Straight through processing | Software AG
Straight through processing can help insurance companies achieve dramatic gains in efficiency. Using automated systems to process claims without human intervention or duplication of efforts, straight through processing enables claims to be processed faster and more cost efficiently while also improving customer satisfaction.
Implementing straight through processing is not an easy task, however, as many insurers have IT environments filled with legacy systems and paper-driven processes. Yet as antiquated as many of these systems are, they tend to drive business-critical processes and are an indispensable part of the IT environment. As much as insurers might want to switch to new straight through processing technology, it often seems impossible to do so without major disruption to the business and customer service.
That’s where Software AG can help. Our Roundcube solution is a cloud-enabled, modular policy, billing and claims management solution that maximizes straight through processing for greater efficiency and lower total cost of ownership. Roundcube is platform independent, enabling insurers to layer it on top of existing core insurance systems, extending legacy applications with customer-centric capabilities for improved claims management and straight through processing.
Achieve straight through processing with Roundcube
Roundcube enables straight through processing of insurance claims through automation, helping to reduce errors, improve response times and deliver better service to customers. Designed with a clean and intuitive user interface, Roundcube offers a consistent experience across any channel to improve satisfaction and loyalty from customers, employees and agents.
Roundcube also enables straight through processing by giving users the tools to change business processes and business rules instantly, using best practices that can be accessed out of the box and easily modified when needed. This solution can be easily integrated into any existing IT environment no matter how complicated, and provides quick access to critical information through personalized dashboards with graphics, reports and easy drill-down capabilities.
Benefits of Roundcube for straight through processing
Using Roundcube for straight through processing and claims management, insurers can:
- Engage customers with real-time solutions for policy and claims management
- Lower customer service costs with 24/7 customer self-service
- Preserve and extend legacy applications while avoiding the risks of rip-and-replace
- Increase agility in market responsiveness by implementing a modular solution that allows you to add capabilities as needed
- Increase visibility and reduce risks with improved real-time analytics for detecting fraud
- Rely on built-in out-of-the-box best-practice processes
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