Massachusetts-based Standard Insurance Company has selected CGI to build a new policy administration system for its employee benefits division.
The technology, known as FlexInsure, combines all aspects of policy administration into a single system. FlexInsure reduces manual data entry and integrates billing and contract management from multiple systems, thereby reportedly providing easier access to data for increasing functionality.
The FlexInsure solution, co-developed by CGI and Wyde Corporation, is configured using data parameters to drive system changes, without requiring reprogramming. Removing the need for time consuming hard-coded programming will reportedly allow The Standard to be more responsive to market opportunities, reduce product development time and simplify complex and costly regulatory implementation efforts.
The fully supported, customized solution provided by CGI includes a powerful rules and rating engine able to handle complex underwriting formulas and principles, facilitating more timely customized services for policyholders, insured members and producers.
CGI provides a range of consulting, systems integration, and information technology and business process managed services to help insurance companies respond to market changes, improve claims processing, manage their underwriting and rating processes, control costs and improve customer satisfaction and retention.
Was this article valuable?
Here are more articles you may enjoy.