Business agility success story – Claims Management: WorkSafe Victoria
Watch this video to find out how WorkSafe Victoria has improved:
- Processing and settlement of claims resulting in reduced costs and shorter payment cycles.
- Efficiencies and productivity of agents achieving 85% Straight Through Processing.
Business agility in Insurance
Top challenges
Insurance companies of all types and sizes globally are looking to streamline their processes to drive growth, improve expense ratios and compete effectively in mature and emerging markets. To achieve this, carriers must address some pressing challenges including:
- Eliminating process silos that hamper operational efficiencies
- Creating processes that deliver greater agility and transparency
- Solidifying distribution and self-service channels
Where we can help
We help insurers worldwide build agile processes resulting in speed to market gains, rapid product development, higher pass-through-rates and greater transparency to drive profitable books of business. Websphere software and solutions for insurance are widely used by carriers to:
- Improve operational efficiencies and effectively enforce risk management practices across processes and LOBs to sustain profitable growth.
- Enhance agency/consumer interactions and build innovative portals that foster up-sell and cross-sell opportunities and increase sales conversion, retention and acquisition rates.
- Strengthen customer relationships with relevant and timely insights resulting in higher customer wallet share and execution of marketing campaigns that reduce costs.
Popular downloads in Insurance
Insurance Webcast: Driving Growth in 2011, Insurance Carrier of the Future
This webcast features Barry Rabkin, Principle Analyst with Insurance Technology for Ovum, and Maneeza Malik, the Worldwide Industry Practice Leader for IBM. They discuss business and IT trends that will impact insurance carriers this year and beyond.
Demo: Dynamic responsiveness for insurance business processes
Optimize business processes in real time, provide agents and customers with the services they expect, speed new insurance products to market with end-to-end BPM built on IBM SOA
Insurers innovate and slash costs with Smart SOA Application Foundation.
This eBook will demonstrate how companies can modernize their application infrastructure to work smarter, reduce costs and roll out new services faster for every size business, no matter what industry you’re in.
Insurers driving agility and cost optimization with BPM
You'll read in this white paper that because of current market conditions, every insurer is under great pressure to both drive cost optimizations in its core business processes and become more agile and responsive as the market shifts.
Insurance 2020
Now what? Exploring initiatives for innovation. Insurers should move to adopt a new approach or new technology to address persistent operational challenges
Contact IBM
Featured case study
VKB Insurance builds a smarter policy cancellation process
