Insurance Transformation Processes

Accelerate transformation of your insurance business with proven processes.

Industries/ Insurance/ Insurance Transformation /Insurance Transformation Processes

Complex legacy systems, entrenched processes and the sheer volume of data can pose formidable obstacles to insurers’ growth. Digitally transforming the technologies and processes that drive your business can reverse this trajectory, and put you on a new path to growth – one powered by improved strategic planning, data-driven decisions and a modernized back-office.

NTT DATA works with insurance providers across life, annuities, pensions, property and casualty insurance and general or worksite/voluntary benefits to:

  • Reduce product development time, cost and effort
  • Automate and extend your operations team
  • Modernize and migrate legacy platforms
  • Drive greater productivity and better outcomes from your outsourced team
  • Implement global quality standards

“Automation and self-service can be hugely beneficial, but only if they are implemented at the right time and in the right context for your customers’ needs.”

— NTT DATA Perspective: The AI Revolution in Insurance: A Reality Check

Our solutions:

Automated Full-Time Equivalent

 Streamline work processes, reduce errors and boost scalability with NTT DATA’s Automated Full-Time Equivalent (AFTE).

The nature of outsourcing is changing. With increasing costs and complexity, companies must use employees more effectively by shifting them away from repetitive, labor-intensive tasks. Automation of processes help you complete these tasks quickly and consistently, which allows your employees to focus on business-critical activities.

Our innovative AFTE solution achieves automation with advanced methods and tools. These include:

  • Automation Solutions
  • AFTE Command Center
  • Systems Monitoring and Automation Services
  • Universal Test Automation Framework
DISCOVER MORE
Back-Office Transformation Processes

NTT DATA helps you modernize and maximize your back-office systems and processes so you can focus on your core business.  As your third-party administrator (TPA), we’ll serve as an extension of your operations team, handling back-office processes and performing day-to-day tasks such as new business processing, policy administration, claims processing and more.

NTT DATA’s Back-office Transformation Processes help you: 

  • Launch new products more quickly, efficiently and at a lower cost
  • Move from a fixed-administration cost model to a variable-cost model for closed blocks
  • Consolidate multiple administration systems into one proven platform for all products
  • Take advantage of a global delivery model and economies of scale
  • Quickly ramp up administration staff to handle increased volumes
  • Transform claims processing for greater efficiency
Business Process Management and Automation

NTT DATA’s fully integrated business process management suite includes workflow, reporting, collaboration and insurance knowledge management tools to drive greater productivity and better outcomes from your outsourced team.

NTT DATA’s Business Process Management Suite (BPMS) includes:

  • Workflow tool for effective work allocation and distribution
  • Client portal that improves reporting, collaboration and transparency between teams
  • Management tool to manage and control policies, procedures and business rule changes
  • Dashboards for instant access to process health indicators and continuous improvement
  • Productivity Improvement Toolkit that applies established best practices in automation to improve productivity

Further eliminate process redundancies and reduce human effort by 25 – 30 percent with NTT DATA’s Automated Full-Time Equivalent (AFTE). The AFTE repeats specific steps with a high degree of accuracy, performs certain activities automatically and utilizes a complex set of sequential process activities, logically broken down by business rules.

Insurance Testing Framework Services

 Frequent changes in regulatory compliance and the competition to rapidly bring new products to market have made rigorous testing strategies essential.  A methodical, efficient testing approach helps catch errors early in the development phase, significantly reducing your production costs. NTT DATA’s knowledge-based framework provides end-to-end testing of all business functionalities for all your product lines. 

NTT DATA’s Testing Framework features:

  • Reusable automation frameworks, tool utilities and solution accelerators
  • Dedicated Centers of Excellence for automation and non-functional testing
  • More than 2,500 global testing associates
  • Domain expertise across financial services and insurance
Migration and Platform Implementation Services

 NTT DATA can help you transcend the limitations of closed, proprietary systems such as legacy applications and legacy workloads running on mainframes, iSeries and proprietary UNIX platforms.  We’ll lead the way to a more agile, lower-cost industry-standard platform that can include virtualization and cloud computing solutions.  We’ll preserve your existing applications and business logic investments.  And we’ll make it as seamless a transition as possible. 

Our Migration and Platform Implementation Services include:

  • Iterative Process — extraction of policy data from the current platform and loading into the new platform; conversion balancing with a roll-forward of policies and a comparison of the values; conversion reconciliation, etc.
  • Integrated Model Office — run test modifications, extract and convert policies together
  • Conversion Dry Run — to ensure the actual conversion is seamless
  • Pilot Testing — simulation of production processing by administrative teams to ensure they are trained and ready
Process Quality Improvements

 Process improvement programs and international standards can deliver extraordinary business results to insurance organizations. Rely on NTT DATA’s consulting and training services to streamline, re-engineer and transform your process performance. We can help you increase productivity and achieve compliance with a variety of international standards and models, including ISO 9001, SEI CMMI, ITIL, ISO 27001 and Six Sigma. 

We anchor our process transformation and automation solutions in a strong foundation of workflow automation and knowledge management. These include our:

  • Business Process Management Suite (BPMS), a self-learning, seamlessly integrated suite of business process management applications.
  • Automated Full-Time Equivalent (AFTE), which automate workflow processes to reduce cost and speed the administration of many common business functions.
EXPLORE OUR INDUSTRIES