Nexum IMS Suite, the Insurance Management System

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Nexum IMS Suite, Insurance Management System

http://www.nexum-it.com

Business benefits:

Reduced costs of sales operations:
Automated premium calculation
Web sales channel
Automation of manual tasks for sales operations
Automation of manual tasks for renewal operations
Automated commission management
Automated reports

Reduced costs of claims handling operations:
Automation of manual tasks for claims registration
Reduced paperwork
Electronic documents
Partner claims
Web claims
Automated reports

Reduced costs of accounting operations:
Automation of manual tasks for claims registration
Reduced paperwork
Electronic documents
Partner claims
Web claims
Automated reports

Reduced costs of accounting operations:
Automated invoice generation
Merged invoices
Payment to invoice automated mapping
Automated payment control
Automated reports


Reduced risks:
Identification of customer-associated risks
Automated control of underwriting limits
Automated control of claims payment limits
Reduced fraud

Increased sales revenues:
New automated sales channels
Improved customer service, loyalty





Clients
Who is the client?
What does the client mean for us?
Quick access to client’s information
Improved customer service

Products:
Both standard and unique products
Reporting
Sales
Claims
Money Management

Policies:
Reduced costs of sales operations
Automated premium calculation
Automated proposal generation
Increased sales – automated renewal control, Web sales

Claims:
Reduced manual efforts for experts, claims handlers
No paper flow
Fast customer service
Internet claims
Sophisticated claims reporting

Money management, Cash flow:
Automation of accounting tasks
Cash flow control
Improved customer experience

Limits:
Automated control of limits
Reduced fraud
Control of risks and payments
Quick remote authorization of transaction


Reports:
Realistic and actual data about business performance

Agent, broker & Web sales:
Increased sales revenues, larger agent network & customer base
Reduced workload to backoffice, external remote sales channel
Control of agent and broker performance


Web Sales:
Acquire new customers
No intermediary sales commission
Short sales cycle, immediate payments
Low sales administration costs
Improved customer service

Client Portal:
Retain existing customers
Additional services for customers
Increased sales because of personalized proposals, quotes
Cusotmer self service
Improved customer service

Remote Claims:
Less manual tasks for backoffice
Automation of decisions and tasks
Improved claims service for customers
Reduced claims administration costs

IMS Shared resources:
Sales task automation
Reduced cost of insurance product change and support
Reduced costs and improved quality of customer service

http://www.nexum-it.com

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Nexum IMS Suite, the Insurance Management System

  1. 1. Nexum IMS Suite Insurance Management System Mihails Galuška Nexum Insurance Technologies mihails.galuska@nexum-it.com http://www.linkedin.com/in/mihailsgaluska +371 29137360
  2. 2. IMS Suite Backoffice Agent Sales Assurance Reporting Bank Clients Products Policies Claims Web Sales control Money Debt Limits Management
  3. 3. Clients Payments Invoices Who is the client? What does the Related clients, persons Policies client mean for us? Quick access to client’s information Personal info, Improved customer service documents Manager Claims Risk rating
  4. 4. Products Both standard and unique products - Reporting - Sales - Claims - Money Management
  5. 5. Policies Premium calculation formulas Reduced costs of sales operations Sales proposal Universal Automated premium calculation generator Automated proposal generation Increased sales – automated renewal control, Web sales Standard Printouts ... 201 200 2 8 201 200 1 9 201 Electronic 0 signature Renewals
  6. 6. Claims Invoices Payments Reduced manual efforts for experts, claims handlers Accident events No paper flow Regress Fast customer service Internet claims Claims applications Sophisticated claims reporting Partners Provisions Documents
  7. 7. Money management Merged invoices Invoices Automation of accounting tasks Commission Payment Cash flow management scheduling control Improved Account plan customer experience Payment Payment control methods Payment to invoice automated Bank payment mapping import/export
  8. 8. >=5000 EUR >=5000 EUR Limits Automated control of limits <5000 EUR <5000 EUR Secret electronic code <1000 EUR <1000 EUR Policies Payments Reduced fraud Control of risks and payments Quick remote authorization of transaction
  9. 9. Realistic and actual data about business performance Reports Management Data warehouse Accountant Manager Premiums Claims Provisions Commissions Sales Channels Products Cash flow Partners Nexum IMS Debts database ... Agents, brokers
  10. 10. Agent sales Partner rights administration Commissions Increased sales revenues, larger agent network & customer base Sales proposals Standard and policy issue products Reduced workload to backoffice, external remote sales channel Control of agent and broker Premium performance calculation Printouts formulas Web client Partner over public reports networks
  11. 11. Web Sales Credit card Automated payments invoicing Acquire new customers No intermediary sales commission Standard Automated products underwriting Short sales cycle, immediate payments Low sales administration costs Bank-service Automated payments policy delivery Improved customer service Automated premium Anonymous calculations client access
  12. 12. Client portal Web Sales, Invoice history Renewals & status Retain existing customers Additional services for customers Bank Policy history, Authorization status, docs Increased sales because of personalized proposals, quotes Cusotmer self service Personal info Personalized management marketing Improved customer service Claims history Web Claims & status
  13. 13. e-Claims New Web claims e-policy claims from partners Less manual tasks for backoffice New Web claims Import of Automation of decisions from customers partner claims and tasks Improved claims service for customers Reduced claims Claims status Auto payment control online decisions administration costs Task lists, auto Automated reminders coverage control
  14. 14. IMS Shared Resources Sales task automation Reduced cost of insurance product change and support Reduced costs and improved quality of customer service Customer and Preminum partner calculation database formulas Background services Import/export Reminders Change of status Nexum IMS ... Documents databse
  15. 15. Business benefits Business IMS implementation Goal (example) strategy Reduced costs Automated premium calculation - 15% HR costs in sales of sales Web sales channel department Automation of manual tasks for sales operations operations Automation of manual tasks for renewal operations Automated commission management Automated reports Reduced costs Automation of manual tasks for claims registration - 15% HR costs in claims of claims Reduced paperwork department Electronic documents handling Partner claims operations Web claims Automated reports Reduced costs Automated invoice generation - 15% HR costs in of accounting Merged invoices accounting department Payment to invoice automated mapping operations Automated payment control Automated reports Reduced risks Identification of customer-associated risks Reduced risks Automated control of underwriting limits Automated control of claims payment limits Reduced fraud Increased sales New automated sales channels + 15% increased sales revenues Improved customer service, loyalty revenue for standard products
  16. 16. Nexum IMS implementation project lifecycle Business analysis Defining Implementation Business Requirments Project cycle 4-8 months Configuration & Testing Development
  17. 17. Why Nexum? Innovative consulting services and technologies for insurance business Knowledge and Project delivery on-time experience of leading and on-budget is a must insurance companies in our people Technology guru Reliable partner – stable and profitable company By 2009 investments in Nexum IMS development reached 5 000 000 EUR Average return on investments period for Nexum IMS is 1-2 years of use
  18. 18. www.nexum-it.com

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