Industries
Insurance
Insurance organizations today face heightened competition, industry consolidation, challenges to traditional distribution channels, increased demand for product variety and customization, and higher expectations for evermore sophisticated customer service capabilities. These challenges, combined with today's new and more complex regulations and compliance imperatives such as Sarbanes Oxley and HIPPA are forcing insurance companies to re-evaluate and re-engineer their business processes in order to improve efficiencies and increase customer satisfaction.
Those companies that are able to implement business processes that are faster and lower in cost, meet the regulatory challenges and enable employees to make better decisions when they are needed most will gain in the marketplace. While focusing on reducing costs and streamlining operations, companies are also correcting technological deficiencies while maximizing the value of existing systems.
Improved Process Efficiency
Recently, the drive to improved processing efficiency has been most visible in Straight Through Processing (STP) initiatives. While the term “STP” has become somewhat overused, the concept of increasing financial transaction processing capacity at a reduced unit cost is very much a corporate goal.
The Agentis Software Goal-Directed technology platform enables the objective of exception-based process automation solutions. Organizations can use Agentis technology to transform legacy applications gaining greater automated transaction processing capability while reducing the need for manual intervention.
Faster Introduction of New Products
The business and competitive environment for insurance companies is also driving a need to innovate new products and services like never before. With the rapid standardization and commoditization of core products, the desire and need to differentiate has escalated. The ability to bring new products to market quickly is crucial even if the competitive advantage gained is fleeting.
Agentis technology is especially suited to this problem. The model driven architecture not only lets solutions be designed in business terms, but there is no wait to create the code as the Agentis application is created directly from the business model! Because the technology is based on goal-directed intelligent agents, the core ingredient is the business goal. A known commodity even in the dynamic environment of new product creation. The easy adaptability and maintainability of the Agentis business models pairs well the constantly changing and evolving business requirements that characterize a new product launch.
More Efficient Regulatory Compliance
Sarbanes Oxley, The Patriot Act, Basel II, GLB and other regulatory and compliance demands have accelerated the need for insurance companies to be both scrupulous and transparent in their recordkeeping processes.
Agentis solutions in production at a major insurance company has already proven its value in validating systems changes and auditing configuration records.