IT

Insurance Platform

New technologies are changing the distribution process for the insurance sector. Digital advances allow insurance companies to present their products and services online. This also allows them to capture customer data. This can then be analysed to draw insights into how products should be designed, marketed and sold to customers.

 

Traditional insurance intermediaries such as agents and brokers are under pressure from new competition and will have to offer customers advisory services and complex products. While new technologies tend to reduce barriers to entry in most sectors, they also encourage the standardisation of insurance products. While customers will benefit from a competitive market price, insurance companies will be rewarded on the quality of services offered. To benefit further, insurance companies should adopt advanced applications of technology to provide their customers with a hyper tailored and customised array of complex products and services.

Consistently with these critical success factors, our focus is on providing our clients with the full outsourcing of a complete platform to manage their life insurance business. It is a market-leading solution, covering the entire life cycle of insurance contracts and ensuring high degree of flexibility in adapting to the specificities of different organisational models.

The solution provides a broad functional coverage on all life insurance processes (ie. underwriting, claims management and management) and products (from traditional to next generation). The service includes continuous updating of the platform to ensure full compliance with the relevant regulations (ie. taxation, money laundering, etc.).

Overall, our services are designed to facilitate the integration of multi-channel and allow our customers to achieve streamlined “end-to-end” management of the entire supply chain”.


INSIGHTS

Life, Pensions & General Insurance

Pain With A Prospect Of Gain For European Insurers

European insurers seem to be trapped in a pincer movement between regulatory change and the potential impact from sovereign debt defaults and recession-driven declines on the asset [...]

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Life, Pensions & General Insurance

Insurance Companies To Focus On Product Suitability

The UK has suffered several mis-selling scandals including Payment Protection Insurance (with billions paid in compensation) through to interest rate hedging products which appear to have been [...]

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Risk & Compliance

Is GRC Just Another Acronym Or A Real Opportunity?

We all know that, in response to the recent financial crisis, regulators across the globe are focusing on a more robust supervision of all players in the [...]

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