In order to score strategic mileage over the competitors, various IT initiatives of an Insurance carrier, needs to address three prominent challenges.
SymbioSys Technology Solution Accelerator (STSA) is an innovative and ready-to-use, insurance specific business application framework which can be used to quickly build solutions that address the business pain areas.
Based on its successful transformation experiences C2L BIZ has developed a complete perspective on the architecture requirements of Insurance industry. C2LBIZ’s Solution Centre provides a factory equipped with Symbiosys Technology Solutions Accelerator, which incorporates the most appropriate technologies for today’s business complexities with the flexibility to seamlessly integrate with the exiting IT applications.
System Overview
Business Case
Insurance products are extremely complex and every insurer has unique business rules and processes. Off-the-shelf solutions, when deployed, unavoidably result in functionality gaps. On the contrary, the customized solutions that address these functionality gaps, takes too much time and resources for development and deployment. Moreover, they often lack scalability and flexibility to incorporate the regulatory and technological changes. As such, insurers need midway approach which is part off the shelf and part bespoke so as to address the issues pertaining to functionality gap, scalability and flexibility.
The extensive configurability of our STSA gives insurers both speed and customization. Further, STSA is an extensively tried and tested building block for insurance specific solutions. Importantly, STSA can be seamlessly integrated with the existing application portfolio. As a result, it significantly cuts the development time and cost; and since it has already been tested in live environments, it is superior to components that are built from scratch.
Business Benefits
STSA gives the Insurer a sharp competitive edge because it scores high on the vital business metrics of time, cost, and quality.