Operational efficiencies and regulatory compliance are placing ever greater strain on legacy systems. PhixFlow has implemented price management & analysis, fraud monitoring leveraging legacy functionality.
Challenges in Financial Services and Insurance market
Many financial and insurance companies have grown through merger and acquisition. They face the huge challenge of integrating many legacy systems. Generating an accurate, real time picture of all the services provided to a customer or, just as importantly, where additional services could be offered. With regulatory compliance demanding accuracy and monitoring for fraudulent behaviour the pressures on companies is growing. Factor in the need to be able to accurately model the impact of pricing changes and newer, modular insurance offerings and the complexities of system enhancements are great.
What can PhixFlow provide?
PhixFlow provides a platform that will enable you to link multiple systems and create custom applications to replace spreadsheets and desktop databases using our drag and drop technology. Enable your customer care team with a full picture by linking your CRM, billing, brokers and online systems. Through accurate data modelling and price re-rating calculate the impact of any pricing or packaging changes to the product lines offered. By building an accurate composite picture of a customer’s behaviour to compare to industry standards and generating automatic warnings on patterns of activity that could indicate actions that need further investigation you can reduce and report on fraudulent activity.
Calculate the impact policy configuration changes and policy charge changes will have, reduce costs, reduce processing and increase margins.
Link your legacy, remote and office systems. Integrate your company acquisitions and brokers to provide a seamless system.
Link your CRM, policy, billing, brokers and online systems through a single interface to provide an integrated customer view.
Respond rapidly to new threats, analyse data for patterns of behaviour. Identify policies, customers and payment methods for risk and threat.
Enable your remote offices, mobile staff and brokers with accurate, real time pricing and policies. Extend your central systems to your field team.