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Innovation Insurer, is an integrated browser-based suite that includes Policy, Claims and Insurance specific Analytics functions in one suite. It allows companies to choose complete, end-to-end applications or, alternatively, functionally rich, stand-alone business components that leverage their existing IT investment.

The product is a stable, proven and scalable solution that has rich functionality that is continually enhanced to incorporate emerging market trends via a well defined Product Management process. Our wide array of portals provide a rich set of functionality that support an array of roles from customer, service centre, assessors, repair shops, or other partners.

Insurer Policy is functionally-rich, enterprise-wide JEE-based, SOA-certified, rules-based full policy management solution includes portals including direct, underwriting, billing, reinsurance and insurance-specific analytics. With 80% top 20 insurers as customers, we incorporate best practices that “future-proof”, providing a cost-effective solution for all companies.

Insurer Claims provides end-to-end claims management for P&C insurance, including FNOL, claims segmentation and assignment, integrated fraud detection, subrogation support, supply chain management, and claims reporting dashboards.

Insurer Analytics is a functionally-rich out of the box Business Intelligence suite with a comprehensive set of standard reports and KPIs built specifically for Insurance.

Business information

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  • + Functional details

    Insurer Policy

    • Sales - Quote/Conversion
    • Underwriting - approval/referral
    • Administration - back office
    • Billing/Collections - premium mgt
    • Rating - pricing policy mgt
    • Policy /Channel Management - MTA/MTC; Agent Commissions
    • Audit - comprehensive auditing capability

    Insurer Claims

    • First Notification - incident recording
    • Vehicle/Property Damage - repair mgt
    • Injury - injury mgt
    • Litigation - legal mgt
    • Investigation - counter fraud

    Insurer Analytics

    • Portal/Dashboard - results distribution
    • Analytics - data mining
    • Reporting - Insurance specific reporting
    • Monitor (KPIs) - exception reporting

  • + Business problem

    The challenges faced by Insurers include:

    • Market consolidation
    • Rising cost inflation
    • Increased price competition
    • Reduced customer loyalty

    These changes have fundamentally re-shaped the sector, placing unprecedented pressure on margins.

    The internet, as a means to both distribute and interact with customers, has shifted the ground further and predictive/responsive use of data has delivered further competitive opportunity.

  • + Business opportunity

    The challenges faced by Insurers are significant, and include:

    • Market consolidation
    • Rising cost inflation
    • Increased price competition
    • Reduced customer loyalty

    These changes continue to fundamentally re-shape the insurance sector, placing unprecedented pressure on margins, yet creating opportunities for those prepared to respond.

    Our team is comprised of insurance, business and technology experts who have extensive experience in insurance operations. We have designed and delivered business solutions for a wide range of providers, delivering measurable results in insurance operations – including:

    • Delivering product to market at a faster pace
    • Increasing margins through flexible underwriting
    • Enhancing customer service (and subsequent retention)
    • Reducing operational expense
    • Identifying and eliminating leakage through industry specific analytics
    Our solutions provide operational value now, and, longer-term sustainable value to power the growth and agility needed to respond to future market changes.

  • + Return on investment

    Our team is comprised of insurance, business and technology experts who have extensive experience in insurance operations. We have designed and delivered business solutions for a wide range of providers, delivering measurable results in insurance operations – including:

    • Delivering product to market at a faster pace
    • Increasing margins through flexible underwriting
    • Enhancing customer service (and subsequent retention)
    • Reducing operational expense
    • Identifying and eliminating leakage through industry specific analytics
    Our solutions provide operational value now, and, longer-term sustainable value to power the growth and agility needed to respond to future market changes.

  • + Competitive advantage

    Insurer Policy

    • Design, configure, test and deploy new products in days
    • Leverage flexible and efficient tools for workflow management
    • Quickly and easily model the impact of rate changes
    • Comprehensive financial balancing and auditing
    • Rapidly integrate books of business

    Insurer Claims

    • Reduce direct and indirect cost
    • Eliminate errors and delays in claims processing
    • Improve control and consistency of supply chain
    • Increase productivity of Brokers, Agents and other Handlers
    • Save money - identification of potential Fraud or Subrogation opportunities

    Insurer Analytics

    • Identify best practice through automated KPIs
    • Insurance Specific reporting suite
    • Identify the ‘reasons why’ through non-aggregated data mining
    • Share important information
    • Save money - focusing management effort

  • + Industries

    Insurance Industry
       Insurance Carriers - Property & Casualty (P&C)
       Insurance Intermediaries

  • + Solution areas

    Insurance
       Administration Systems and Services
          Claims Administration
          Policy Administration
       Core Insurance
       Other
    Cross industry
       Business Intelligence
          Data Mining
          Data Warehousing
          Financial Analysis
          Fraud Management
          Relationship Marketing
          Sales Analysis
          Other
       Computer Services
          Host management

  • + Customer size

    Small Business (50 to 99 employees)
    Midmarket Business (100 to 499 employees)
    Midmarket Business (500 to 1000 employees)
    Large Business (greater than 1000 employees)

  • + Languages supported

    Danish
    English
    French
    German
    Japanese
    Spanish; Castilian

  • + Countries/regions available for distribution

    South Africa

    Canada , United States

    Australia , New Zealand

    France , Germany , United Kingdom

Technical information

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  • + Hardware/OS platforms

    AIX 5.3
       IBM Systems: System p
    Windows Server 2003
       System x
    AIX 6.1
       IBM Systems: System p
    AIX 7.1
       IBM Systems: System p
       IBM Systems: System i
       IBM Systems: Power
       IBM PureSystems: PureFlex System and Flex System

  • + Services

    Business Solutions: Application Innovation

  • + Storage devices

    Disk Storage Systems
       IBM System Storage DS4000 family (formerly FAStT)
       IBM System Storage DS8000 family


Date last modified:    Apr 22, 2013


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Contact information

Robert Thomson, MD (UK); George Kyriakis, VP Marketing & Channels (North America); Ian Visser, Group Executive (Australia)
+44 (0)1489 794068 (UK )

Company

The Innovation Group
1300 Parkway
Solent Business Park
Whiteley, Hampshire PO15 7AE
United Kingdom

+44 (0) 1489 898 300

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