Financial services firms have some of the most complex data needs in the world. Challenges include global competition, huge and expanding volumes and velocity of data, and the ever-increasing complexity of risk and regulatory environments. This means that the need to integrate and manage data is greater now than it has been ever before.
Staying fiercely competitive in today’s financial services environment means dealing with constantly changing rules and regulations and evolving technology and multitudes of customers, products and choices for distribution channels. Managing customers, products, sales and service channels, as well as effectively managing your risk is critical to your bottom line.
High performance companies are mastering complex data and information challenges by transforming huge amounts of data into valuable enterprise business intelligence. Some point that needs focus on:
- Focus on a holistic view and key aspects of the risk spectrum – market, credit, underwriting and operational risk providing transparency and better data-driven business decisions
- Turn investments in regulatory compliance into strategic advantage
- Predict customer behavior and synchronize customer interaction across multiple touch points – for better service, more effective interactions, and potential fraud prevention
- Actively manage a customer’s portfolio to maximize profitability with reduced risk exposure
Most companies conduct consumer research to gain insight into how customers view company performance against previous performance, but few have the ability to compare themselves against industry-wide customer satisfaction benchmarks. Even fewer can effectively translate research findings into solutions that positively impact business performance and set them apart from the competition.
The financial services industry has seen margins squeezed and losses mount in the current global economic downturn. As a result, the industry is being reshaped through broad industry consolidation, and an increase in government regulation and risk management. During these times of change, the stakes have been raised with an even greater focus being placed on executing throughout the organization. However, during volatile times, execution becomes an even greater challenge. When strategy shifts, people are often confused and may not be working on what matters most to the organization or they may be disengaged and not performing to their capabilities. In today’s tough economic environment, the ability to execute is what separates the winners from everyone else.
Insurance
There is a significant need within the insurance sector to modernize systems and the development environment. Companies need a collaboration-based IT environment that is robust, dynamic, and agile. Current legacy systems in many large corporations are not equipped as well as they could be in order to meet current or new business requirements.
With so many applications running simultaneously in large insurance companies, and increasing volume and data loads, companies need to get more from what they have.
Today’s insurance professionals are inundated with regulatory-driven business issues across virtually every department in their company. These issues demand thorough, yet expeditious resolutions. In a business climate where “we need to do more with less, faster” is the oft-heard mantra, it takes unique organizations, with focused resources, to help you manage these challenging times and conflicting priorities. We understand these unique demands and provide industry leading solutions to insurance regulatory compliance challenges.
We have solutions for these challenges. It is our business is to help Insurance Companies to strategize and operate by leveraging on Information Technology, a key enabler to achieve transformational growth through Operational Excellence and Innovation.
Core Insurance Systems
For core insurance business application, we offer a single end-to-end Insurance Solution, Aetins-Insurance Solution Framework, that covers all lines of business: Individual Life, Group Life, Investment Linked and General. Aetins-ISF spans across functions like illustration, quotation, new business, policy servicing, claims, agency management, commission and benefits, accounting and services. All the offerings above are also available in our Syariah (Takaful) insurance systems.
[More on Aetins-ISF...]
Document Management for Insurance
For document management, we offer a platform as an integrated information management suite that provides a secure, central repository and rich content services to help create, capture, manage, archive, and re-use business critical information scattered across the enterprise. This information can include any type of electronic record – images, documents, presentations, databases, spreadsheets, raw data reports, and procedure – virtually ANY data or document type. Electronic records uploaded into repository are automatically indexed, allowing for searching and rapid retrieval of needed information. All of this leads to a dramatic reduction in manual labor of pushing paper documents, e-mails and transactions into business workflows.
[More on Docuflo - Document Management for Insurance...]
Business Intelligence (BI)
For business intelligence dashboard, we provide a platform that delivers benefits such as insight everywhere, mobility, and a social and collaborative experience. Keep loss ratios as low as possible while offering the right products to the right customers. Empower the entire business to optimize decisions that affect performance and profitability. It also meet IT requirements for: security mechanisms to protect sensitive data, the ability to crunch massive volumes of data quickly, and advanced yet easy-to-use administration tools. For Business Intelligence Dashboard, we use QlikView Business Discovery platform.
[More on QlikView Business Discovery platform...]
Banking
Document Management for Banking
Printed Statements are often one of the main points of contact between banks and its customers. Statements, unlike other types of mail are usually opened, read and kept, making them an attractive marketing vehicle. However, with the cost of postage and manpower on the rise, and with banks always looking for ways to reduce operational costs, including time (printing, sorting, packing, mailing) and material costs associated with the printing of statements. There is no better time to move customers from print to e-Statement. It provides an exact replica of a paper statement, it delivers via email, it provides dynamic presentment and delivery, it expects enhanced customer service and a reduction of costs, and most of all, it’s green.
[More on e-Statement System...]