To thrive in today’s insurance marketplace, insurers need to offer differentiated products, available through multiple channels, to customers who want convenience and personalized service. At the same time, insurers need to hold down costs, closely manage risks, and ensure compliance with a dizzying array of regulations. Pegasystems makes insurance policy management software that helps some of the world’s largest insurers manage these challenges effectively and efficiently. Powered by our industry-leading business process management (BPM) platform, Pega insurance policy management software is used by seven of the ten largest insurance companies to achieve critical business objectives including customer acquisition, customer relationship management, intelligent process automation, and risk and compliance management.
With Pega insurance policy management software, you can quickly create and roll out intelligently targeted, highly effective customer acquisition campaigns. Organizations using Pega insurance management software report offer response rates that not only meet goals, but exceed them. Further, Pega helps turn interested prospects into policyholders with simplified applications that make acquiring insurance fast and easy. Leveraging rules-based automated decisioning, Pega underwriting software dramatically reduces application processing time, to the benefit of customers and the business. One major Pega customer reduced their policy application, quote, and bind cycle from 14 days to 14 minutes.
Customer Relationship Management
Pega insurance policy management software empowers your business to deliver exceptional service at a lower cost. The Pega unified service desktop provides a complete, integrated view of the customer and guides agents and service representatives through customer interactions in a way that best achieves customer and company objectives. Organizations using Pega insurance administration software substantially improve their one-call resolution rates as well as their success rates for up-sells and cross-sells.
With Pega insurance policy management software, you can capture key business objectives and turn them into intelligently automated, end-to-end processes that seamlessly integrate with your existing enterprise systems. From claims processing software that speeds payment on legitimate claims, to case management applications that track complex cases across multiple back-office functions, Pega insurance solutions drive efficiency, consistency, and accuracy across all facets of your operation.
Risk and Compliance Management
Pega insurance underwriting software and insurance claims software let you build risk and compliance management best practices directly into automated processes that are applied consistently across your enterprise. With Pega software, you can effectively implement risk-based pricing, improve portfolio risk management, increase compliance and policy enforcement, and reduce your costs for compliance reporting.