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Create Insurance Processes That Deliver Return on Investment (ROI)
The insurance industry must overcome multiple challenges and relentless change. Manual practices, disjointed processes, speed to market constraints, lack of audit trails in light of regulatory changes and inefficient systems are just a few hurdles carriers must overcome. These issues continue to have a significant impact on a carrier’s ability to maintain its competitive edge and reduce costs while improving profitability.
With ILOG’s business rule management system (BRMS), insurance carriers build flexible applications that enhance their operational efficiency, optimize processes and improve customer retention and acquisition. ILOG BRMS goes beyond basic automation to adding decisioning capabilities throughout core processes and across lines of business.
Carriers rely on ILOG BRMS to enhance their core processes while achieving significant ROI. ILOG software is used in such areas as policy administration, underwriting, rating, claims processing, billing and payment, distribution, asset management and annuities.
Leading property and casualty, health and life insurance carriers rely on ILOG software to:
- Achieve speed to market gains of over 50 percent
- Increase pass-through-rates by over 80 percent
- Reduce claims leakage resulting in millions of dollars in savings
- Accurately assess risk on a consistent basis
- Improve compliance monitoring and fraud detection
- Obtain audit trails throughout the process and across lines of business
- Empower business users with the ability to manage rules with permission-based access
- Gain efficiency through centralized rule management
Create flexible, responsive systems
ILOG BRMS provides advanced rule management and authoring capabilities designed to empower both business professionals and developers. It includes features such as permission-based access control, metadata, history management, versioning, a central rule repository, decision tables and trees, high-performance rule engine and business-action language for business users with a point-and-click user-interface, capabilities to perform what-if scenarios, reporting and a variety of rule maintenance tools.
Insurance carriers can leverage their existing IT investments including legacy platforms, open technologies and industry data standards such as ACORD XML. Recognized for its ease-of-use and integration, ILOG BRMS supports both real-time and batch processing.
Leading insurance carriers rely on ILOG BRMS
Insurance companies of all types and sizes rely on ILOG software to automate decisioning capabilities across their insurance processes. ILOG clients including leading property and casualty, health and life insurance carriers such as MetLife, TaiPing Life, Vision Service Plan (VSP), Delta Dental, Blue Cross Blue Shield organizations, St Paul Travelers, Prudential, Allstate, Zurich and 21st Century Insurance.
Dedicated business and technology support
ILOG provides complete services for consulting, education and customer support. ILOG’s best practices, insurance reference model, templates and methodology, along with professional expert support, help insurance companies build cutting-edge applications faster and with the greatest returns. ILOG consultants work side by side with customers to guarantee their success with ILOG software.
The insurance reference model available through ILOG Professional Services covers all major domains and processes for both non-life and life insurances. It facilitates the speed with which carriers can design and develop their applications, using a common semantic they can leverage across core processes in a service-oriented-architecture (SOA). Moreover, ILOG BRMS supports application integration with other technologies and provides deep integration with many of the leading SOA platforms.
Next steps
Learn more about how ILOG can help your company improve claims efficiency and achieve superior return on investment (ROI).
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