Many insurers have to deal with a service book portfolio of which some products are no longer actively maintained. The insurance policies often continue for a long time and changes to these policies are made manually. This results in high costs, high work load and dissatisfied customers. Automation often seems impossible, since there is no business case for the investment in legacy systems.
For these situations, Acumen and Bizzomate have developed a so-called STP (straight through processing) ‘street’. This street, regardless of the domain, can be used for the outlined problem definition. History shows that by applying such street a STP percentage of 70% to 90% is feasible. For manual work, the street provides task support with signalling, scheduling and work bin function. The solution can be used for mutations for life insurances, pension schemes and the handling of claim reports.
Acumen helps to increase the operational quality through the process implementation methodology. An integrated approach ensures that the processes are set up and supported in such a way that the satisfaction of customers is guaranteed. Acumen provides an implementation of business strategy with a sustainable and supported assurance in the organization.
In a nutshell
Insurers process optimisation.