Delivering Flexibility and Control in Insurance Operations
Decisions represent up to 70% of the tasks in core insurance processes like policy underwriting and claims processing. Increase consistency of decisions across a high volume of transactions with BRMS.
A typical insurance organization has over 300 unique business processes, with up to 900 unique activities. As many as 70% of those activities involve decisions. Your organization is making thousands of these decisions a day, in core business processes like policy underwriting and claims processing.
Manual approaches to managing operational decisions can have a significant negative impact on performance metrics in areas such as:
- Underwriting and claims leakage
- Personnel training costs
- Time to claim settlement
- Time to quote
- Time to market for new products
