Business Process Solutions from Fiserv
Many insurers are pondering a revealing question: which came first – business processes or the technology that enables them? What we find in virtually all companies across all industries is that many processes are designed to fit the systems they have, not vice versa.
Doesn't it make more sense to stop asking what do I need to integrate or what do I need to build, and begin answering what do I want to achieve? This is the promise of true business process management: removing the technical barriers to achieving continual success. Watch our 2 minute movie to learn more.
Delivering on the Promise of Business Process Management
FastTrack BPM from Fiserv employs a blending of technology with the concepts of business process management (BPM) that empowers you to put process back in control:
- Define the most ideal processes without the technical considerations
- Automate those processes where relevant
- Identify the most efficient process flows
- Manage, evaluate and adapt processes where and when necessary
- Accomplish all of this within your existing technical infrastructure
FastTrack BPM is enabled by best in class business process management technology, and the experience and expertise gained from more than 40 years of deploying effective solutions to the insurance industry.
Realizing the Promise of BPM
It’s a simple fact. Most companies map their processes to the functionality of their systems. FastTrack BPM, however, starts with the process rather than the system or infrastructure and enables the understanding and continuous improvement of those processes. You gain a significant competitive advantage in several areas:
Increased Productivity: Reduce low/no value manual efforts by automating specific processes where appropriate
Error Reduction: Fewer instances of manual handling reduce the opportunities for incorrect data entry
Customer Centric: Implement, deploy, measure and optimize processes that are in tune with your business and your customer’s needs
Financial: All of these benefits contribute to fewer expenses in errors and lost productivity, and greater earnings through a revitalized focus on customer service.
Quick ROI: BPM is unique in that results are impressive and quick to achieve. In fact, recent analyst research indicates that most BPM solutions are deployed within four months with a greater than 90% success rate.
Extend the Life and Value of Your Existing Systems
A business process management strategy allows you to leverage the valuable aspects of your existing technical infrastructure. In essence, you don’t need to abandon your existing technology for the sake of improving your business. In fact, FastTrack BPM helps facilitate interoperability among your systems allowing you to retain and extend the value of your technology investments.
Targeted Solutions for Rapid ROI
With the FastTrack BPM you drive greater efficiency and performance from specific manual and/or low-value processes. With this precision in focus, you achieve rapid results, unprecedented payback and the confidence to adapt the solution to other processes throughout your organization: one process at a time.
Consider the Possibilities
Fiserv is already working with customers to target and streamline specific processes, including:
- Customer Service: Aggregated data from multiple and disparate systems presented in a consistent dashboard view.
- Customer Self-service: Enabling customers to make policy changes via the web.
- Billing and Premium: Streamlining and automating the manual process of reconciling remitted premiums that do not match the invoice as billed.
- Agency and MGA Communications: Combining a sales pipeline dashboard, performance monitoring and task assignment to facilitate proactive communication between your executive, marketing and sales teams.
We invite you to discover how effectively and efficiently you can transform your business processes with FastTrack BPM from Fiserv. To learn more, please contact us.
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