Benefit

PAC Total’s proposed TIA Solution, the core insurance system is unique in offering what leading insurers of tomorrow require in terms of modularity which preserves flexibility to ensure that the system “grows” to meet the insurers immediate and future business needs.

As benefits are multidimensional we have grouped them in four categories: Operating Benefits, Claims Benefits, Product Benefits and System Benefits

Below are the illustrations of the benefits realized from TIA Solution adoption by customer sites according to the four categories.

Operating benefits realized - customer example

Process
• Transformation of focus from products, system and process to customer sales and service

Customer Services
• 95% of customer request handled in one call
• Customer complaints over claims settlement reduced by 25%

Automation
• 70-90% of products issued directly
• On-line coverage with instant documentation

Workflow
• Dynamic adaption of workflow to reflect changing conditions (exception based)

Cost
• Operating costs down by 50%
• Cost ratio reduced by 5-7 percentage points

Claims Benefits realized - customer examples

Profiling
• Expectation based underwriting
• Expectation based claims management

Processing
• 50% of claims at first contact
• Average time to close claims reduced by 20%
• Extended supply chain management

Leakage
• Targeted claims investigation
• Improved information reduces 6-8%
• Extended Process reduces 5-8%

Cost
• Claims handling productivity up 20%
• Claims ration 20% below market average information management

Products Realized - customer examples

Time to market
• Simpler products less than one week
• Complex products less than 3 weeks

Flexibility
• 40 car insurance products merged into 5 from a maintenance point of view while increasing the number of customer offerings

Maintenance
• Instant update of products and deployment directly by products managers

System Benefits Realized - customer examples

Availability
• Online 24×7 channels
• No downtime caused by TIA
• Scalability up to 7,500 concurrent users documented

Simplicity
• Consolidation of 7 bespoke systems into one
• Single instances operate across borders
• Integrated for data consistency and no redundancy

Maintenance
• Annual releases with products enhancements
• Upgrades in weeks (2) without jeopardizing configurations (excel planning and test)

Cost
• Reduces maintenance resources 25% to 60%