Increasingly, insurerance company are being asked to do more with less: drive better performance, attract new business and achieve faster underwriting. At the same time, they’re expected to reduce costs, improve efficiencies and, of course, manage risk effectively. It’s a tall order, but one that can be met by automating new business and underwriting systems.
While automation will never replace talented agents and underwriters, it can help insurers simplify their processes—and free up their talent to focus on more complex cases or value-added activities.

For Your Information

Insurer SAAS

Software as a service (SaaS) in insurance

Software as a service (SaaS)—and more generally, cloud computing—can enable insurers to:
• Take advantage of pre-defined templates and configurations.
• Benefit from best practices developed by the SaaS provider.
• Shorten implementation times.
• Simplify IT maintenance and monitoring requirements.
• Share infrastructure and help desk services.

Reduce costs and risks

Since insurers pay for cloud computing based on usage, they can reduce redundancies and achieve economies of scale in run and maintenance costs. This also eliminates the need to pay licensing fees, and reduces the IT burden on the insurer in terms of hardware, software and people needed to manage systems.

Greater scalability

As an insurer’s products, markets and customers grow, so can Firis’s SaaS solutions. In many instances, Firis’s SaaS can also give insurers innovative ways to sell new products. In addition, as most SaaS products are built on service-oriented architecture, interoperability and compatibility with business systems is often simplified.

Higher employee productivity

Firis’s SaaS takes a cross-channel approach to business data entry, helping employees get the information and help they need, faster.

Automated, rules-based engine to support effective decision making

If it’s automation that you’re looking for, then you need an effective rules-based engine that supports an effective decision-making process. A rules-based engine must be able to rapidly and consistently analyze the necessary data at each step, whether new business application or policy issuance. Insurers must be able to configure underwriting guidelines and rules so that the engine can make a series of underwriting decisions—whether to “instant issue,” request additional information, or refer the case to an underwriter.

Centralized case data management

Within an automated system, insurers need a robust underwriting workbench to maintain their case data in one place, including requirements, case notes, reinsurance information, underwriting decision data and more. The workbench provides a single, consistent source of information—which can support collaboration between the many people involved in the lifecycle of a policy.

FIRIS - the right SaaS provider

In addition choosing the right technology, insurers must select the right SaaS provider. It’s important to choose a partner with both technical and industry experience, that’s all things Firis can provide for the insurers. The non-life insurance industry has its own unique needs, and non-life insurers must be sure to partner with someone who can not only understand, but address those needs

  • Animated Figure
  • Animated Figure
  • Animated Figure
  • Animated Figure
  • Animated Figure

Interested in knowing more about our work and services?

We would be delighted to meet you