Software AG, a global leader in business infrastructure software, and Satyam Computer Services Limited (NYSE:SAY), a leading global consulting and IT services company, today announced the immediate availability of a new process framework for insurers. Property & casualty insurers can utilize this process framework developed by Satyam in conjunction with the webMethods suite from Software AG to create turnkey, customized solutions for auto insurance claims processing. These solutions can be used by insurers to streamline workflow and improve utilization, automate core tasks and claims resolution, and to monitor and enforce business and regulatory compliance.
Satyam maintains one of the world’s largest Software AG Centers of Excellence with over three hundred trained consultants and is a recognized innovator in the use of Software AG technology. Under the two companies’ global partnership, Satyam is working to develop a series of process frameworks for Software AG’s webMethods suite, including the Auto Insurance Claims Processing framework being released today. Each process framework builds upon the flexibility offered by Software AG’s service-oriented architecture (SOA) and business process management (BPM) technology to best address industry or company-specific requirements.
“Our clients have benefited greatly from our deep partnership with Software AG. By combining their top-ranked technology with our leadership in consulting and IT services, we’ve been able to craft innovative and cost-effective solutions for driving their businesses forward,” said Joseph Lagioia, Global Head, Consulting and Enterprise Solutions at Satyam. “Recently, we extended this partnership to fully capitalize on the potential of SOA and BPM. Our process frameworks allow us to encapsulate the proven best practices that we’ve gained from thousands of engagements spanning a number of industries into a more flexible, adaptable and cost-effective delivery model. As a result, industry-leading performance is now more readily accessible to our global customer base.”
Satyam’s Auto Insurance Claims Processing Framework Helps Insurers Differentiate Themselves Faster
Claims processing is viewed as the ‘moment of truth’ in which insurers need to demonstrate the value of their services to customers or risk losing them forever. Furthermore, research firm Gartner finds in a recent report that “[c]onsumers increasingly require personal lines property and casualty insurers to think and act small, treating them as if they’re individuals and not just part of the mass market. Consumers want a claims process that’s much faster, more intuitive and more convenient”.1 Finally, increasing competitive and regulatory pressures are driving insurers to update their service offerings on a more frequent basis.
This new process framework encompasses all of the artifacts needed to transform the Software AG webMethods suite into a complete, end-to-end solution for auto insurance claims processing. It includes service interfaces, process models, business rules and Key Performance Indicators (KPIs) definitions. By combining established industry best practices with the flexibility of a comprehensive SOA/BPM product suite, the Auto Insurance Claims Processing framework can be used to deliver more personalized customer service and to streamline fulfillment across multiple channels. Specific benefits include single customer view for faster, better-informed decision-making; greater operational efficiency, accuracy and speed due to the automation of key process steps and tasks; and enforced compliance with established business rules with full auditability for all transactions. From an IT perspective, use of previously tested and configured components accelerates development, improves performance and reliability, and minimizes subsequent change management and maintenance requirements.
“With nearly forty years of continuous service, the insurance market is one of the largest and most important sectors for Software AG. Our partnership with Satyam builds upon this foundation to provide our customers with improved competitiveness and faster payback,” said Arnold Huffman, senior vice president, Strategic Business Solutions & Business Development, Software AG. “By automating and managing the end-to-end process, our technology addresses the speed and accuracy requirements of claims processing as they are critical drivers of both customer loyalty and corporate profitability for insurers. Building upon the flexibility of our process frameworks and our underlying service-oriented architecture, insurers can also differentiate themselves on the basis of the pace and efficiency that they can deploy new customer offerings.”
Satyam, Software AG Strengthen Long-term Partnership
The release follows the November 2007 introduction of a new Order Management and Service Fulfillment process framework for telecommunications providers. When used in conjunction with the webMethods suite, telecoms can leverage this process framework to streamline the provisioning of new accounts with automated fulfillment improving time-to-market while reducing operational costs. Providers have taken advantage of this process framework to reduce the time required to create new service offerings and to manage their very dynamic and often complex product bundles for maximum payback within highly competitive markets. Additional process frameworks for manufacturers are expected to debut later this year.
Satyam was recognized as a 2007 receipt of the Software AG Customer Innovation Award. The company was honored for its New Bangkok International Aiport implementation, where Software AG technology was used to automate airport operations and facilitate the seamless flow of information throughout the facility.
1 Retaining Customers Through Better Claims Management for P & C Insurers [by Stephen Forte (September 20, 2007), Gartner, Inc.]
About Software AG
Software AG’s 4,000 global customers achieve measurable business results by modernizing and automating their IT systems and rapidly building new systems to meet growing business demands. The company’s industry-leading product portfolio includes best-in-class solutions for managing data, enabling service oriented architecture, and improving business processes. By combining proven technology with industry expertise and best practices, our customers improve and differentiate their businesses — faster. Software AG has more than 38 years of global IT experience and approx. 3,600 employees serving customers in 70 countries. The company is headquartered in Germany and listed on the Frankfurt Stock Exchange (TecDAX, ISIN DE 0003304002 / SOW). Software AG posted total revenues of ??????¬621 million in 2007 (IFRS, unaudited).
Satyam (NYSE:SAY), a leading global business and information technology services company, delivers consulting, systems integration, and outsourcing solutions to clients in 20* industries and 61* countries.
Satyam leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company’s 49,199* professionals excel in engineering and product development, supply chain management, client relationship management, business process quality, business intelligence, enterprise integration, and infrastructure management, among other key capabilities.
Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve 630* clients, including more than one third of the Fortune 500. For more information, see www.satyam.com.
*As of Dec. 31, 2007