Cordys launches business operations suite for the Insurance sector

28 April 2008

A new business operations platform designed to improve customer expectation, ease compliance pressures and improve business efficiency, has been launched by the leading business process management vendor, Cordys.

Jan Baan, CEO, Cordys, stated: “When managing and improving business processes, the complexity of information systems can quickly begin to limit rather than enable business change. The Cordys Business Process Management Suite breaks this cycle by allowing the business itself to create IT solutions based on specific business processes, rather than on existing IT systems.”

“The challenge for companies in the insurance sector is to manage multiple touch points in a business network environment, characterised by disparate systems, manual processes and a lack of management visibility and control.” he added.

In a market driven by the need to remain competitive, many organisations are re-aligning operational activities around the customer rather than the policy itself. This can only be done through improvements in collaboration, service delivery and information delivery throughout an organisation and its immediate ecosystem. This includes individuals, departments, brokers, intermediaries and agents.

Using the Cordys Business Process Management Suite, both technical and non-technical professionals in the insurance market can model business processes using the same simple, accessible dynamic application development tools. Businesses can rapidly create and change IT applications while focusing on the tasks and activities critical to that business, free of any restrictions from underlying information systems.

By improving the speed with which implementation and change can be effected, Cordys makes an organisation more responsive to changing business conditions and avoids the unnecessary costs associated with customisation.

Built entirely on service oriented architecture (SOA) principles, Cordys provides a unified web-based view of a business, together with an integrated environment that gives users access to all business information as well as the functionality to quickly model and integrate business processes.

Key benefits of Cordys for the insurance sector include:

• Improved distribution: Cordys helps insurers to speed time to market for products and services by enabling them to build new applications through the re-sue of discrete, operationally independent components or services
• Faster customer acquisition: Cordys streamlines, automates and integrates the new business process – eliminating the need for re-keying data, minimising manual intervention and setting deadlines to ensure tasks are completed within required timeframes
• Streamlining claims processing: Cordys automates the entire claims management process shortening settlement cycles and improving the consistency of claims outcomes
• Increasing customer value: Cordys enables intelligent cross selling – creating a single, real time view of the customer across the different lines of business and detecting opportunities to intelligently recommend products to customers

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