Comarch Competence Map For Insurance

Comarch competence map
Insurance

Jakub Lewandowski
Managing Director

Copyright Comarch 2010

Comarch competence map for Insurance

Comarch overview:

• International software house
and IT service provider
• 17 years of experience
• End-to-end products and services
for insurance, banking
and asset management
• Strong focus on process-driven
solutions
• Extensive investments in R&D:
15% of revenue

2 Copyright Comarch 2010


We deliver:



Focus on the front-end
• The challenge: • The opportunity:
– Insurance is sold, not bought – Customer data presented and
– Better informed customers require managed in a single, web-based
more know-how from sales and solution
intermediaries – Sales forces spend less time and
– Product offer gets more and more effort to perform most common
complex operations
– No coherent source of information – Modern technology reduces the
on customers maintenance cost and guarantees
the future-friendly framework
– To service a client sales forces
must use multiple, not integrated – Customer service scripts and the
applications intranet knowledge base speed up
sales force training and new
product launch
• Related products:
– Comarch Front End platform (CAFE) – Comarch Contact Center
– Comarch CRM Sales Management – Comarch CMS



Front-end support for sales force
– Agents are key factor of insurer – Build knowledge base useful for
success your sales force
– Role of the insurance sales force – Give salesmen web access to
changes to advisory one information, trainings, workshops
– Intermediaries need efficient – Provide contact scheduler and
support from insurers to succeed data of customers portfolio
– Need of education and training for – Provide useful tools for sales
sales force processing – from simulation,
– Technology affects agents loyalty offer, proposal to issued policy
– Provide daily information about
sales goal performance, points
gained and money earned
– Comarch Commission & Incentive – Comarch Business Process Management (BPM)
– Comarch CRM Sales Management – Comarch e-Learning
– Comarch Insurance Net – Comarch CMS



Direct insurance and self service
– The internet is no longer just a – Reduction of operational cost
source of information thanks to self-service for policy
– Customers need new channels of holders
contact – Access to policies and claims
– Other financial services offer anytime, anywhere
Internet accounts and services – All client contracts in a single
– Market demands constant Insurance Portal
progress in functionality and – Cutting-edge technology gives
usability more integration capabilities and
security

– Comarch Internet Insurance
– Comarch Contact Center
– Comarch CMS


Policy and underwriting automation
– Highly competitive insurance market – One product and business repository
– Constantly evolving market demands – Accelerate time to market
– Centralization of business – Whole lifecycle of policy managed
(and product) development in one single solution
– Fragmented and dispersed policy data – Comprehensive business administration
– Manual and rigid processes – Workflow engine for management
– Many silos of various information of business processes
– Underwriting and actuarial controlling

– Comarch Life Insurance – Comarch Insurance Scoring
– Comarch NonLife Insurance – Comarch Business Process Management (BPM)
– Comarch Health Insurance



Claims service makes the difference
– Insurance companies lack efficient – High-performance, low-cost claims
service and quick benefit payments administration
– Poor claim service is a major factor – Improvement of the speed and
for loss of market share accuracy of claim payments
– Market moves away from price – Smooth flow of information
competition, towards customer – Automation of business processes
orientation strategy
– Modern and safe Web-based
– Fragmented and dispersed policy solution
and claim data
– Demand for process-driven solutions

– Comarch Life Insurance – Comarch Business Process Management (BPM)
– Comarch NonLife Insurance – Comarch Insurance Claims



Business processes re-defined
– Most of BPM implementations are – Integrated “inbox” for all workflow
business-area specific based tasks
– Separate “inboxes” generate risk – Complete lifecycle of insurance
of overlooking an item policy defined in a single tool
– Lack of flexibility and integration – Separation of workflow engine
capabilities leads to most of BPM allows the insurer to develop the
implementation failures system in unlimited directions
– Event origination is usually – Document imaging accelerates
separated from the active contract the workflow while paper originals
and customer monitoring are kept in a safe and certified
archive

– Comarch Business Process Management
– Comarch Document Management System



Product management and actuary
– Lack of tools to manage products – Single centralized process for
throughout their life cycle product development
– Hard-coded product definitions – Greater repeatability and
– Definitions stored in many systems consistency in product definition
supporting particular product – Easy definition: new products
– Launching of new products takes personalized and bundled
too much time – Accelerated time to market
– Similar launch time regardless if – Product definitions, rules and rates
product is a clone or a completely created by business users
new one

– Comarch Life Insurance – Comarch Insurance DataWarehouse
– Comarch NonLife Insurance – Comarch Business Intelligence



Knowledge-based marketing
– Insurers are data rich, – Turning data into practical
but information poor information
– Marketing campaigns involve – Create dynamic marketing and
more and more media types - new segmentation analysis for
ones emerging every year improved profitability
– Cost-effective marketing requires – Precisely targeted marketing
precise planning and monitoring campaigns and product offers
– Average insurer customer loyalty based on analytical tools
decreases easily – Churn lowered with properly
packaged products and services,
dynamic pricing and monitoring of
the customer behaviour
– Tracking all campaigns from the
• Related products: idea to effectiveness analysis
– Comarch aCRM
– Comarch CRM Campaign Management
– Comarch Loyalty


Tools for back-office sales support
– Handling and controlling huge – Effective distribution of knowledge
multi-channel sales network amongst sale forces
– Need for effective communication – Build multidimensional sales force
and coordination among business structure using a flexible tool
units involved in the process – Keep control of agents - from
– Agents need constant education, recruiting process to the end of
trainings and technical support cooperation
– Report efficiency of sales
channels and optimize structures
– Organize internal coaching
meetings, trainings and events

– Comarch Commission & Incentive
– Comarch CRM Sales Management



Motivation and remuneration
– Growing market competition covers – Motivate and control sales force
also competition for the best agents by daily sales goals performance
– Ensure satisfaction and loyalty of the reports
best agents and sales managers – Optimize incentive packages
– Increase influence on salesmen – Configure all rules of
actions compensation programs using
– Show clear connection between one flexible tool
sales fact and related bonus – Automate all calculation and
– Focus agents on their sales goals booking processes
achievement – Distribute commission reports via
– Keep control corrections and frauds agent portal
– Speed up settlement process
including acceptations and claims
– Comarch Commission & Incentive
– Comarch CRM Sales Management



Investing premiums
– Markets are more volatile while – Fully automated deal routing
instruments get more sophisticated between the customer, dealer and
– New risk and compliance risk controller
regulations coming soon – Comprehensive valuation and risk
– More complex instruments on the assessment for all treasury
market operations
– Not enough focus on the middle- – All (instruments)-in-one, what-if and
office generates too much risk stress-testing to keep the risk limits
safe

– Comarch Asset Management – Comarch Performance Measurement and
– Comarch Risk Management Attribution
– Comarch Fund Valuation



Individual investment accounts
– Financial instruments bundled with – Increased effectiveness in
insurance became more and more consolidated investment account
sophisticated management
– Increasing popularity of investment – Ability to create new products with
insurance advanced investment option
– Process inefficiencies can rapidly – Control fund transactions
generate a negative asset / liability – Up-to-date investment account state
difference, which increases the
investment risk for insurer – Managing a variety of individual
investment accounts

– Comarch Life Insurance – Fund management module



Business and accounting records
– Decrease number of booking errors – Flexible definition of chart of
– Simultaneous booking in two accounts
systems – production and general – Automate insurance accounting
ledger operations
– Achieve corporate and local – Integrate individual account with
compliance with the financial general ledger
management – Improve financial management
– Deploy country-specific capabilities and oversight
to operate anywhere in the world – Easy adjustment to regulatory
changes

– Comarch Life Insurance
– Comarch NonLife Insurance



Automation of debt management
– An increase of outstanding liabilities – Dedicated, flexible solution for debt
– Growing number of defaults management process
(failures) on contractors’ accounts – Huge processes divided into short
– Local law system can impose debt- workflow actions
related legal obligations on insurers – Pre-defined processes for soft
– Overloaded employees do not keep collection and legal procedures
up with complicated processes – Improvement of recovery efficiency
and tasks – Cutting the collection’s costs
– Huge processes are too complex to
be effective and manageable

– Comarch Debt Management



Reports and regulatory compliance
– Staying up to date with changes in – Automation the process of
regulations and reporting preparation and arrangement of
requirements mandatory reporting
– More and more data to use – Centralized risk control solution
– Reporting needs grow fast – Quick information access to
– New risk and compliance current and archival reports for the
regulations coming soon Insurance Commission with
access to the source data
– Growing need of risk and
exposure control – Easy data integrations for reports
for supervisory institutions
– Many hard to use silos of various
information

– Comarch Insurance DataWarehouse
– Comarch Business Intelligence
– Comarch Fraud Detection



Day to day business reports
– Fast growing business reporting – Get operational visibility
needs throughout your enterprise
– Operational reporting is often – Quick information access to
inefficient and dispersed business reports
– Many hard to use silos of various – Assess channel performance,
information process bottlenecks and customer
– Management lacks of tools for behaviour and interaction
providing stakeholder value of its – Improved decision management
management vision systems and customer care
– Risk and exposure control becomes – Risk and business control center
critical issue by establishing a reliable one
source of information and
empowerment
– Comarch Insurance DataWarehouse
– Comarch Business Intelligence



Technology and IT expertise
– Numerous applications use – Centralized user management
different user catalogs and access meeting the highest industry
management tools standards
– Internet insurance users are – State-of-the-art payment
vulnerable to hacker attacks authorization with one-time SMS
– Changing market conditions mean codes
changing demands for the IT staff – Additional security to prevent e.g.
man-in-the-browser attacks
– Lower IT infrastructure costs
– Additional & highly skilled workforce
with a broad range of IT skills
– Comarch Security Access Management (DRACO) – Comarch Data Center
– Comarch PKI – Outsourcing services
– Comarch Security Services – Disaster Recovery Center


Comarch Competence Map For Insurance

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