Industrialisation in the Insurance Business

There are two key factors for industrialisation:

 Cost reduction by:

• Implementing process-specific structures into companies
• Focusing on own core processes and core competencies while at the same time sourcing processes or parts of processes to highly specialised partners
• Outsourcing of non-core processes to specialised partners
• Optimising internal processes for strategic alignment

 Increased competitiveness through:

• Market orientation / innovation
• Increase of the process and product flexibility
• Customer retention and single point of service
• Time-to-market

CSC Insurance Factory – the Solution for Industrialisation
CSC Insurance Factory facilitates the approach to industrialisation by implementing business-driven structures. CSC Insurance Factory is divided into three components which can all be found in industrial businesses:

Design Office
Actuarial department, business organisation: definition of the insurance organisation, insurance-specific processes, design of insurance products.

 Manufacturing
Back-office: Functional departments, IT, administration of contracts and claims/benefits, etc. as well as administration, accounting, and controlling.

Point of Sales/Service
Advisory service, quotations, applications, new business, contract amendment, and claims management



The following success factors of the CSC Insurance Factory affect all above mentioned components of this structure:

 Worldwide Insurance Knowledge (Content, Products):
We support you in the technical definition of your business.  Core element in this process is product definition and documentation of the insurance processes, including all associated rules, parameters, formulas, and hierarchies.  Predefined templates, such as insurance products, make this process easier.

IT Components (Products, Architecture, Performance, Future Strategy).
These IT components are specially tailored to the above mentioned individual components. For more details, click the link below:
 Design Office  Manufacturing  Point of Sales/Service

Methodology Competence (Project Management, Procedural Models, Best Practices):
To ensure short implementation times, minimised project risks and cost-optimised implementations, we use established methods and improve these by best practices:

• Business Process Management (BPM)
  We are market leader in BPM in the insurance industry.  BPM means mapping, design and improvement of business processes in several steps affecting several systems and persons over an extended period of time.
• Procedural Model
  CSC Catalyst and C-RUP are PMBoK (PMI)-based procedural models established in the market.  Both methodologies were complemented by best practices and comprise all software development areas.
• Product Modelling Methodology
  To ensure that an application system can generically connect and address different product models the interfaces and the behaviour of the models will have to be standardised, e.g., by naming conventions.

The basic ideas of the CSC Insurance Factory are summarised in our product philosophy:

 

• Standardisation consequently to the source code provision for the Manufacturing.
• Individuality with a maximum of realisation efficiency in Point of Sales/Service.
• Near to business Design Office through optimal user support and proven, predefined solution concepts.

Contact Us
If you have any questions or if you require further information, please contact us.

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More Information:

• Insurance-specific Software Products
• Our global Insurance practice.