Pega Claims for Property and Casualty Insurers provides greater ease-of-use and faster time to value through a single platform designed to support the varied claims management needs of insurers. Pega's Build for Change technology delivers rapid deployment and increased flexibility without compromising functionality.
"Property and casualty insurers need a claims solution that is easier to use, but with significantly faster time to business value," says David Carlon, director of insurance industry solutions for Pegasystems. "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."
The Pega Claims solution features case management capabilities which free up claims operations from manual tasks by automating work activities and guiding support staff to the next best action throughout the life cycle of the claim.
These capabilities foster best practices across operations and support all the components of a claim case by monitoring and managing the various roles and processes associated with case components. This approach provides visibility into claim activities, status, service level agreements (SLAs), and financials for each occurrence. Insurers benefit from a more effective way to both increase customer satisfaction and control claim costs.
The solution also leverages decision management to improve claim adjudication. This approach to claims management helps insurers reduce claim costs and mitigate claim leakage. Insurers also benefit from a lower total cost of ownership; they can leverage existing investments in legacy systems to achieve enhanced claims functionality in 90 days or less.
This new insurance solution improves claims operations by:
? Rapidly implementing configurable, end-to-end claims processes for general liability, personal and commercial auto.
? Improving retention with a consistent and efficient customer service experience.
? Controlling total claims costs with effective investigation, reserving, settlement and subrogation best practices.
? Integrating content management into the claims process.
? Delivering real-time insight and management reports on process and operational performance.
