Accurate and meaningful performance management information is vital to any successful company in the insurance business. An insurer must monitor the risk and profitability of every part of its business and to revise its course as soon as possible. Performance management information must be integrated into an insurer’s management process.
The SuperLogix insurance starter kit focuses on:
- Customer profitability
- Agent and broker performance
- Claims analysis
- Capital management
- Risk analysis
Our customer profitability feature tracks the purchases and payments made by customers against the costs of servicing the customer including claims history. This feature allows the insurer to determine rate increases for the customer in addition to managing the customer’s life cycle.
Agent and Broker Performance
SuperLogix can keep track of commission rates paid to each agent or broker. The insurer can analyze these rates by agent or broker, geographical location and line of business.
Profitability analysis by broker or agent allows the insurer to identify which agent or broker is performing well and which ones are not.
SuperLogix can link claims to events and track claims expenses at a detailed level.
SuperLogix can flag the status and category of a claim, whether it is a personal injury claim, a disaster-related event or a claim in litigation. Claims expenses can be tracked at a detailed level, allowing management to run flexible expense reports based on multiple parameters.
Ensuring that its capital is properly invested is a key element of an insurer’s long term viability. SuperLogix’s capital planning module allows the insurer to track each investments – type, term, currency, risk, and appreciation.
SuperLogix can take your risk analysis data and model how your revenues, expenses and profitability are impacted by the different scenarios
Product innovation and services are becoming more and more challenging in the Insurance industry. Companies need to be on top of information to gain an advantage over the others. Common business challenges include:
- Multiplicity of systems and interfaces
- Data integrity issues as a result of duplication
- Difficulty in support and maintenance
- Integration of additional applications
- Lack of end-to-end business process support
SuperLogix has a deep understanding and experience in the insurance domain. We can not only help solve these common Business Challenges, but can also provide the agility needed to support evolving business demands. We have domain expertise to
Transform your claims processing system
Production support and maintenance of your claims processing system
Complete design, construction, testing, and implementation of archival, retrieval and purge functionality
Automated Archival, Retrieval and Purging across policy and billing applications
What can we do for you?
Provide executive reporting with consistent tabular and graphical analysis
Insurance KPIs to manage fiscal integrity, reserves, profitability, rate structures, and marketing effectiveness
Consolidate insurance data into consistent, actionable information
Correlate data across claims and policy administration
Data warehouse for reporting from data in multiple systems
Reports with appropriate security parameters
Design and development of web-based end-to-end solution frameworks
- SuperLogix’s consultants can help with
- IT Strategy and Consulting
- Business Process Management
- Business Solutions
- Products based development