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Diasoft named among the leading European providers of Insurance Claims Systems in Celent Claims Systems Vendors: European General Insurance 2012

Diasoft, a global provider of cutting-edge financial software solutions supporting all aspects of banking and insurance businesses, was ranked among the leading European providers of Insurance Claims Systems in Celent Claims Systems Vendors: European General Insurance 2012

Core claims technology continues to be an area where insurers are upgrading and vendors are offering enhanced solutions. A new report from Celent — Claims Systems Vendors: European General Insurance 2012 — profiles 18 claim system vendors in Europe. This report features Celent’s ABCD Vendor View — a comparative view of the vendor marketplace that visually represents four elements: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions.

FLEXTERA Insurance is an innovative front-to-back STP solution catering for every aspect of the Insurance Business. The functional scope of FLEXTERA Insurance covers all major business needs of the companies specializing in General Insurance, Life Insurance, and Re-Insurance. FLEXTERA solutions provide Insurance companies with the most advanced mechanisms ensuring high-level customer servicing, distribution chain management, claims processing, policy and product management, billing, financial control, and business intelligence.

The solution is built on JavaEE technology in full compliance with SOA principles and was developed in tight collaboration with IBM — a globally acknowledged SOA industry leader. Due to its component-based SOA-architecture and business process-based approach to automation, the solution can be tailored to fit any individual business and technological requirements of the most dynamic Insurance companies.

Taking into account that claims management is one of the major indicators of the quality of services of any Insurance company and a guarantee of its sucessful business development, Diasoft offers a suite of modern tools for the most efficient support of this business area.

FLEXTERA Insurance enables fully automatied, front-to-back STP claims processing with the support for rule-based claims handling and evaluation of fraud risks. The solution enables claims initiation via various channels, including self-service portals, and consolidates all internal and external activities within a distributed network of branches, agents, claims centers, and partners and provides a comprehensive end-to-end mechanism for streamlined claims management and improved speed, cost and customer satisfaction levels.

FLEXTERA Insurance provides powerful Business Intelligence tools for claims analysis and further adjustment of pricing and channel selection strategies.

“Vendor investment in their solutions since Celent’s 2010 report is clear, and this is great news for buyers,” says Catherine Stagg-Macey, Senior Vice President with Celent’s Insurance Group and coauthor of the report. “This remains a highly competitive solution market.”

“The vendors in this report have achieved a strong baseline of good functionality and modern technology,” adds Craig Beattie, analyst with Celent’s Insurance Group and coauthor of the report. “Increasingly, vendors are looking at agility and changing management investments to meet customer needs and to differentiate their product offerings.”

“We are proud to be named by Celent among the top market players. We have incorporated into our FLEXTERA Insurance Suite the most advanced technologies and industry recognized standards to be able to meet the highest requirements of our customers and the most difficult challenges of the global insurance market,” said Alexander Budnik, Vice President and Head of Insurance Business, Diasoft. “What we offer to our customers is not only the technology, but the power to reach business agility and technological flexibility — the main guarantors of their viability and successful growth.”