Fadata launches new module to optimise complex decision-making processes for insurance claims.
Munich-headquartered insurance software provider Fadata has added a new module to its INSIS insurance process platform that aims to automate claims processes.
Insurance businesses worldwide can streamline their digital transformation with a single-managed solution through the latest addition to the INSIS platform. The module will enable insurers to have better governance when dealing with complex claims operations.
The module’s abilities extend to the full claims lifecycle and intend to produce tailor-made outcomes for customers while delivering workflow efficiency for the insurers at the other end.
The update incorporates the use of open APIs to enable insurers to tap into new revenue opportunities, business channels, customer experiences and ecosystems by allowing integration with third-party systems.
Highlights of INSIS claims module
The module promotes claims automation across all lines of business, including property and casualty (P&C), life and health products.
The benefits it garners include reduced delivery and operational times and minimal low-code configuration effort. Above all, the cloud-ready solution aims to streamline decision-making processes within the claims lifecycle, coming as a welcomed addition to the company’s existing portfolio of software, as Sven Schöner, its head of product management, explains.
“With INSIS claims module, we are optimising the decision-making processes, bringing clarity to operations, and making it easier for insurers to accomplish informed decisions quickly,” he comments.
Schöner cites the goal of the module’s launch as to “help our customers to be faster than the competition – faster to serve customers, faster to grow and faster to expand.”
“Aside from delivering a much more efficient back office, INSIS Claims Module is designed to help insurers raise customer satisfaction and consequently boost retention,” he adds.
“By doing so, insurers can ensure their business success, and with the flexibility that INSIS Claims offers, can be confident that they can do so well into the future.”
Fadata Group has clients in over 30 countries across the globe. Private Equity Riverside and the El Segundo-based private equity firm Lovell Minnick back the company, which has offices in more than five European cities.