Polaris Launches Claims Processing Solution

Polaris Financial Technology Ltd., announces the launch of Intellect Claims, a comprehensive, cloud-enabled claim processing system that caters to several lines of business, including disability health.

Built on Customer Business eXchange (CBX) technology, the new platform will take all of the elements that make claims processing so complex and bring them together in a simple and accurate environment. Intellect Claims' solution architecture leverages a combination of intuitive interconnected smart technologies (HUBs, workstations and component-based architecture), that impacts cost, delivery schedules and focus on productivity.

Polaris' proprietary HUB technology allows easier integration with key systems such as policy administration, document management, finance and accounting systems. HUBs also help in harnessing business intelligence at one place and mitigate risk, and provide better regulatory control and intelligence.

The role-based workstations enable common front ends and drive efficiency with emphasis on customer-facing operations through role based work canvases, as against conventional hierarchical menus,

The loosely-coupled component architecture offers flexibility to create solutions that can be customized to client specific needs. They can be re-used across channels and product lines and can be changed at the speed of client's business.

"Our product suite delivers unprecedented complexity reduction due to its flexibility in configuring claims processes and setting up role based work stations," says Pranav Pasricha, global head if insurance for Polaris. "It allows carriers to proactively manage cases and improve payment outcomes. Intellect Claims' architectural approach provides the IT organization with an industry standard compliant (ACORD), highly modular and configurable asset, built on sound and industry standard technologies. This gives us the ability to effectively out-compete the other offerings in the market today in terms of business value, implementation cost, timeline as well as long term TCO."