Maximize the Value Of IT
Insurance Companies today, in an attempt to grow and maintain their profitability, are ready to transform their businesses & operating models to enter new market segments & create new market positions. In this process, they have become intrinsic towards their product and services and more significantly, the distribution channels.
Increased involvement & pressures from customers, new regulations and legacy systems has led investments towards improving operational efficiency and reducing costs. Additionally, the executives are particularly focused on improving the core operations, including policy administration, claims management, and billing.
Also the Global Slowdown has led Insurance companies to redefine their business strategies and the focus right now is on three areas:
a) To have Efficient Systems & Processes
b) To Maximize Wallet Share
c) To Manage Risk and be Compliant
Birlasoft understands these Industry Dynamics and Technology Imperatives and devised a Value Added Consulting Offering that enables Insurance Companies to derive a workable and an executable model.
Post Financial Crisis, it’s been the most worthwhile and an optimum time for innovation. Organizational transformation and realignment is the need of the hour, and in a competitive environment, the industry is faced with the challenges to achieve the business benefits by increasing the revenue, decreasing the costs and creating a value to shareholders / policy holders.
Birlasoft is an industry recognized leader that enables insurance companies to successfully navigate the difficult choices available in the technology space. It offers customized niche insurance solutions and services to leverage the insurer’s existing IT investments through legacy modernization, Integration, SOA, analytics, Portal & Internet Technologies and other differentiated offerings.
Insurers should look for a partner that offers not only a technology capability but one that goes beyond and encompasses a competitive business “right sourcing” model, a realistic executable plan and an optimized maintenance solution. We believe in working with customer priorities, understand the vision of the customer organization, key industry business trends, implications, and deliver the best possible solutions.
Fraud Detection and Mitigation Is a major area of concern in Insurance and Insurers world over are trying to tackle it.