IBM announced two new advances in the insurance industry--a solution for improving operational efficiency and a framework for process acceleration--that are designed to help insurance carriers lower costs and increase customer satisfaction by handling core processes, such as claims and policy processing, more efficiently.

IBM's new Insurance Operations of the Future (IOF) solution is powered by a service-oriented architecture (SOA) built on IBM software. The IOF Solution recognizes inbound work tasks, including those coming from unstructured sources such as paper mail, voicemail, e-mail, and the Web. The solution can extract the relevant information, enrich it, and route the work task to an automated process, a clerical process, or a specialist process path.

The foundation of IOF is the new IBM Insurance Process Acceleration (IPA) Framework, which includes elements from IBM's WebSphere, Information Management, Lotus, Rational and Tivoli portfolios. The framework provides the SOA infrastructure required to enable solutions like IOF target processes like claims management, policy administration, underwriting, new business processing, and self-service inquiry and payment.

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