Insurance
The insurance industry is under extreme
pressure in today's marketplace. With a number of diverse
challenges such as stringent regulatory controls,
a massive change in consumer demographics and rising operational
costs, amongst others, facing insurers today, companies are
finding it difficult to position them appropriately.
The call of the hour is for brisk business decisions, an agile
business model and commercially viable processes that allow
insurers to maintain a sustainable growth in their profitability
while allowing them to maintain a steady competitive advantage.
Focusing on modernization & consolidation of the various operational
and transactional systems of companies, the IT organization
within the insurance company is constantly working towards
building a customer-centric model.
At Birlasoft, the insurance practice is primarily built around
these key challenges faced by insurers today. There is a deliberate
emphasis on aiding business transformation through technology
offerings, functional and product expertise as well as a proven
delivery standard of exceptional quality.
CLIENT CHALLENGES
Insurance companies, today, are offering
a variety of products such as Life and Health Insurance, Property
and Casualty Insurance and General Insurance, amongst others.
With a complex policy, claims and billing administration process,
companies are forced to overcome a number of challenges, in
day-to-day works, such as:
- A generally high cost of development and maintenance
of business applications
- Transformation and modernization of legacy applications
to meet business goals
- A pronounced need for compliance to increasingly growing
numbers of statutory and regulatory requirements as well
as reporting needs.
- Regular cost, quality, reliability and operational integrity
issues that require constant consideration
- Data and Business Process consolidation during Mergers
& Acquisitions
- The need for improved technical & operational efficiency
through Application Consolidation
WHAT BIRLASOFT OFFERS
Birlasoft provides a comprehensive solution
in all three generalized categories - Industry, Technology and
Product. With world class service delivery and quality, Birlasoft
is setting industry-standards with its insurance practice solutions.
These solutions are:
Domain Consultancy Services:
At Birlasoft, business and domain consultancy
services for Annuity, Property & Casualty, and Life insurance
companies across the world is our forte. The vast pool of domain
experts and business analysts utilize their experience to serve
in the following business process areas:
- Online Distribution and Channel Management
- Underwriting & Policy Administration
- Claims Administration ¢ Billing and Accounting Administration
- Reinsurance
- Incentive & Compensation Management
Technology Services:
Birlasoft understands the need for trained
technology experts in the insurance industry. In-depth knowledge
of an insurer's operational and transactional domain allows
Birlasoft to offer a wide selection of services that cater primarily
to adding considerable business value through greater efficiency
in operating functions. A direct emphasis on domain-centric
technology solutions allows Birlasoft to offer the following
solutions:
- Application Development & Maintenance
- Legacy Migration & Modernization
- Data Warehousing & Business Intelligence
- Enterprise Solutions - PeopleSoft, Oracle, Siebel,
SAP
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- Infrastructure & IT Management Services
- Enterprise Content and Portal Management
- QA & Testing Services
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Product Management:
In-depth expertise in the implementation
and maintenance of various insurance-based business applications
and products allow Birlasoft to serve insurance companies across
various products such as Life, Health or General insurance.
The product management expertise on offer at Birlasoft includes:
- VANTAGE-ONE
- Ingenium
- STG Policy & Claims
- Premia
- SimpleInsure
THE BIRLASOFT ADVANTAGE
- Complete coverage of domain and technology solution needs
for insurers at lower cost with assured quality
- Transform and modernize legacy applications to meet business
goals
- Statutory & regulatory compliance and reporting needs
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Willingness to work with me to adjust work schedules, allocation of resources and dollars of cost are the factors I like the most about Birlasoft because of which I would like to engage with Birlasoft
Lou Perretti
Director, MetLife
At the beginning of the engagement, Birlasoft worked quickly to find resources and ramp up the team to support aggressive project timelines. Management provided excellent reports on metrics, communicated clearly and were always open to suggestions to improve
Tiziana G Verrone
Director, MetLife
The over all team chemistry is great and has allowed for the expressed delighter's to materialize. - Commitment continues to amaze all of those who have come to count on this team. - There remains to be a passion for excellence regardless of distraction
Charles Manning
IT Operations Head, GIO
There was an immediate gain from the work provided by the Birlasoft consultants. The performance of the application was significantly improved providing efficiencies to the Harleysville users and improved customer service turnaround times to our agents. The onsite consultants and the offshore project manager worked extremely well together. This configuration allowed me to continue on other projects without feeling the need for constant oversight of the project tasks.
Leslie Wampole,
IT Manager,
Harleysville Insurance
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Contact a Birlasoft Consultant for additional information
or to schedule a meeting.
Email Birlasoft:
insurance@birlasoft.com
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Insurance
