We deliver results through a flexible, extensible application that provides smart, innovative agency administration. We conceptualize and build various assets that act as solution accelerators that we execute for our insurance clientele and includes the features such as Leveraging information effectively ,IT and Business Integration and Business process optimization .
Our services for the Insurance industry are backed by our extensive experience in web development solutions, dedicated competency centers in common web development platforms such as Microsoft,JEE,and a collaborative development process based on iterative / agile practices. We provide the winning edge to our insurance clients by leveraging our domain expertise, innovative solution accelerators and heritage of risk management for extracting fuller value from IT spend.Our clients benefit from the collective expertise of a deep pool of associates including domain specialists, solution architects, business analysts, technology professionals, regulatory specialists and package implementation specialists.