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Comarch Competence Map For Insurance


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Comarch competence map for insurance industry

Comarch competence map for insurance industry

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  • 1. Comarch competence map Insurance Jakub Lewandowski Managing Director Copyright Comarch 2010
  • 2. Comarch competence map for Insurance Comarch overview: • International software house and IT service provider • 17 years of experience • End-to-end products and services for insurance, banking and asset management • Strong focus on process-driven solutions • Extensive investments in R&D: 15% of revenue 2 Copyright Comarch 2010
  • 3. Comarch competence map for Insurance We deliver: 3 Copyright Comarch 2010
  • 4. Comarch competence map for Insurance We deliver: 4 Copyright Comarch 2010
  • 5. Comarch competence map for Insurance We deliver: 5 Copyright Comarch 2010
  • 6. Comarch competence map for Insurance We deliver: 6 Copyright Comarch 2010
  • 7. Comarch competence map for Insurance Focus on the front-end • The challenge: • The opportunity: – Insurance is sold, not bought – Customer data presented and – Better informed customers require managed in a single, web-based more know-how from sales and solution intermediaries – Sales forces spend less time and – Product offer gets more and more effort to perform most common complex operations – No coherent source of information – Modern technology reduces the on customers maintenance cost and guarantees the future-friendly framework – To service a client sales forces must use multiple, not integrated – Customer service scripts and the applications intranet knowledge base speed up sales force training and new product launch • Related products: – Comarch Front End platform (CAFE) – Comarch Contact Center – Comarch CRM Sales Management – Comarch CMS 7 Copyright Comarch 2010
  • 8. Comarch competence map for Insurance Front-end support for sales force • The challenge: • The opportunity: – Agents are key factor of insurer – Build knowledge base useful for success your sales force – Role of the insurance sales force – Give salesmen web access to changes to advisory one information, trainings, workshops – Intermediaries need efficient – Provide contact scheduler and support from insurers to succeed data of customers portfolio – Need of education and training for – Provide useful tools for sales sales force processing – from simulation, – Technology affects agents loyalty offer, proposal to issued policy – Provide daily information about sales goal performance, points gained and money earned • Related products: – Comarch Commission & Incentive – Comarch Business Process Management (BPM) – Comarch CRM Sales Management – Comarch e-Learning – Comarch Insurance Net – Comarch CMS 8 Copyright Comarch 2010
  • 9. Comarch competence map for Insurance Direct insurance and self service • The challenge: • The opportunity: – The internet is no longer just a – Reduction of operational cost source of information thanks to self-service for policy – Customers need new channels of holders contact – Access to policies and claims – Other financial services offer anytime, anywhere Internet accounts and services – All client contracts in a single – Market demands constant Insurance Portal progress in functionality and – Cutting-edge technology gives usability more integration capabilities and security • Related products: – Comarch Internet Insurance – Comarch Contact Center – Comarch CMS 9 Copyright Comarch 2010
  • 10. Comarch competence map for Insurance Policy and underwriting automation • The challenge: • The opportunity: – Highly competitive insurance market – One product and business repository – Constantly evolving market demands – Accelerate time to market – Centralization of business – Whole lifecycle of policy managed (and product) development in one single solution – Fragmented and dispersed policy data – Comprehensive business administration – Manual and rigid processes – Workflow engine for management – Many silos of various information of business processes – Underwriting and actuarial controlling • Related products: – Comarch Life Insurance – Comarch Insurance Scoring – Comarch NonLife Insurance – Comarch Business Process Management (BPM) – Comarch Health Insurance 10 Copyright Comarch 2010
  • 11. Comarch competence map for Insurance Claims service makes the difference • The challenge: • The opportunity: – Insurance companies lack efficient – High-performance, low-cost claims service and quick benefit payments administration – Poor claim service is a major factor – Improvement of the speed and for loss of market share accuracy of claim payments – Market moves away from price – Smooth flow of information competition, towards customer – Automation of business processes orientation strategy – Modern and safe Web-based – Fragmented and dispersed policy solution and claim data – Demand for process-driven solutions • Related products: – Comarch Life Insurance – Comarch Business Process Management (BPM) – Comarch NonLife Insurance – Comarch Insurance Claims – Comarch Health Insurance 11 Copyright Comarch 2010
  • 12. Comarch competence map for Insurance Business processes re-defined • The challenge: • The opportunity: – Most of BPM implementations are – Integrated “inbox” for all workflow business-area specific based tasks – Separate “inboxes” generate risk – Complete lifecycle of insurance of overlooking an item policy defined in a single tool – Lack of flexibility and integration – Separation of workflow engine capabilities leads to most of BPM allows the insurer to develop the implementation failures system in unlimited directions – Event origination is usually – Document imaging accelerates separated from the active contract the workflow while paper originals and customer monitoring are kept in a safe and certified archive • Related products: – Comarch Business Process Management – Comarch Document Management System 12 Copyright Comarch 2010
  • 13. Comarch competence map for Insurance Product management and actuary • The challenge: • The opportunity: – Lack of tools to manage products – Single centralized process for throughout their life cycle product development – Hard-coded product definitions – Greater repeatability and – Definitions stored in many systems consistency in product definition supporting particular product – Easy definition: new products – Launching of new products takes personalized and bundled too much time – Accelerated time to market – Similar launch time regardless if – Product definitions, rules and rates product is a clone or a completely created by business users new one • Related products: – Comarch Life Insurance – Comarch Insurance DataWarehouse – Comarch NonLife Insurance – Comarch Business Intelligence – Comarch Health Insurance 13 Copyright Comarch 2010
  • 14. Comarch competence map for Insurance Knowledge-based marketing • The challenge: • The opportunity: – Insurers are data rich, – Turning data into practical but information poor information – Marketing campaigns involve – Create dynamic marketing and more and more media types - new segmentation analysis for ones emerging every year improved profitability – Cost-effective marketing requires – Precisely targeted marketing precise planning and monitoring campaigns and product offers – Average insurer customer loyalty based on analytical tools decreases easily – Churn lowered with properly packaged products and services, dynamic pricing and monitoring of the customer behaviour – Tracking all campaigns from the • Related products: idea to effectiveness analysis – Comarch aCRM – Comarch CRM Campaign Management – Comarch Loyalty 14 Copyright Comarch 2010
  • 15. Comarch competence map for Insurance Tools for back-office sales support • The challenge: • The opportunity: – Handling and controlling huge – Effective distribution of knowledge multi-channel sales network amongst sale forces – Need for effective communication – Build multidimensional sales force and coordination among business structure using a flexible tool units involved in the process – Keep control of agents - from – Agents need constant education, recruiting process to the end of trainings and technical support cooperation – Report efficiency of sales channels and optimize structures – Organize internal coaching meetings, trainings and events • Related products: – Comarch Commission & Incentive – Comarch CRM Sales Management 15 Copyright Comarch 2010
  • 16. Comarch competence map for Insurance Motivation and remuneration • The challenge: • The opportunity: – Growing market competition covers – Motivate and control sales force also competition for the best agents by daily sales goals performance – Ensure satisfaction and loyalty of the reports best agents and sales managers – Optimize incentive packages – Increase influence on salesmen – Configure all rules of actions compensation programs using – Show clear connection between one flexible tool sales fact and related bonus – Automate all calculation and – Focus agents on their sales goals booking processes achievement – Distribute commission reports via – Keep control corrections and frauds agent portal – Speed up settlement process including acceptations and claims • Related products: – Comarch Commission & Incentive – Comarch CRM Sales Management 16 Copyright Comarch 2010
  • 17. Comarch competence map for Insurance Investing premiums • The challenge: • The opportunity: – Markets are more volatile while – Fully automated deal routing instruments get more sophisticated between the customer, dealer and – New risk and compliance risk controller regulations coming soon – Comprehensive valuation and risk – More complex instruments on the assessment for all treasury market operations – Not enough focus on the middle- – All (instruments)-in-one, what-if and office generates too much risk stress-testing to keep the risk limits safe • Related products: – Comarch Asset Management – Comarch Performance Measurement and – Comarch Risk Management Attribution – Comarch Fund Valuation 17 Copyright Comarch 2010
  • 18. Comarch competence map for Insurance Individual investment accounts • The challenge: • The opportunity: – Financial instruments bundled with – Increased effectiveness in insurance became more and more consolidated investment account sophisticated management – Increasing popularity of investment – Ability to create new products with insurance advanced investment option – Process inefficiencies can rapidly – Control fund transactions generate a negative asset / liability – Up-to-date investment account state difference, which increases the investment risk for insurer – Managing a variety of individual investment accounts • Related products: – Comarch Life Insurance – Fund management module 18 Copyright Comarch 2010
  • 19. Comarch competence map for Insurance Business and accounting records • The challenge: • The opportunity: – Decrease number of booking errors – Flexible definition of chart of – Simultaneous booking in two accounts systems – production and general – Automate insurance accounting ledger operations – Achieve corporate and local – Integrate individual account with compliance with the financial general ledger management – Improve financial management – Deploy country-specific capabilities and oversight to operate anywhere in the world – Easy adjustment to regulatory changes • Related products: – Comarch Life Insurance – Comarch NonLife Insurance – Comarch Health Insurance 19 Copyright Comarch 2010
  • 20. Comarch competence map for Insurance Automation of debt management • The challenge: • The opportunity: – An increase of outstanding liabilities – Dedicated, flexible solution for debt – Growing number of defaults management process (failures) on contractors’ accounts – Huge processes divided into short – Local law system can impose debt- workflow actions related legal obligations on insurers – Pre-defined processes for soft – Overloaded employees do not keep collection and legal procedures up with complicated processes – Improvement of recovery efficiency and tasks – Cutting the collection’s costs – Huge processes are too complex to be effective and manageable • Related products: – Comarch Debt Management 20 Copyright Comarch 2010
  • 21. Comarch competence map for Insurance Reports and regulatory compliance • The challenge: • The opportunity: – Staying up to date with changes in – Automation the process of regulations and reporting preparation and arrangement of requirements mandatory reporting – More and more data to use – Centralized risk control solution – Reporting needs grow fast – Quick information access to – New risk and compliance current and archival reports for the regulations coming soon Insurance Commission with access to the source data – Growing need of risk and exposure control – Easy data integrations for reports for supervisory institutions – Many hard to use silos of various information • Related products: – Comarch Insurance DataWarehouse – Comarch Business Intelligence – Comarch Fraud Detection 21 Copyright Comarch 2010
  • 22. Comarch competence map for Insurance Day to day business reports • The challenge: • The opportunity: – Fast growing business reporting – Get operational visibility needs throughout your enterprise – Operational reporting is often – Quick information access to inefficient and dispersed business reports – Many hard to use silos of various – Assess channel performance, information process bottlenecks and customer – Management lacks of tools for behaviour and interaction providing stakeholder value of its – Improved decision management management vision systems and customer care – Risk and exposure control becomes – Risk and business control center critical issue by establishing a reliable one source of information and empowerment • Related products: – Comarch Insurance DataWarehouse – Comarch Business Intelligence 22 Copyright Comarch 2010
  • 23. Comarch competence map for Insurance Technology and IT expertise • The challenge: • The opportunity: – Numerous applications use – Centralized user management different user catalogs and access meeting the highest industry management tools standards – Internet insurance users are – State-of-the-art payment vulnerable to hacker attacks authorization with one-time SMS – Changing market conditions mean codes changing demands for the IT staff – Additional security to prevent e.g. man-in-the-browser attacks – Lower IT infrastructure costs – Additional & highly skilled workforce with a broad range of IT skills • Related products: – Comarch Security Access Management (DRACO) – Comarch Data Center – Comarch PKI – Outsourcing services – Comarch Security Services – Disaster Recovery Center 23 Copyright Comarch 2010
  • 24. Thank you Copyright Comarch 2010