Microsoft Insurance Value Chain SolutionsConnecting people, systems, and processes to streamline IT, boost efficiencies, and strengthen customer relationships.The Microsoft Insurance Value Chain (IVC) is a comprehensive approach to meeting these challenges successfully with a streamlined set of integrated applications and workflows based on Microsoft technologies. Microsoft and its ecosystem of dedicated partners have developed global and industry standards-based solutions that connect all facets of the insurance process, linking disconnected participants, systems, and processes. Leveraging industry standards leads to solutions that more easily integrate within the value chain and reduce IT complexity, leading to greater employee and cost efficiencies through legacy modernization. Ultimately, our IVC solutions enable a people-ready business: one that builds customer connections and strengthens profitable customer relationships. Microsoft Insurance Value Chain solutions include: To manage IT costs and increase business agility while also improving the customer experience, insurance companies require unique product design and development. We've developed a new product and configuration solution that combines Software-plus-Services, collaboration, and portals to replace or work in conjunction with legacy systems. Our partner-supported solutions include centralized data access, business rules management, reusable product structures, and connections to core transaction processing, underwriting, and policy systems to speed configuration and time-to-market for new financial products. Microsoft can help insurers migrate information from legacy tools to up-to-date systems or surround existing systems with a common desktop, cohesive interface, and central information repository for greater agility and access. Improve claims workflow by optimizing existing processes and providing access to all the information necessary to service claims. Our claims servicing solutions manage the technology that supports the business process and workflow for claims management through the life cycle of the claim, from first notice of loss to completed claim and settlement. Our solutions also include the connectivity and services that allow collaboration among all parties within the claims environment, including adjusters, the special investigations unit, the claims department, and third parties, such as auto-body shops and other service providers. Flexible Service Oriented Architectures that integrate new and existing applications result in operational efficiency, competitive differentiation, and improved financial performance. UnderwritingMicrosoft and our partners help insurance firms with solutions that automate and simplify governance, compliance, and risk management, a necessity in today's business environment. Microsoft underwriting solutions are designed to support the examination and acceptance or rejection of insurance risks, as well as classification of the accepted risks so that the proper premiums are charged. This solution assists insurers through the application of high-performance computing to fully monitor risk and identify aggregation and "hot spots" that require adjustment or mitigation. And the underwriting solution includes connection to a database to determine and display whether an applicant is insurable at standard rates, substandard rates, or preferred rates or is uninsurable. Involved players are the CIO and heads of underwriting, product groups, actuarial, and marketing. Customer and Performance Insight for InsuranceThis solution combines customer relationship management and analytics to help financial companies build more responsive and profitable customer relationships while working with a variety of sales and service channels. It includes a single view of the customer, support for new business acquisition and customer service processes, and tools and prompts to help identify opportunities for cross-selling.
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