Archives des Solution - Prima solutions

Migrating and modernizing portfolios managed on legacy systems

Apolline Miquel — Thu, 18 Aug 2022 15:26:54 +0000

Modernization

Migrating and modernizing portfolios managed on legacy systems

To remain competitive in the insurance market, insurers must be able to offer insurance products that are increasingly innovative and tailored to policyholder expectations. However, launching a new insurance product or even modernizing an existing one is incompatible with an aging IS that is costly to maintain and nearly impossible to upgrade.

At the same time, completely overhauling an existing system is a project of overwhelming scope and complexity, involving costs, deadlines, change management, team training, risk of data loss, risk of service interruption, and so on. A more gradual approach is possible by migrating and revitalizing small and medium portfolios managed on the legacy system.

Insurers can thus achieve a gradual and controlled digital transformation by deploying a modern and flexible platform alongside their existing systems.

To gradually modernize your IS, you need to

Deploy an innovative cloud platform alongside your IS

Rather than undergoing a complete overhaul, it will be easier to develop a modern, flexible, and modular solution alongside your legacy system to gradually integrate your portfolios. A no-code platform will enable you to easily update and evolve your insurance products to meet your needs.

Put your business teams back in control

Your legacy system is maintained by technicians and experts who are becoming increasingly scarce, limiting your ability to respond to market changes. Using an innovative platform in conjunction with your legacy system will put your business teams back in control, restoring their autonomy through an intuitive, highly configurable interface. Your managers can also move quickly from your old system to the new one, preserving operational efficiency and reducing resistance to change.

Enjoy proven, custom-tailored support

You’ll control your deadlines and your budget by working with a team with experience in insurance digitalization projects. Our experts will use their experience from many successful projects—with structures of all sizes and across all insurance areas—to assist you in migrating your portfolios into a secure framework with proven processes.

Gain access to an innovative ecosystem

With new technologies, the insurance sector is seeing the emergence of an increasing number of services that are complementary to traditional insurance, which has contributed to higher expectations among policyholders. With a modern management platform, you can incorporate these cutting-edge solutions into your initial offering while remaining competitive.

Your need

A technological partner who understands your IT issues and has experience in managing gradual IS modernization projects in the insurance sector through portfolio migration.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Migrating and modernizing portfolios managed on legacy systems est apparu en premier sur Prima solutions.

Improving policyholder satisfaction: Digitalization and personalization

Apolline Miquel — Thu, 18 Aug 2022 15:08:15 +0000

Innovation

Improving policyholder satisfaction Digitalization and personalization

Already highly competitive, the insurance market has become even more aggressive with the widespread adoption of infra-annual cancellation, which complicates policyholder loyalty. What’s clear is that insurers are faced with growing expectations, from the end-to-end digital experience and personalization of offers to additional services, data protection, and more. Policyholders have evolved to become highly demanding and fickle.

Insurers must keep their policyholders satisfied in order to hold onto them for as long as possible.

However, while most market players now offer simplified digital subscription options, they are far from being 100% automated and do not always cover all management processes (contracting, claims reporting, termination, etc.). Furthermore, many IT systems are not yet agile and open enough to allow managers to create highly personalized, service-filled offers that anticipate policyholder needs and facilitate the insurer-policyholder relationship.

To meet today’s policyholder expectations, the insurance industry must provide an optimal customer experience by means of a modern, flexible, and integrated solution.

To improve policyholder satisfaction, you need to

Develop smooth and seamless sales and management

You create a seamless user experience by automating the entire customer relationship, from presales to termination, claims management, and claims settlement. Your managers will naturally become more efficient in their operations with less manual work. You can also provide an omnichannel experience by expanding the channels through which your services can be accessed, such as client portals, comparators, computers, tablets, smartphones, and more.

Integrate innovative solutions to provide access to a diverse range of services

Insured persons are always asking for more personalization, and you need to integrate a wide variety of microservices in order to tailor to specific requirements. Using a modern solution built with an API-first approach allows you to integrate your partner network as well as all of the market’s innovative solutions.

Provide your policyholders with a fully personalized portal

In order to give your customer a central role in managing their insurance policies, it is necessary to delegate processes that were previously assigned to managers. This allows the client not only to view the necessary information, but also to enter and update it. Your customers benefit from a personalized service that is accessible at any time, allowing them to manage their quotes, contracts, and insured fleet, view deadlines, request an amendment, and more, all thanks to a 100% customizable cloud portal tailored to the specific needs of the policyholder, whether they are in individual or a company.

Respond to market changes with an intuitive and scalable solution

By keeping your business teams independent from IT teams allows them to develop and distribute insurance products quickly so that you can respond quickly to the changing needs of policyholders. With our no-code, modular platform, your teams can work independently to bring new products to market quickly while also adapting your existing offerings to remain competitive.

Your need

A technological partner who understands and meets your customer satisfaction challenges with a modern and proven solution that provides an optimal user experience.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Improving policyholder satisfaction: Digitalization and personalization est apparu en premier sur Prima solutions.

Analyze reinsurance portfolios profitability to ease renewals

Prima Solutions — Tue, 14 Jun 2022 09:14:18 +0000

Modernization

Analyze reinsurance portfolios profitability to ease renewals

Even a modern dedicated reinsurance software can lack reporting capabilities.
Every reinsurance professional needs to control costs, to calculate the profitability of his reinsurance contracts and to identify leverage points in order to negotiate renewals.

Most of the reinsurance systems on the market don’t offer these features.
To assess your reinsurance contracts profitability, you need to rely on a true analysis software designed specifically for the insurance sector that will allow you to manipulate your reinsurance data flexibly and dynamically for decision making.

To analyze your reinsurance contracts effectively, you want to

Connect the reinsurance software to the analysis software and use the data to calculate loss ratios

Today, insurers' information systems are composed of several different tools (policy, claims, accounting, actuarial...) so the analytics dedicated module should be agnostic and able to interoperate with any platform in order to retrieve and classify all the data needed.

Compare variables and calculate drill down at contract and even layer-level

Having a software with reporting capabilities and pushed analysis will not only make you more credible while renegotiating, but it will also allow you to calculate loss ratios, cleanse data, identify trends and simulate pricing. For example, while studying reinsurance contracts before their renewal, you need to analyze loss ratios by line of business (liability, property...) over a period of several years since with long branches, it takes many years to pay claims and stabilize the result. As a cedant, you also need to identify dependency on one or more reinsurers.

Make the right decisions

Reinsurance professionals need to rely on tools adapted to their market, with fields using insurance terminology, calculations already set up, standard and dynamic reports or dashboard ready to use and ready to be shared as well as graphical representations with drill down features to explore all portfolios and thus accelerate decision making and improve governance.

Your need

A technological partner with expertise in Business Intelligence and predictive analysis platforms for the insurance sector

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Analyze reinsurance portfolios profitability to ease renewals est apparu en premier sur Prima solutions.

Usage-based insurance

Prima Solutions — Mon, 13 Jan 2020 17:18:30 +0000

Innovation

Usage-based insurance

In recent years, innovations in the collaborative economy, such as ride-sharing and seasonal rentals between individuals, have given rise to growing needs, particularly in terms of usage-based insurance.

Insurers today must be able to support offers and services suited to the new digital consumption habits of policyholders. This requires the ability to issue short-lived, tailored usage-based insurance policies.

To remain innovative,
you want

Insight into future trends

New types of risks and the new consumption habits of policyholders require new products to be developed to keep up with these needs. These days, offering usage-based or behavior-based options is essential.

Total system flexibility

To run with the most agile players in the insurance sector, your tools must allow you to manage the new products you launch, like the many short-lived and very short-term insurance policies, commonly found in usage-based insurance. You need to be able to seamlessly handle the speed and volume challenges this implies.

Automation and added value

Automating tasks involving the growing number of usage-based insurance policies frees up time for your managers, letting them focus on higher value-added tasks. Their productivity soars.

Multichannel approach

The multichannel model is now the most popular, and user interactions are increasing, with continuously higher expectations for speed, fluidity, and simplicity.

Digitization

Keep up with market and business trends with a digitized user experience by integrating innovative technologies (teleconsultation, smart contracts) and modernizing information systems.

Your need

A technological partner who is an expert in usage-based insurance to proactively and innovatively address changes affecting your insurance business.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Usage-based insurance est apparu en premier sur Prima solutions.

Life and Health insurance policy management

Prima Solutions — Mon, 13 Jan 2020 17:02:36 +0000

Replatforming

Life and Health insurance policy management

The social protection sector is rapidly changing with the emergence of new, highly innovative and agile players offering life and health insurance policies. The ability of insurtech to quickly roll out innovative products and respond to the up-to-the-minute needs of policyholders makes these innovators highly competitive compared to traditional life and health insurance organizations.

Traditional companies face a serious challenge in advancing their digital transformation strategy, in order to maintain and increase their market share.

To remain competitive,
you want to

Go to market quickly

Keeping your business teams separate from your internal IT teams is a major asset for going to market quickly with your new life and health insurance products. This increased autonomy will help you optimize all aspects of your policy lifecycle (distribution, policy administration, claims management, and cash flows).

Offer flexibility and a variety of products

Keeping a finger on the pulse of new policyholder needs can help you adapt to innovative life and health insurance products. Move with the market by managing your products (health, life, individual, group, statutory, borrower, etc.) quickly and consistently and by integrating them side by side.

Optimize the customer experience

Guiding policyholders and managers through an intuitive, user-friendly customer experience (underwriting, claims reporting, reimbursement requests, quotes, accessing third-party statements, etc.) is an effective way to improve your relationship with your customers and boost loyalty among policyholders.

Integrate with the healthcare system

Real-time communication with your healthcare systems (primary health insurance, Carte Blanche, Santé Clair, etc.) helps you streamline your processes (NOEMIE), validate payments, and track overdue payments, while offering high value-added services to policyholders.

Simplify your compliance

Regulatory requirements for life and health insurance are constantly changing (Solvency II, Loi Evin, ANI, GDPR, etc.), and adopting the many agreements (DNS, N4DS, NOEMIE, B2, Viamedis, Almerys) can prove cumbersome. Streamlining your reporting to regulators and healthcare systems helps you focus on your social protection services.

Focus on added value

By choosing to automate a number of policy management tasks, including claims reporting and payments, you can help your teams become more productive and focus on tasks with higher added value. Lower your technical ratio and improve the service you provide, while keeping your operations secure.

Protect your cash flow

With the rise of paperless claims management and reporting, your operational and financial security depends on your ability to detect fraud through systematic verification processes. All of your accounting (collections, compensation, and recovery) must be both automated and tracked to protect your cash flow.

Your need

A 360° technological solution to speed up your digital transformation strategy and market your life and health insurance products effectively.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Life and Health insurance policy management est apparu en premier sur Prima solutions.

Quickly launch new insurance products

Prima Solutions — Mon, 13 Jan 2020 16:31:26 +0000

Innovation

Quickly launch new insurance products

Digital innovations are transforming consumer habits and needs. These days, policyholders expect to be able to buy insurance quickly and easily online. Insurers need to be capable of launching new tailored insurance products (IoT, pay-as-you-go, etc.) quickly.

Competition is heating up in this sector, a space shared both by long-standing players undergoing a digital transformation and by extremely agile newcomers from the world of insurtech.

To remain competitive,
you want to

Go to market quickly

Be responsive in rolling out new insurance products to evolve with the changing needs of the market, meeting new consumer expectations and addressing the new types of risks that are emerging.

Allow autonomy for business teams

Ideally, a business team launching new insurance products can work independently, without having to go through their PM and internal IT teams to plan their agenda, extend their activities, and boost their efficiency.

Fine tune what you offer

Having a fully customizable and flexible tool that can be used to manage all types of new products in the same way is a serious advantage in terms of process standardization and operational efficiency.

Improve the UX and UI

Ease of access, purchase, and use are must-haves for the user experience of prospects and customers, in a commercial environment where customer expectations have grown considerably.

Multi-channel and digital

From underwriting to claims management, all indications are that it is increasingly more common for insurance customers to use multiple channels, combining both the physical channel (i.e. mail, point of sale, agency, etc.) and digital channels (i.e. web, mobile, etc.) along the way.

Your need

A technological partner who is an expert in solutions to help insurers roll out innovative products.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Quickly launch new insurance products est apparu en premier sur Prima solutions.

Operational efficiency

Prima Solutions — Mon, 13 Jan 2020 16:25:04 +0000

Innovation

Improving operational efficiency

Process control is a key issue for insurance companies. Often in the middle of a digital transformation, they must manage their activities using a wide variety of tools, steps, and rules (e.g., following up with prospects, multichannel underwriting, contract management, claims settlement, handling policyholder requests, cancellations, etc.) to improve agility, traceability, and operational efficiency.

To improve your
operational efficiency,
you want to

Adapt your procedures

Many insurance companies still work with paper files and an increasing amount of email, with no real coordination. In the era of paperless processes, it is a matter of modernizing key activities, like claims monitoring, renewals, requests for proof of insurance, and appraisals. This kind of change can considerably improve your operational efficiency and, by extension, the quality of service you give your customers.

Centralize task management

Within your company, do you use different tools to manage insurance? Are there many processes and people involved, spread across multiple sites? To improve your operational efficiency, you need to centralize the information needed to perform tasks, organize and prioritize work, issue assignments, and facilitate and simplify interactions between departments (underwriting, claims, actuarial, billing, etc.).

Keep track in real time of what needs to be done

You want to have an overview of open and current tasks, supervise the progress of actions, verify that procedures are being followed, and see when things go back and forth and when there are reminders and delays.

Learn through reporting

Tracking the progress of tasks is one thing. Learning to improve processes and increase operational efficiency is equally important. Data extraction and statistics are fundamental for collecting the indicators you need for your quality process.

Your need

A technological partner who understands the challenges you face in insurance management and offers a business workflow solution that is compatible with your information system.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Operational efficiency est apparu en premier sur Prima solutions.

Corporate fleets management

Prima Solutions — Mon, 13 Jan 2020 16:15:40 +0000

Modernization

Corporate fleets management

Businesses are major consumers of insurance products. They need different types of coverage to suit their line of business and their risks. One of the most popular is B2B insurance for corporate fleets

Automobile fleets are the first to come to mind, but B2B insurance can provide coverage for a broad range of assets, including real estate, mobile phones, computer equipment, and more. By targeting businesses, insurers can tap into the tremendous growth potential of the B2B market.

To remain attractive,
you want

Simplicity and responsiveness

Insured businesses need to be able to report a claim from anywhere and at any time, to be compensated quickly and protect their cash flow. How quickly you can process claims combined with the accessibility and usability of your user interfaces are key differentiators for maximizing customer satisfaction.

Go to market quickly

You can streamline your business by providing your insurance solutions for corporate fleets completely online, with support for multiple products and multiple channels. This will enable you to adapt quickly to the changing needs of businesses, and for instance accommodation to all types of vehicle fleets, including commercial vehicles, utility vehicles, construction equipment, large trucks, and trailers.

Fine tune what you offer

Given the diversity of insurable business fleets, you need to be able to handle all types of insurance, including automobile insurance and property insurance, along with the various products within these categories, such as glass, civil liability, and fire coverage. Having a fully customizable, all-in-one management tool lets you standardize your process and manage your insurance policies more efficiently.

360° vision and connectivity

You can track your entire fleet using the lightning fast connection between your insured fleets and your computer systems, delivering data and reports in real time. Maintenance alerts and in-depth risk analyses also help provide a quick overview of your fleet’s performance.

Cybersecurity and compliance

Protecting the personal data of the employees of insured businesses is a major challenge. Insurers can offer anonymous analyses to help insured parties to map out their risks and lower the accident rate for their property and employees.

Your need

A technological partner offering a full range of B2B insurance solutions tailored to the coverage of corporate fleets.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Corporate fleets management est apparu en premier sur Prima solutions.

Automating claims management

Prima Solutions — Mon, 13 Jan 2020 16:08:23 +0000

Modernization

Automating claims management

Automating claims management has become a major challenge because the process is inherently time-consuming, with little opportunity for economies of scale or marginal productivity gains. That is why you need to optimize your processes through the use of customizable wizards and integrated workflows.

By moving from a product-centered model to a customer-centered model, you can achieve greater operational efficiency, while making a qualitative leap in the service you provide to your policyholders.

To be more profitable, you want to:

Improve your combined ratio

Automated claims management provides total control over processes, from reporting to settlement. You can offer better quality services while reducing your technical ratio and, by extension, your combined ratio.

Focus on added value

By automating the management of numerous repetitive manual tasks, you improve productivity among management teams, which creates a better user experience. No longer burdened with repetitive tasks, employees can focus on tasks with higher added value, such as customer support or after-sales service.

Invest in compliance

The normative and regulatory inflation affecting those in risk management means that all conventions must be handled natively. This makes automating your processes vital to optimizing your reporting and follow-up in a simple, integrated manner.

Make policyholders autonomous

Online reporting and automated claims management, including automatic calculations of compensation and advanced switch processes, visibly improve the user experience. Policyholders who want to be able to manage claims on their own can perform many actions themselves, with the peace of mind that they can reach out to qualified management teams if needed.

Your need

A technological partner who is an expert in managing claims and compensation to optimize your workflows, lower your management costs, and improve your margins.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Automating claims management est apparu en premier sur Prima solutions.

Multichannel distribution

Prima Solutions — Mon, 13 Jan 2020 15:54:26 +0000

Modernization

Multichannel distribution for insurance products

Digital technology is disrupting the insurance industry, moving it away from a customer relationship model involving branches and advisors and toward a multichannel distribution strategy for insurance products.

Interactions with prospects and customers have become more complex, with a host of methods available for accessing insurance. Policyholders use multiple channels, combining both the physical channel (mail, point of sale, agency, etc.) and digital channels (web and mobile) along the way. Multichannel distribution has become the norm in the insurance market.

To remain effective, you want :

Proficient online underwriting

You need to allow prospective customers to purchase your products on their own and in a variety of ways, and you need to be able to underwrite these products more efficiently. Focus on simultaneously coordinating and sharing information across multiple distribution channels (physical, telephone, and web) and among the various people working with policyholders (agents and brokers).

A simple and user-friendly UX

Ease of access, purchase, and use are must-haves for the user experience of prospects and customers, in a commercial environment where customer expectations have risen sharply. The attention you give to your web portals must match the high quality standards you set for branches frequented by policyholders.

Higher customer conversion rates

By being online, wherever prospective customers hang out, you reverse the traditional relationship for future customers, who must be able to access your products and teams to buy insurance. Simplify the user experience to achieve a better conversion rate for your prospective customers.

Faster distribution

To be responsive and innovative, you need to be capable of rolling out new insurance products quickly. Your teams should be free to set up and market products on their own. With effective distribution and policy management tools, you can focus on what is important: signing up new customers.

Combined productivity and quality

By allowing policyholders to carry out a number of actions themselves, you free up time for your management teams to focus on improving service quality. Combining digital and human interaction, you offer exactly the right level of customer service that the market expects, while maximizing the productivity of your teams.

Your need

A technological partner with expertise in Business Intelligence and predictive analysis platforms for the insurance sector.

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Multichannel distribution est apparu en premier sur Prima solutions.

Archives des Solution - Prima solutions

Migrating and modernizing portfolios managed on legacy systems

Modernization

Migrating and modernizing portfolios managed on legacy systems

To gradually modernize your IS, you need to

Your need

Improving policyholder satisfaction: Digitalization and personalization

Innovation

Improving policyholder satisfaction Digitalization and personalization

To improve policyholder satisfaction, you need to

Integrate innovative solutions to provide access to a diverse range of services

Your need

Analyze reinsurance portfolios profitability to ease renewals

Modernization

Analyze reinsurance portfolios profitability to ease renewals

To analyze your reinsurance contracts effectively, you want to

Your need

Usage-based insurance

Innovation

Usage-based insurance

To remain innovative,you want

Insight into future trends

Your need

Life and Health insurance policy management

Replatforming

Life and Health insurance policy management

To remain competitive, you want to

Offer flexibility and a variety of products

Optimize the customer experience

Simplify your compliance

Protect your cash flow

Your need

Quickly launch new insurance products

Innovation

Quickly launch new insurance products

To remain competitive,you want to

Go to market quickly

Allow autonomy for business teams

Fine tune what you offer

Improve the UX and UI

Multi-channel and digital

Your need

Operational efficiency

Innovation

Improving operational efficiency

To improve youroperational efficiency,you want to

Adapt your procedures

Centralize task management

Keep track in real time of what needs to be done

Learn through reporting

Your need

Corporate fleets management

Modernization

Corporate fleets management

To remain attractive,you want

Fine tune what you offer

360° vision and connectivity

Cybersecurity and compliance

Your need

Automating claims management

Modernization

Automating claims management

To be more profitable, you want to:

Focus on added value

Invest in compliance

Your need

Multichannel distribution

Modernization

Multichannel distribution for insurance products

To remain effective, you want :

A simple and user-friendly UX

Higher customer conversion rates

Your need

To remain innovative,
you want

To remain competitive,
you want to

To remain competitive,
you want to

To improve your
operational efficiency,
you want to

To remain attractive,
you want