OpenText Solutions for Insurance: Business Benefits

OpenText has concentrated its efforts on delivering three major business benefits to the Insurance industry. These include the ability to grow revenue while reducing cost, reduce business risk, and meet or exceed compliance and regulatory requirements.

Insurance solutions from OpenText focus on delivering a variety of business benefits and capabilities by

Improving information, data sharing, and process management so that an array of personal and commercial products can be offered to the customer at the most opportune time.

• Using information to further increase customer loyalty and reduce customer defections.
• Automating some of the more historically complex tasks, including commercial lines underwriting that has sought to harness the benefits of technology for so long.
• Leveraging our core competencies in contract management and legal to, for example, manage the reinsurance contract certainty quagmire.
• Developing industry portals, including The Insurance Workplace (TIW), that deliver information sharing and management for faster underwriting and quicker response by companies and brokers.
• Incorporating key legal and document management components that are capable of providing maximum responsiveness to any regulatory action or potential litigation.
• Incorporating straight-through-processing business techniques that both improve efficiency and minimize error.