IBM PureApplication System
IBM PureFlex System
|Provided by: Exigen Insurance Solutions|
Exigen Suite is a suite of modular insurance systems that includes policy administration, billing functions, claims management, and integrated multichannel sales and service provision. It is enabled on IBM PureSystems, which delivers rapid provisioning, increased automation and efficiency and integrated cloud environment.
Exigen Suite is a new generation of flexible, modular, end-to-end core system components that enables insurers to shift towards greater agility and customer-centricity. It supports core operations of P&C insurers to positively impact all key elements of their combined ratios, and dramatically improves speed to market for product launches and process enhancements to capture market opportunities and improve profitability. Exigne Suite is certified compatible with IBM Expert Integrated systems. Exigen Suite components PolicyCore, BillingCore and ClaimCore are designed to break down product and process silos and transform inefficient processes characteristic of the legacy systems they replace. Exigen Suite solutions can be implemented on-premise or as SaaS. Exigen Suite provides a complete set of tools for easy and rapid configuration of solutions: PolicyCore’s integrated product configuration and management tool, Product Factory, fundamentally alters the way insurers conceive, create and manage products. ClaimCore's Claim Factory provides an easy mechanism to define and design suitable workspaces for stakeholders in the claim processes. BillingCore provides configuration tools to define billing plans, define business criteria, manage operations and schedule jobs. DistributionCore enables integrated multichannel sales and service provision to support personalized service whether in offices, contact centers, correspondence-based, or self-service portal modes of operation for insureds, agents and 3rd parties.
Business ProblemThe transformational strategies called for include: • Developing innovative product offerings to meet emerging market needs • Demonstrating agility and an ability to move quickly to capture market opportunities • Increasing responsiveness to the needs of distribution channels and customers • Developing innovative pricing strategies predicated on converting high, fixed costs into variable expense
PolicyCore - complete insurance policy lifecycle management from quote to policy issuance and administration, endorsements, renewal, cancellation, etc. including Product Factory, Rating, Automated Underwriting; ClaimCore - complete claims life-cycle administration including Claim Factory; BillingCore - complete billing and payment processing; DistributionCore - integrated multichannel sales and service provision; Commissions Management; CRM - Customer and Account Management; Document Generation and Content Management; Business Activity Monitoring; Business Intelligence and Operational Analytics;
Provider name: Fazi Zand, VP Marketing & Business Development