Policy Administration: Managing Distribution and Portfolio Shift in Turbulent Times
[ Source: Oracle Insurance ]
May 2009-
Recent market events have highlighted that the insurance industry must always be prepared for shifts in business climate. Yet in these cost-conscious times, many insurers are reluctant to invest in the systems that will support rapid changes in strategy and direction. How can you contain costs while still achieving the business agility that is critical to survival in today’s market?
Learn how a completely Web-based, rules-driven policy administration system can help you:
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The Case for a Stand-Alone Rating Engine -- An Oracle Insurance Brief
[ Source: Oracle Insurance ]
April 2009-
In the current economic climate, insurers are looking for ways to expand their distribution and sales channels, while still keeping their costs down. How can you accomplish both? A Web-based, stand-alone rating engine can give you the scalability you need to expand and grow, while providing the online rating capabilities your agents demand. What's more, de-coupling rating from your policy administration system, and consolidating multiple rating engines, reduces IT costs and duplication of effort. ....
Managing Risk Intelligently: How to Leverage Business Intelligence to Improve Risk Management and Boost the Bottom Line
[ Source: Insurance & Technology ]
March 2009-
As the global economic crisis continues to batter the financial services industry, insurers’ very survival increasingly depends on their ability to manage risk. By weaving analytics into the fabrics of their organizations, innovative carriers are turning their massive stores of data into actionable intelligence, gaining a more complete view of their risk exposure and driving greater profitability to the bottom line.
Decision Management for Insurance: Revenue-Generating Decisions Begin at the Point of Sale
[ Source: FICO ]
January 2009-
A new generation of technology solution—Decision Management—is bringing revenue-generating decisions to the point of sale with precision pricing and straight-through processing.
In this white paper, you'll learn how Decision Management can deliver deeper insights into risk exposure, enabling you to expand risk tiers, assign more accurate pricing and rapidly bring innovative products to new markets. You’ll also see how Decision Management can help you contain costs by allowing business users to implement business rule ....
Smarter Underwriting: New Strategies for Cost Control and Pricing Precision Using Decision Management
[ Source: FICO ]
January 2009-
Today insurance carriers are extending the efficiencies achieved through back office automation to point-of-sale (POS) decision making across all channels, including self-service websites, in-house sales and agent/distributor networks. New Decision Management solutions not only facilitate straight-through-processing, by improving the quality of inbound data, they also increase the accuracy, objectivity and consistency of underwriting and application decisions, even when business volume is rising rapidly. In addition, by providing deeper insights into loss risk, Decision Management enables ....
Modern Policy Administration Systems Require Modern Implementation Methodologies
[ Source: Camilion Solutions, Inc ]
December 2008-
The insurance industry is rife with anecdotes of late or failed implementations and millions of dollars lost in the process. In the Celent report "The 18 Month Rule: Avoiding The Endless Project" (Nov. 2006), it was noted that “between 30% and 80% of all large projects fail, with most estimates coming in on the higher side of this range.” But it doesn’t have to be this way –- implementations of modern policy admin systems can ....
Buckeye Insurance Group Achieves Growth and Expense Objectives with New Administration System
[ Source: Insuresoft ]
June 2008-
The experience of Buckeye Insurance Group shows how replacing a legacy policy administration system with a single solution vendor, capable of cost-effective end-to-end application maintenance outsourcing, can support achievement of growth and expense business objectives. Successful utilization requires a vendor with solid base functionality and robust architecture and a client company with strong corporate commitment to using the system as designed and migrating to new versions as the system evolves.
Advancing Agent Connectivity: The 5 levels of maturity
[ Source: iter8 Inc. ]
June 2008-
Excellence in agent connectivity is rarely, if ever achieved. Rather it is a work in progress, one which is in flux as the carrier develops from one level of maturity to the next, always increasing effectiveness and efficiency, and thereby, profitability. Fortunately the cost-benefit ratio of advancing agent connectivity is highly favorable for the carrier, with relatively small investments, wisely deployed, yielding substantial returns in short order. Agent Connectivity is without ....
Cars and Trucks Are Talking: Why Insurers Should Listen
[ Source: Diamond Management & Technology Consultants ]
May 2008-
Automotive “telematics” such as event data recorders, global positioning systems, and other emerging innovations could save auto insurers $20 billion in annual claims payouts, or 17 percent of personal lines auto insurance losses each year. These savings will be the result of lower legal costs, more accurate insurance premiums, more efficient claims processing, fewer fraudulent claims, and new revenue from new monitoring and risk prevention services. But the road ahead presents challenges, too. ....
Nevada General Insurance Company & The Diamond Data Warehouse from Insuresoft
[ Source: Insuresoft ]
May 2008-
Managing data became an integral part of why Nevada General Insurance Co. (NGIC) selected The Diamond System from Insuresoft as their policy processing insurance software system. Not only would Diamond help process NGIC’s policies, handle claims, billing and rating, but Diamond also provided NGIC with a central repository for data that would house past and future transactions in one area – The Diamond Data Warehouse.