Mphasis, an IT services provider, has launched its Billing as a Service (BaaS) solution for the insurance industry. BaaS is a cloud-based solution that enables carriers to manage their complex billing requirements.

MphasiS says BaaS helps carriers reduce billing-related costs, while increasing business flexibility, improving customer service and accelerating operational efficiency. The solution uses MphasiS’ Insurance BPO capabilities, enabling carriers to reduce time-to-market of new products; provide e-billing capabilities to customers; and help agents and insureds to make payments in real-time.

MphasiS adds that increased demand for modern billing capabilities include e-billing, automated payment processing and real-time redressal. With BaaS, carriers have a solution that can make deployment quick and cost effective.

 

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