As the wave of digitization sweeps modern insurance companies towards sustained growth and expansion , businesses saddled with legacy administration systems are falling into the following pitfalls
The slower release of products into the market owing to the lack of agility and integration capabilities in legacy systems.
Modern product designs are defined by real-time market data insights and evolving regulations and policies. Legacy systems are still inefficient at churning out valuable insights that can drive sound business decisions from its repository of massive data pools.
Companies lose their competitive edge with slow response times – a characteristic feature of legacy systems.
Legacy systems come with a higher cost of recurring license fees, maintenance costs that emerge with a facility arrangement instead of a Cloud environment, and staffing. The issue is further aggravated with limited scalability.
The Solution – Eicore’s Policy Administration System in Insurance
Driven by the need for a system that amps up speed-to-market as insurers design and launches new, innovative products; we are here with our robust, Cloud-based solution backed with advanced technology.
Traditionally, the insurance business was largely dependent on indirect channels and networks of brokers. Although they are still a significant cornerstone of the insurance lifecycle, their abilities have been enhanced with our sophisticated products. And, most importantly insurers can now make the most of direct channels through the internet with our PAS.
Stay compliant, reduce the cost of human intervention while eliminating the risk of human errors, and save up on maintenance and facilities costs with our Cloud-based solution.
With wide opportunities for future integration with unparalleled ease, even smaller insurance companies can make the most of their capital resource by investing in our scalable insurance policy administration software. It grows with your business!
Reduce the need for multiple interfaces with one robust policy administration solution. Simplify the task of maintenance and streamline workflow with paperless automation and effortless integration.
With rigorous data analysis capabilities, get real-time insights on dynamic market trends and analyze large pools of data to configure, manage and launch policy administration solutions driven by rules.
Eicore offers comprehensive software services and products for brokers, insurers, HMOs, insurance TPAs, self-funded schemes and retail users. Eicore’s health insurance claims management software is an end-to-end and client-focused software providing solutions for claims handling, delivering significant benefits to insurance organizations with its wide-ranging functionalities. The claims management software integrates seamlessly with the existing policy administration system and external entities, thus digitalizing the claim process and saving resources, operational cost, and time, increasing efficiency, and preventing fraud.