nexum ims suite, the insurance management system
DESCRIPTION
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.comTRANSCRIPT
Mihails Galuška
Nexum Insurance Technologies
http://www.linkedin.com/in/mihailsgaluska
+371 29137360
Nexum IMS Suite Insurance Management System
IMS Suite
Products
Policies Claims
Clients
Money Management
Limits
Backoffice Agent Sales W
eb S
ale
s
Reportin
g
Debt
contr
ol
Bank
Assura
nce
Clients
Invoices
Related clients, persons
Claims
Manager
Policies
Personal info, documents
Payments
Risk rating
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
Electronic signature
Universal
Standard
Sales proposal generator
Premium calculation formulas
Renewals
Printouts
Reduced costs of sales operations Automated premium calculation Automated proposal generation Increased sales – automated renewal control, Web sales
...
2008
2009
2010
2011
2012
Claims
Documents Provisions
Claims applications
Accident events Regress
Invoices Payments
Partners
Reduced manual efforts for experts, claims handlers No paper flow Fast customer service Internet claims Sophisticated claims reporting
Money management
Invoices
Payment methods
Payment scheduling
Merged invoices
Payment to invoice automated mapping
Bank payment import/export
Commission management
Account plan
Payment control
Automation of accounting tasks Cash flow control Improved customer experience
Limits
<1000 EUR
<5000 EUR
>=5000 EUR
<1000 EUR
<5000 EUR
>=5000 EUR
Secret electronic code
Policies Payments
Reduced fraud Control of risks and payments Quick remote authorization of transaction
Automated control of limits
Reports
Accountant
Management
Manager
Agents, brokers
Nexum IMS
database
Data warehouse
Premiums
Claims
Provisions
Commissions
Sales
Channels
Products
Cash flow
Partners
Debts
...
Realistic and actual data about business performance
Agent sales
Web client over public networks
Partner reports
Printouts
Sales proposals and policy issue
Standard products
Partner rights administration Commissions
Premium calculation formulas
Increased sales revenues, larger agent network & customer base Reduced workload to backoffice, external remote sales channel Control of agent and broker performance
Web Sales
Automated invoicing
Standard products
Automated policy delivery
Bank-service payments
Credit card payments
Acquire new customers No intermediary sales commission Short sales cycle, immediate payments Low sales administration costs Improved customer service
Anonymous client access
Automated premium
calculations
Automated underwriting
Client portal
Invoice history & status
Bank Authorization
Web Claims
Personalized marketing
Policy history, status, docs
Personal info management
Web Sales, Renewals
Claims history & status
Retain existing customers Additional services for customers Increased sales because of personalized proposals, quotes Cusotmer self service Improved customer service
e-Claims
New Web claims from partners
New Web claims from customers
Task lists, auto reminders
Auto payment decisions
Import of partner claims
Claims status control online
e-policy claims
Automated coverage control
Less manual tasks for backoffice Automation of decisions and tasks Improved claims service for customers Reduced claims administration costs
IMS Shared Resources
Import/export Reminders Change of status ...
Background services
Documents
Customer and partner
database
Preminum calculation formulas
Nexum IMS databse
Sales task automation Reduced cost of insurance product change and support Reduced costs and improved quality of customer service
Business benefits
Business strategy
IMS implementation Goal (example)
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
- 15% HR costs in sales department
Reduced costs of claims handling operations
Automation of manual tasks for claims registration Reduced paperwork Electronic documents Partner claims Web claims Automated reports
- 15% HR costs in claims department
Reduced costs of accounting operations
Automated invoice generation Merged invoices Payment to invoice automated mapping Automated payment control Automated reports
- 15% HR costs in accounting department
Reduced risks Identification of customer-associated risks Automated control of underwriting limits Automated control of claims payment limits Reduced fraud
Reduced risks
Increased sales revenues
New automated sales channels Improved customer service, loyalty
+ 15% increased sales revenue for standard products
Nexum IMS implementation project lifecycle
Business analysis
Defining Business
Requirments
Configuration & Development
Testing
Implementation
Project cycle 4-8 months
Why Nexum?
Knowledge and experience of leading insurance companies in our people
By 2009 investments in Nexum IMS development reached 5 000 000 EUR
Project delivery on-time and on-budget is a must
Technology guru Reliable partner – stable and profitable company
Average return on investments period for Nexum IMS is 1-2 years of use
Innovative consulting services and technologies for insurance business
