Pegasystems advances Pega Product Composer System for health insurers to offer more personalized plans and optimal Customer Experience
With Pega PCS, improved data access allows insurers to bring new products to market faster while enabling better collaboration and transparency
CAMBRIDGE, Mass. – January 17, 2017 – Pegasystems Inc. (NASDAQ: PEGA), the software company empowering customer engagement at the world’s leading enterprises, today announced advancements to Pega® Product Composer System (PCS) for Healthcare, which simplifies benefit and product development and lifecycle management for healthcare organizations. New capabilities make it easier for health insurers to customize new plans and share product and benefit information with their members, provide better customer service, and increase transparency throughout the organization.
Traditionally, health insurers offered a limited number of one-size-fits-all plans, which existing legacy systems could accommodate. However, the majority of today’s consumers demand customized plans and service that reflect their personal needs. Combined with the unprecedented pace of regulatory change, these legacy systems struggle to accommodate a shifting industry. The following advancements to Pega PCS ensure health insurers can respond to these changes while delivering optimal customer experiences:
- Improved data access: As the market demands new products and benefits, access to reusable content eliminates the need for insurers to manually rewrite and recode plans every time they bring a product to market. Pega PCS automatically loads new plan, product, and benefit data into sales, customer service, operations, and compliance applications to ensure transparency, collaboration, and better communication with customers.
- Version control for products and benefits: Organizations can ensure they are working within the most up-to-date version of each product and benefit to guarantee accuracy during every customer interaction. For example, Pega PCS eliminates the need to sift through different product iterations by automatically determining what each member is using so claims are paid out accurately and quickly.
- Manage a product’s natural lifecycle: From the initial launch of a new product through its retirement, employees can collaboratively update and work on a product throughout its lifecycle. Additionally, real-time decisioning capabilities enable employees to determine when changes need to be made to a product, or when it’s time to introduce a new product to the market.
- Easily incorporate and comply with new regulations: Pega’s automation capabilities allow organizations to quickly ensure plans are compliant or update in mass when needed, eliminating time-consuming manual processes inherent in outdated legacy systems.
For more information on Pega’s healthcare solutions, visit: https://www.pega.com/industries/healthcare.
Quotes & Commentary:
“When it comes to bringing new health plans to market, many insurers lack the flexibility to deliver customized plans as quickly as consumers expect. Additionally, siloed information regarding plans and benefits prevents insurers from providing the best customer service possible,” said Susan Taylor, vice president and business line leader, healthcare, Pegasystems. “Pega PCS is helping insurers deliver more customized plans with improved organizational transparency, resulting in improved customer experiences and happier, more loyal, and better informed customers.”
The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.
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