Claims web enablement

Due to the increased claim administration costs of the company, there was a need to streamline the claim administration process. In this perspective, it was decided to incorporate the claim handling process in the web portal of the company.

Claims can now be opened on the web directly from a policy online/real-time and policy related information needed for claim handling can be easily transferred into the claim. Access to third-party systems like the Motor Insurers’ Bureau has made the process of claim opening faster. Automatic evaluation of each claim based on pre-defined dimensions has made it possible to detect fraudulent cases as early as possible within the claim processing flow. With the enablement of payments from the web interface and the possibility of automatic claim file closing, the claim handling process has become significantly faster and more efficient, for the benefit of both the customer and the company itself.

Sales Process Digitalization and Web Enablement

The project made all sales processes available on the web. The users are now able to create and adjust online/real-time offers and policies of the client with simultaneous pricing and collection capabilities.

The offer and policy management is performed for every insurance product in a unified way, thus achieving a unified user experience. From a technical perspective, all of this has been made possible with the introduction of a middleware layer, capable for connecting the front-end and back-end system and also introducing an added value with built-in “Page Built Controls,” “Visibility Rules Framework” and other frameworks.

The sellers are able to monitor their own work with the inclusion of an insurance CRM, tailor-made to cater the needs of an insurance company. With this CRM the users can manage their everyday work with the usage of the work order and task entities. Online notifications of insurance-related transactions also facilitate the users’ everyday business.

Customer information is now readily available to the sellers, offering an enhanced client experience and customer service. It also gives unique cross-sell and up-sell capabilities for the company in order to adjust to the customer’s continuous change of needs. Finally, it helps the company stay competitive in a demanding and “always-changing” environment.

Underwriting Automation

A sales process cannot stand-out from the average without the support of a robust and parametric underwriting module. An underwriting framework containing the required automation which supports a flexible and efficient sales process was created. It makes it possible for the company’s underwriting team to effortlessly create and use underwriting rules that help them avoid receiving unwanted risks from the market. It also provides an easy way of underwriting collaboration when it comes to the assessment of the risk.

Also, this framework is tightly integrated into the sales process as well as with CRM. With this integration, it is possible for the underwriter as well as for the salesperson to speed up the approval process (employing all CRM functionalities as well as a built-in online Chat engine).

Printouts Management & Digitalization

Following regulations that changed the situation in the Greek insurance market, our client increased the proportion of direct over indirect sales. At the same time, the company made significant efforts towards the goal of becoming digital. These changes impacted the company's document generation processes profoundly.

improvIT provided a team that conducted the full business analysis for a novel printing solution, based on company’s SAP-based msg.PIA core insurance system that provided a highly parametric environment to enable a flexible printing process design, as well as the support of digital printouts that leveraged on company’s MS-Sharepoint based document management solution. The new functionality enabled the support of multiple printout distribution schemes as well as the creation of customizable modern looking printouts with significantly less effort compared to traditional approach.

Apart from the pure business analysis, improvIT team provided the initial set-up of the solution to cover current requirements, provided training to the client's personnel, as well as supported the whole testing cycle and post roll-out period.

Automated Multi-Currency Collections Engine

A collection engine was designed and built, tailored made to local business requirements. Apart from consuming collections from multiple sources, the new application provided multi-currency support which is not a standard feature of the core back-office system.

Commissions Functionality Compliance

Commissions functionality of the client’s SAP based core insurance system needed a significant enhancement and improvement to adapt to local requirements. improvIT team implemented a multiparametric commissioning system, as well as a Russian specific module for commission finalization and payment, the so-called Act of Executed Work.

Reinsurance Framework

A major loss is an important event for any insurance company which significantly impacts its profitability. It is essential for an insurer to be able to efficiently and wisely chose the most suitable reinsurance scheme for the risks that assumes.

For that reason, a reinsurance framework was created to help our client automate the re-insurance process. Using this framework, it is possible to easily define rules that assist the Re-insurance department in assessing the risk during the underwriting process.

Evolving Maintenance & Support for Core Insurance System

In this long-term engagement, we are providing services related to the maintenance and continuous evolvement of our client's P&C core insurance system.

Several implementations have taken place regarding but not limited to:

  • Business Analysis & Implementation Services for various projects
  • Data Migrations following a company acquisition
  • New collections media utilizing web services and other third-party integrations
  • Creation of new products for most LoBs in P&C
  • Accounting interfaces support for Local and Global SAP FI systems
  • System Upgrades
  • Development of Web Services for exposing core system functionality via web portals etc.
  • Assisting the client's IT in issues resolution
  • Provision of technical know-how

SAP FI Global Template Implementation

In 2016 our client decided to replace their local accounting system with the central SAP FI (S/4 HANA) solution. At the same time, the company had to comply with the new requirements imposed by Russian Central Bank regarding chart of accounts and accounting processes in general.

improvIT team designed and built the migration from old to new accounting logic within the local core insurance system, including new accounting rules, process modification, etc. while at the same time built the interface for technical accounting movements from the SAP-Based core insurance system to the new GT environment. The project went live as planned on 1/1/2017.

Renewals Automation

Renewals play an essential role in today’s insurance business. Without an automated process of handling their clients’ renewals, companies run the risk of losing clients and subsequently profits upon renewals.

With the renewals automation framework, our client can now manage renewals in an easy and automated way. This framework supports the creation of renewal plans with subsequent notification steps. This “factory-based” approach is imperative for a smooth process of renewals handling. All contracts follow a specific renewal plan with intermediate notification steps to all the related parties (such as the Seller, the Underwriter, the Client or even Customer Service).