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Achieve end-to-end integration with service providers, core insurance systems and business processes
Property and casualty (P&C) insurers are under immense pressure to increase competitiveness and customer satisfaction, while keeping costs at bay. Advent of new technologies and increased adoption of best-of-breed products based on XML, Web Services etc., coupled with vast number of in-house legacy applications acquired through mergers and acquisitions is driving insurers to seek flexible integration solutions.
In order to do this, insurers have to overcome the following challenges:
- Underlying processes and applications are heavily siloed with too many applications on disparate platforms and outdated technologies
- Products from independent software vendors and third party data and service providers are highly fragmented
- Coordination among various software vendors and data and service providers is complex and uniquely challenging
- Not enough time or skilled resources are available to implement and maintain industry standards
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