Fedsure Life has commissioned Business Edge Systems to deliver a system that will provide its intermediaries with a web-based process for new business. The system is geared for all Fedsure`s individual life insurance products.
Stuart Campbell, Fedsure Life`s Executive IT Manager, points out that the intermediaries can use the same version of the system in standalone mode on their laptops or via the Internet.
"Using the system for quotes and policy applications will not only reduce the turnaround time," says Campbell, "but its validation features will minimise clerical errors and streamline the new business process.
"In addition, brokers will be relieved of much of their administrative burden, freeing them to increase their marketing activities. Of particular importance to the broker is that accelerated processing of applications will facilitate prompt payment of commissions."
Fedsure anticipates considerable cost savings due to the reduction of manual processes.
Business Edge Systems` Hennie Pretorius believes that the implementation of e-commerce is really about enhanced customer service. "Fedsure`s clients will only have to provide information once and will receive accurate quotes and prompt processing of their applications," states Pretorius.
"Realising that Fedsure operates in a dynamic environment where systems have to be responsive to business demands, we developed the system within a flexible framework. This allows the introduction of new products, changes to formats of application forms and modifications to validation rules without any program changes. Although the current focus is on life insurance products, the same flexible framework can be applied in other business areas."
The first phase of development - electronic policy applications - is live in a pilot site where the integration with Fedsure`s workflow and life administration systems is undergoing rigorous testing. Once Fedsure is satisfied that all the systems and business implications have been addressed, the system will be rolled-out to the intermediaries. In the meantime, the next phase of development has already started - Business Edge Systems is constructing a web-based quotation system to replace the current standalone version.
"We have been delighted with Business Edge`s approach to this project," says Stuart Campbell. "Not only did they have the technical know-how but their process to ensure that they fully understood the business requirements was an eye-opener. Professional project management and close involvement of senior management from Business Edge ensured that all our requirements were completely satisfied."
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