The insurance industry is under extreme pressure in today's marketplace. It is facing the most significant economic and competitive challenges in its history such as stringent regulatory controls, a massive change in consumer demographics and rising operational costs, amongst others, facing insurers today, companies are finding it difficult to position them appropriately.
To succeed in this rapidly evolving business climate, insurers are compelled to investigate ways by which they can improve bottom-line operational efficiency and drive top-line growth, and still meet and exceed the expectations of their customers. Focusing on modernization & consolidation of the various operational and transactional systems of companies, the IT organization within the insurance company is constantly working towards building a customer-centric model.
At Microcell Systems, the insurance practice is primarily built around these key challenges faced by insurers today. We achieve this through a powerful combination of Insurance domain expertise, process excellence and a flexible, responsive and personalized approach to service.
Today, insurance companies are offering a variety of products such as Life and Health Insurance, Property and Casualty Insurance and General Insurance, amongst others. With a complex policy, companies are forced to overcome a number of challenges, in their day-to-day works, such as:
- The need for improved technical & operational efficiency through Application Consolidation
- Transformation and modernization of legacy applications to meet business goals
- Data and Business Process consolidation during Mergers & Acquisitions
- A generally high cost of development and maintenance of business applications
- A pronounced need for compliance to increasingly growing numbers of statutory and regulatory requirements as well as reporting needs.
- Regular cost, quality, reliability and operational integrity issues that require constant consideration
WHAT MICROCELL OFFERS
Microcell Systems provides comprehensive services in all three generalized categories - Industry, Technology and Product. We partner with Insurance clients in a variety of engagement models, based on their requirements, to provide insurance solutions. With high class service delivery and quality, Microcell is setting industry-standards with its insurance practice solutions. These solutions includes:
Domain Consultancy Services:
Our IT consulting and insurance software solutions span a range of Insurance lines of business including Life, Annuities, Health, Property and Casualty and Reinsurance across the world. The vast pool of domain experts and business analysts utilize their experience to serve in the following business process areas:
- Incentive & Compensation Management
- Online Distribution and Channel Management
- Claims Administration ¢ Billing and Accounting Administration
- Underwriting & Policy Administration
- Optimized business processes
Microcell Systems enables companies to achieve rapid and successful product launches by providing Actuarial Services, Market Assessment, Competitor Mapping and Pricing.
Microcell understands the need for trained technology experts in the insurance industry. Our long-term relationships and high rate of repeat business are a testimony to the success of our approach. A direct emphasis on domain-centric technology solutions allows Microcell to offer the following solutions:
- Data Warehousing & Business Intelligence
- Enterprise Solutions - PeopleSoft, ERP.
- Legacy Migration & Modernization
- Application Development & Maintenance
- Infrastructure & IT Management Services
- Enterprise Content and Portal Management
- QA & Testing Services