Foundation's Insurance Practice brings more than 30 years of experience to the Insurance Industry. We have experts in insurance marketing, business development and claims management and processing. The Insurance Practice has the appropriate consulting skills and capabilities to develop an open, robust and web-enabled environment for Infrastructure Management, Collaborative E-Business and Value-Chain Management solutions.
Our integrated solutions address several key challenges facing the Insurance Industry. We leverage core technical and business expertise to deliver timely, cost effective solutions that produce measurable return on investment (ROI).
| Challenge |
Customer Retention and Focus |
| Definition: |
Due to a marketplace shift from product focus to customer focus, customer retention and knowledge are keys to success. Integrated technology solutions offer the ability to help optimize the relationship with the customer. This allows the development of predictable demand and profitability models, while enhancing cross selling opportunities and customer loyalty. Future success depends on translating customer data across systems into usable knowledge and actionable strategies to promote growth of "wallet share". |
| Solution: |
Foundation's strength in development of web-based solutions creates the single click environment necessary to allow access to the customer data in a timely fashion.
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| Challenge |
Integration of Applications, Products, Distribution and Service Channels |
| Definition: |
Problems in combining and synchronizing a turnkey application solution for multiple vendors and existing legacy and backoffice systems (claims services, call centers, lead/business generation partners, valuechain shareholders, agents and brokers), improving the customer experience and time to market of products. |
| Solution: |
Foundation's experience integrating "total" customer relationship and integrated application environments allows information to become the hard-currency metric for relationship, response and ROI measurement.
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| Challenge |
Alliances, Acquisitions and Strategic Collaborations |
| Definition: |
The convergence trend in the marketplace is driven by 3 primary business strategies; growth based on revenue enhancement, acquisition of new customers and customer retention. As companies become "full service" financial shops, either through acquisitions or subsidiaries, there is a significant challenge to integrate operating infrastructures as well as the process infrastructure of an acquired company (policy administration, claims management and distribution). Insurance companies that can take advantage and bundle services quickly are poised to market solutions faster than their competition. |
| Solution: |
Foundations' vertical and online expertise delivers complete application infrastructure and "production ready" environments. This includes, but is not limited to, integrated messaging, file maintenance and transfer, transaction processing, CRM and ERP initiatives, payment management and security.
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| Challenge |
Differentiation of Product Offerings and Improving the Customer Experience |
| Definition: |
The goal is to optimize competitive advantage through enterprise synergy and a portfolio approach to customer service. Multiple standalone applications and systems adversely affect the customer experience. Development of a unified customer e-business strategy and suite of applications is the first step to presenting a web enabled customer experience. The challenge is to offer not only core products such as property, casualty and life but other forms of insurance such as annuities through a single source solution. |
| Solution: |
Foundation's certifications and experience with key partnerships allows us to provide off the shelf, as well as customizable solutions that address specific insurance industry business requirements.
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