Duration: One Hour
With recession looming and the global credit crisis generating the likelihood of tougher regulatory requirements for transparency and improved governance, insurers are facing renewed pressure to manage and control business processes and operations as efficiently and accurately as possible. At the same time they are pushing for efficiency, visibility and streamlining, insurance companies also must address demands for growth, customer retention and improved speed to market when it comes to new product offerings. Most companies recognize that automation, incorporation of business process management (BPM) principles and integrated end-to-end processes can help them address all these goals. However, exceptions management – and the largely manual manner in which many companies still handle all kinds of exceptions – presents a significant hurdle on the path to efficiency, visibility and compliance. Whether they involve contracts, policy applications, claims, or financial reporting, exceptions impact the bottom line – in fact they can easily account for more than half of an institution’s process-related costs. Carriers simply can’t afford to incur the costs of missing customer information, data mismatches, labor-intensive resolutions, inconsistencies, inaccuracies, and customer dissatisfaction.
At this free one-hour Webcast, that includes insight from Forrester Research Principal Analyst Ken Vollmer and Vitria Technology Founder and CTO Dr. Dale Skeen and moderated by Insurance & Technology’s Editorial Director Kathy Burger, you will learn about how automation can transform insurers’ exceptions management processes and help them overcome the problems they have with handling high-volume, event-driven transactional processing. Find out how automated exceptions resolution with guided resolution when required and SOA-oriented BPM can help insurance companies gain the benefits of Straight-Through Processing (STP) and ultimately become much more collaborative, agile and responsive organizations.
- Improving governance, policy-based management of processes.
- Reducing the risk of non-compliance, ensure greater risk management.
- Achieving faster time-to-market.
- Increasing customer satisfaction and retention.
- Improving business and process continuity.
- Improving exception resolution and audibility.