Patni Computer Systems, Ltd. and FileNet Corporation havelaunched Patni's Life New Business Straight-Through Processingsolution framework. Built on FileNet enterprise content managementplatform and targeted at life and health insurance carriers, LifeNew Business STP was developed as a way to streamline, automate,and integrate key business processes and operations.

The Patni product is designed to reduce transaction processingtime, improve profitability, and increase customer satisfactionthrough a combination of content management, business processmanagement, and business rules engines. The solution promotesinternal collaboration and timely reaction to critical events,allowing relationship managers to focus on generating revenue andincreasing market share rather than tracking down applicationstatus.

Patni designed the solution framework to improve case managementworkflow and support the needs of the business. Utilizing ACORDindustry standards, Life New Business STP links business processeswith content, people, and systems, leveraging standard interfaces,applications, and languages for rapid application development.These business processes offer executives access to real-timeinformation for informed underwriting decisions.

"Given the increasing need to manage complex issues surroundingproduct distribution and third-party vendor management, customersatisfaction is emerging as an area of concern. This has a directlink with the insurance carrier's reputation and profitability,"says Bill Budde, senior vice president and head of insurancebusiness unit for Patni. "Insurance organizations need toproactively ensure they can access the right information to makethe correct underwriting decision in a timely manner. Life NewBusiness STP addresses this by linking processes with relevantcontent."