Milliman USA and Focus Solutions Inc. have integrated their products to provide insurance companies with a straight-through solution for long-term care issue, underwriting, claims and policy administration.
STEP-LTC (Straight Through Enterprise Processing) will enable companies to launch new products and update older ones to respond to rapid changes in the market. Milliman USA and Focus Solutions have provided a fast track to product launch that puts the technology at the service of the product rather than allow technical constraints to influence what a company takes to market. Milliman USA’s FAST® is the core product administration event engine for policies, commissions and claims, and FAST® feeds both general ledger and reinsurance.
Focus Solutions Inc. adds multi-channel, online and offline intelligent data capture, quotes, applications and new business processing, intelligent risk assessment and underwriting, claims management, imaging integration, integration with third-party data sources, and a presentation and messaging layer for real-time administration transactions. The message model is both XML and ACORD standards based.
STEP-LTC is built using business analyst driven, visual development tools that facilitate technology transfer to the client company, thus eliminating on-going professional services expenses.
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