Why ABSI for Insurance Solutions:
Fast Growing & Provider of IT
solutions to the US Insurance industry we
support many companies in the area of
property & casualty insurance, health,
life and general insurance. Leverage our
vision and capabilities to succeed.
Insurers are faced with reducing premiums,
greater customer expectations and growing
regulations - all of which are narrowing
their bottom line. In such an environment,
success depends on rapid product
development, smart business processing,
efficient claims processing and a whole
new approach to underwriting. The first
step to achieve these is to modernize
legacy IT and business architectures and
unshackle the constraints they impose on
process efficiency, productivity and
profitable growth.
We can help you strengthen your
competitive edge. Our services and
solutions can help to transform your
business performance through strategic
focus on process enhancement and better
leverage of Information Technology. We
offer strong technical expertise, combined
with domain knowledge and project
management capabilities. Our Insurance
practice has many professionals who have
obtained one or more industry
certifications from the AICPCU and/or
LOMA.
The strategies to succeed in the Insurance
Industry can often be superseded by
real-world constraints. Limited budgets,
Silo-based organizations, Out dated legacy
infrastructures and A lack of personnel to
support initiatives.
ABSI's Insurance professionals can help
your company overcome these challenges.
Our on demand strategies for insurance can
position your company for top line growth
through differentiation. Through
differentiation, you can create new value,
new revenue streams, new clients, new
markets and new channels. The methodology
describes how insurers can create systemic
innovation leading to business innovation.
We focus on transformation at two
fundamental levels - business and
application. Our approach stays positive
to insurance business solutions in the
areas of core systems, front office and
risk and compliance.
We use the business transformation process
using component business modeling to
identify the unique, standalone building
blocks that comprise your overall company
and uncover the real sources of value
driving your firm.
ABSI Life Insurance Core System Solutions
replacing, modernizing or transforming the
primary systems that process and issue
life and annuity products including policy
administration, underwriting, product
life-cycle management and benefits payment
ABSI Property & Casualty Insurance
Core System Solutions modernizing,
replacing or transforming the primary
systems that process and issue P&C
products including policy administration,
underwriting, billing, claims, life-cycle
management and enterprise business
systems.
Our Insurance Front Office Solutions
helping insurers manage distribution
channels, improve customer retention,
increase sales and provide timely products
and services to multiple stakeholders
across multiple channels.
Risk and Compliance Solutions generating
business value by making risk management
and compliance more pervasive and
integrated parts of day-to-day business
management.
Claims Management Solutions
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ABSI claims solutions for life and P&C
insurers leverage outstanding services and
sales capabilities to manage, evaluate,
verify and pay claims. These offerings
provide custom system development, legacy
system integration, and enhancement of
claims processes, such as fraud analysis
and claims adjudication. We offer a
computing environment which can help
insurers to develop a variable cost
structure to support the ebb and flow of
resources required to handle variable
claim volumes. We offer a resilient
infrastructure that can help enable
uninterrupted operations in the event of
natural and man-made disasters.
Our Approach:
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* Reduce claim processing time, with benefits Insured and Carrier.
* Enable agents to be more productive when they are in the field.
* Reduce loss costs using effective Workflow Management
* Increase Customer Satisfaction.
* Improve Quality in Operational Processes.
* Better manage claims handling and settlement.
Our Insurance Modernization Solution
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Insurance companies are usually
burdened with complex, inflexible and
often obsolete legacy IT systems. Besides
being expensive to maintain, legacy
systems adversely impact business by
contributing to:
* High cost of application processing
* Longer processing time for policy issuance & reporting
* Longer wait for claim processing & customer dissatisfaction
* High cost of product introduction
* Increasing burdens of regulatory compliance
ABSI offers insurers end-to-end business
and technology solutions, including the
industry's most comprehensive portfolio of
application software, consulting, system
integration and outsourcing solutions.
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