We serve leading firms across the insurance landscape in Property & Casualty, Life and Health Insurance.
U3 provides the winning edge to our Insurance clients by leveraging our domain expertise. Our clients benefit from the collective expertise of a large pool of certified and experienced professionals including domain specialists, solution architects, business analysts, technology professionals, regulatory specialists and package implementation specialists.
Property & Casualty Insurance
1) Sales and Distribution
U3’s agency relationship management services include agency portal development enabling ease of doing business, agency carrier system integration for improved business productivity, agency management solutions, and agency performance measurement and tracking
2) Claims Management
We follow an ‘incremental transformation’ approach. It takes cognizance of existing claims investments, and helps design solutions that augment, rather than disrupt, the existing claims platform:
- Straight Through Processing (STP): Enabling fast tracking of claims.
- Content management: Facilitating paperless claims.
- Collaboration through B2B integration: Integrating the insured, employees, and business partners.
- Performance measurement: Enabling timely and accurate decision making.
U3’s reinsurance service includes risk management process like SAP-FSRI package implementation services, reinsurance treaty management using business rules engine, data standardization using ACORD standards to facilitate reinsurance data exchange and business analytics reports for treaty and facultative contracts.
4) New Business and Policy Administration
Our expertise in the area of policy issuance, policy servicing, and underwriting allows us to offer a full spectrum of services including package implementation and policy administration, consolidation & modernization resulting from externalizing business rules, ‘wrap-and-extend’ and SOA (Service-Oriented Architecture) enablement, and a unified working environment that improves underwriting rigor, productivity & process control.
Life & Annuities Insurance
The life insurance industry today continues to face challenges such as a continuously changing business environment. Slow economic recovery is making the transformation an uphill task. Operational inefficiency is perhaps the biggest burden that everyone wants to get rid of! With our help, clients have increased speed-to-market, improved distribution effectiveness, improved wealth management/financial planning services, improved underwriting profitability, and enhanced customer experience and engagement.
1) Business Process Optimization
U3 helps build and deliver complex business processes for the Insurance industry. We Implement variety of state-of-the art BPM (Business Process Management) tools has eased the process integration of multiple channels and has made processes more collaborative than ever.
2) Core System Implementation and Support
U3 implements and maintains core administration systems for leading insurance companies and helps to derive sustained value while achieving year-on-year operational efficiencies.
Implementing bespoke core systems using newer development methodologies such as Agile, Support legacy and newer core admin systems to derive sustained benefits, Implement third party applications with ready access to production implementation process blueprint and implement pre-configured reports.
U3 has served a number of leading life insurance and annuities companies and insurance software providers across the APAC Region.
We provide domain-centric services such as business solution and consulting, business analysis, and application development and maintenance. Our services support core health insurance processes including policy admin, claims processing, medical re-pricing, and regulatory services.
Our solutions include fraud pattern analysis, predictive analysis, business-decision-support systems, EHRs, claims, prescription histories and other sources ally with lifestyle sources including risk assessments, social sources, and device inputs.
Core Health Insurance Processes
- Policy Administration Systems
- New Business and Product Management
- Claims Management System
- Finance and Administration
- Provider Network Management
Regulatory and Compliance Services
- Medicare and Medicaid Plans
- Accountable Care Organizations
- HIPAA 4010 and 5010 Compliance
- ICD-9 to ICD-10 Compliance
- Patient Protection and Affordable Care Act