Client is USA based and serves few of the fortune 500 companies in the Insurance industry. They wished to develop a web-based product to automate insurance process. They required a system capable of managing insurance policies, claim management, risk management, incident management and Certificates of Insurance. They wanted it to be adaptive, customizable, and innovative.
The challenge was to develop the application which can be customized to cater to the needs of different organizations. They also needed adaptive functionality for report scheduling and ad hoc report generation. The system should be scalable, reliable and highly secured to protect the sensitive database.
Database:Microsoft SQL Server
External Tools or Components:Fusion Charts
TatvaSoft provided a web-based solution using Microsoft Technology with following features:
- Manage all types of policies, broker and carrier information
- Enlist Policy details covering lines of businesses and cost centers.
- A detailed description of a policy covering damages due to fire, flood, and wind.
- Add new claims for the policy covering business lines like worker compensation, auto liability, general liability, executive risk etc.
- Search policy claims based on the details such as claimant, driver, Date of the accident, reporting date etc.
- Helps to schedule payment.
- Easy vendor set up as claims are assigned to particular diaries for vendors.
- Maintain insurance documents along with attachments or notes added to the insurance policy.
- The claimant can receive emails for insurance letters and other related documents. Same emails can be forwarded to the insurance company too.
- Report Module for Generation of policy summary report, claim summary report, ad-hoc report generation depending on the mentioned criteria like coverage letter and set output fields. This establishes the feature of Customized reporting and data analysis.
- View and export to excel/pdf user security rights report
- Maintain risk profiles to claim insurance policies
- Manage and maintain insurance details which are relevant to the claims
- Manage the incident details, claimed equipment and settlement
The client drew immense benefits by virtue of its association with TatvaSoft. Extensive customization, endless scalability, workflow automation, KPI based dashboard and smart tag attachment features left customers highly satisfied. "Claims Management" helped the client in effective management and maintenance of risk profiles, better monitoring and control over the risk cost, consolidation of insurance related information at a single place and access to right information at right time with customized reports and its auto scheduling functionality.