Sun Microsystems introduced the Sun Distribution Channel Portal solution to help the insurance industry open up new markets and better serve new and existing customers by making it easier to develop new product distribution channels. The solution includes Sun servers, storage, services and software to help insurers reach new customers through non- traditional channels such as banks, supermarkets, post offices, kiosks, telephones and PDAs. The Sun solution also helps insurers reduce bottom-line costs associated with traditional distribution channels and offers ways to improve customer service.
The distribution channel portal solution has straight-through Processing (STP) capability to bring the back office systems through to the front office. This means insurers can sell existing insurance products and create, launch, and manage new products-without adding IT processes that could delay the sales cycle. Accessible via an Internet browser, the portal presents a single customer view and covers all insurance products in any language and in any currency. It also delivers real-time performance monitoring of agents, products and channels, and offers First Notice of Loss to improve claims handling.
"In today's insurance industry, the product is no longer a competitive differentiator. What is most important today is how insurers find and serve their customers," says Larry Scott, vice president, global financial services industry for Sun Microsystems. "Our new solution enables insurers to discover and implement new distribution channels in order to serve new markets without increasing expense ratios."
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