Claims departments impact the bottom line of the life insurance
firm dramatically. Effective Claim analysis can drastically improve
the quality of underwriting, optimize reinsurance and assist in
product innovations. Life Insurance companies need claim processing
systems that allow for rapid integration with legacy applications,
process claims optimally, and augment functionality and services
quickly and easily.
The Majesco Insurance Claim Component is designed to deliver the benefits
of a custom-made unified claim processing solution that ensures:
| • |
Significant reduction in claim turnaround
time |
| • |
Improvement in the combined ratio
|
| • |
Reduction in claim processing costs
|
| • |
Improvement in time to market for
launching new products |
| • |
Significant reduction in maintenance
costs due to the unified claim engine |
The Elixir claim component has a unified Claim Engine that supports
processing for the following product lines
| • |
Ordinary Life |
| • |
Credit Life |
| • |
Universal Life |
| • |
Health |
| • |
Annuity |
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