Innovation Insurer 7.0

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Solution overview
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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

Africa

South Africa

Americas

Canada , United States

Asia Pacific

Australia , New Zealand

Europe

France , Germany , United Kingdom

Technical information

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Hardware/OS platforms

AIX 5.3
   IBM System p (pSeries)
Windows Server 2003 (inclusive)
   IBM System x (xSeries)
AIX 6.1
   IBM System p (pSeries)
AIX 7.1
   IBM System p (pSeries)
   IBM System i (iSeries)
   IBM Power Systems
   IBM PureFlex System
Services

Business Solutions: Application Innovation
Storage devices

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