Much of the work we do is confidential and commercially
The following initiatives are deemed copyright.
We are working on an exciting open market product which has the
potential to change the business model for claims
interaction in the UK market:
It will affect the way that:
insurers deal with each other, for claims
recoveries and workflow, reducing handling costs
claims costs can be easily allocated back to the
component of cover, leading to better future risk rating and
hence improve risk selection pricing
UK standards supported by Polaris Productwriter
can be delivered at low cost, without multiple translation and
testing, thereby reducing operating costs
a browser based data collection and database system
can be introduced and integrated into back office systems at low cost,
using an existing proven product from an Inoventation partner
This development is really powerful in the hands of
the consumer, as it puts the control over the purchase and renewal
process clearly in their hands.
The product enables the customer to "own" a copy of
their insurance record in a format which they can understand and input
to via a "wizard".
It will require minimum rekeying of data already held
by the consumer.
At inception, and at future changes (including
renewals and other important pricing dates) the consumer will be able
to set up "wizards" to automatically interrogate the market using
industry standard XML, and based on their prior input provide them
with advice and enable changes of carrier.
The key here is to find a "trusted party" who the
client is prepared to deal with. Are you that party?
This principle will have significant impact on the
pricing models of insurers, and the added value of intermediaries.
Inoventation Ltd is a member of the the Microsoft
Independent Software Vendor (ISV) scheme, which provides us
access to both existing and beta development software.
We build solutions using