Mphasis Announces New Policy Administration Service for Commercial Insurance Industry
Cloud based platform 'ComPASS' accelerates product speed to market
NEW YORK, Aug. 18, 2016 /PRNewswire/ -- Mphasis, a leading IT services and solutions provider, announced its rollout of the ComPASS Suite of solutions, including a comprehensive end-to-end Policy Administration Services Solution (PAS) and hybrid platform for the small/medium commercial property & casualty (P&C) insurance industry. ComPASS enhances agility by utilizing a cloud based solution, leveraging Mphasis' deep insurance domain capabilities, expertise in digital transformation, and top-of-the-line business process services.
ComPASS for commercial P&C capitalizes on a highly configurable platform that significantly accelerates speed-to-market for carriers and favorably impacts the bottom line. The solution enables innovative and accelerated new product design and deployment (typically four to six months) in a market with competitors hungry for differentiation. In addition, the power of the solution provides the ability to rapidly tweak and adjust product features based on their market performance.
Mobile sales and self service capabilities provide new levels of engagement and empowerment to small and medium commercial clients. By capitalizing on Mphasis' best practice services across the solution, IT and operational expenses are reduced 30 to 40 percent when compared to a full suite license-based PAS service integration and internal services.
"We are thrilled to offer our new policy administration platform and services solution to the commercial insurance market. ComPASS customers will gain a competitive advantage, improved productivity and the ability to adapt to the ever-changing small and medium commercial insurance market environment," said Dinesh Venugopal, President – Mphasis Digital and Strategic Customers.
This customer-centric solution platform enhances and improves user experience by providing interactive and user friendly self-service portals. Operating on Mphasis' proficiency in digital, ComPASS is seamlessly integrated into consistent standardized web-portals.
About Mphasis
Mphasis (an HP Enterprise Company) enables chosen customers to meet the demands of an evolving market place. Recently named by American Banker and BAI as one of the top companies in FinTech and as the "Most Distinguished Digital Company in 2015" by The Economic Times, Mphasis fuels this by combining superior human capital with cutting edge solutions in hyper-specialized areas. Contact Mphasis on www.mphasis.com.
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