Pegasystems Inc., a business process management and customer relationship management solution provider, announced the release of its new insurance claims solution. Pega Claims for P&C insurers is designed to provide greater ease-of-use and faster time to value through a single, unified and strategic platform that supports the varied claims management needs of insurers. Pega says that its "Build for Change" technology delivers rapid deployment and increased flexibility without compromising its out-of-the-box functionality.
The Pega Claims solution features case management capabilities, which, the company says, frees up claims operations from manual, inefficient tasks by automating work activities and guiding support staff to the next best action, for better decision making and outcomes throughout the life cycle of the claim. Additionally, Pega asserts that these advanced capabilities foster best practices across operations and support all the components of a claim case by actively monitoring and managing the various roles and processes associated with case components. This approach also helps to streamline claims handling and improve quality by providing complete visibility into claim activities, status, service-level agreements and financials for each occurrence.
“Property and casualty insurers need a claims solution that is easier to use, but with significantly faster time to business value," says David Carlon, Pegasystems' director of Insurance Industry Solutions. "Frankly, the insurance market should not have to tolerate slow deployments and lengthy IT efforts. Insurers need a new kind of solution that is designed by and for insurance business users, with intelligent automation of industry best practices. Pegasystems’ new solution dramatically reduces complexity, accelerates business value, and lowers claim servicing cost because, unlike legacy approaches, it delivers full end-to-end claims process capabilities on a single, unified and open platform."
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