Polaris Launches Intellect Claims

Polaris Financial Technology Ltd., a global Financial Technology Company, has announced the launch of Intellect Claims, a comprehensive cloud enabled claim processing system which caters to several lines of business, including Life and Disability Health.

Built on the Customer Business eXchange (CBX) technology, the new platform will take all of the elements that make claims processing so complex and bring them all together in a Simple, Quick and Accurate environment. Intellect Claims’ solution architecture leverages a combination of intuitive interconnected smart technologies (HUBs, Workstations and Component based architecture), that positively impacts cost, delivery schedules and unprecedented focus on productivity.

Polaris’ proprietary HUB technology allows easier integration with key systems such as Policy Administration, Document Management, Finance & Accounting systems. HUBs also help in harnessing business intelligence at one place and mitigate risk, and provide better regulatory control and intelligence

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Role-based workstations in the form of CBXs enable common front ends and drive efficiency with emphasis on customer-facing operations through role based work canvases, as against conventional hierarchical menus

Intellect Claims’ loosely-coupled Component Architecture offers unparalleled flexibility to create solutions that can be customised to client specific needs. They can be re-used across channels and product lines and can be changed at the speed of client’s business

One of the unique elements of Intellect Claims solution is the Product Configurator which allows the client to easily set up a product and rollout new products immediately. The friendly and intuitive user interface used in the Product Configurator makes it simple to define a product and have the information rendered dynamically on the page when submitting a new claim. It can be used to define the entire product specification including rules for new business, underwriting and policy servicing or just enough product details to support claims processing.

Pranav Pasricha, Global Head, Insurance, Polaris Financial Technology Ltd., said, “Our product suite delivers unprecedented complexity reduction due to its flexibility in configuring claims processes and setting up role based work stations. It allows carriers to proactively manage cases and improve payment outcomes. Intellect Claims’ architectural approach provides the IT organisation with an industry standard compliant (ACORD), highly modular and configurable asset, built on sound and industry standard technologies. This gives us the ability to effectively outcompete the other offerings in the market today in terms of business value, implementation cost, timeline as well as long term TCO.”