The growth in new ways of conducting business, shrinking margins, the need for focusing on core-competencies, and near shore options has dramatically changed the dynamics of the insurance industry.
Multi-faceted Web technology has and will intensely alter the way insurance delivery mechanisms work in today's environment. While cost repression has captured the focus of the industry, less emphasis has been placed on the distribution system. The current insurance distribution mechanism is inefficient and can cause operational problems like redundant data entry or multiple data entry points, multiple paper handling steps by multiple parties, and reiterative faxes, mailings, and call backs. This could result in inaccurate case installation, high administrative costs, lost business, poor customer service to brokers ,and, ultimately, customers.
MRCC Business Domain
MRCC delivers several key benefits for its insurance clients. By combining multi-channel claims intake and business process automation with case management, document management, and CRM components, MRCC reduces the time and money spent on processing claims. This gives insurance carriers the ability to reduce claims leakage and detect claims fraud, while at the same time optimizing their sales and services processes.
MRCC provides seamless integration with all functional points ranging from field activities to business process connectors for back-end processing, caters to IS development, and helps insurance companies and service providers leverage existing investments in legacy systems.
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