Webinar | Speakers
Your paper-based Life Underwriting Processing may be doing your competition a big favor! Consider these facts:
- Paper intensity at Life Insurance firms accounts for 70%-80% productivity loss
- Unit costs of Life Underwriting Processing are 40%-50% higher with manual, paper-intensive processes
- Compliance costs can be as high as 10%-20% for paper-based processes
Not surprisingly, Agents (and Customers) tend to prefer insurers that have minimized paper-dependent processes, making them 'easy to do business with'. Infosys' Transport and Services Business Unit provides business solutions to the industry's leading firms, enabling them to become more competitive and customer-centric. In the 3PL arena, Infosys is partnering with major providers to attain optimum productivity by applying mastered processes such as RFID, reengineering and system integrations.
Smart companies have realized they can minimize paper-dependent processes and achieve competitive advantage with streamlined, automated Life Underwriting processes. Infosys has successfully enabled industry leader Northwestern Mutual (NM) to re-engineer its Life Underwriting processes and leverage technology to realize significant strategic and tactical gains.
Date: June 23, 2005
Time:11:30 AM to 12:30 PM EDT
Speakers: Terese Capizzi, Biji Thomas
Director, New Business, Northwestern Mutual
Terese is the director of New Business for Northwestern Mutual. She is responsible for directing the overall operation of new business services for the financial representatives and clients operating in the Western and Central states. She also has responsibility for all Sprint underwriting and all application input processing.
Terese will talk about the challenges of streamlining New Business processing and the best practices employed at Northwestern Mutual.
Principal and Insurance Solutions Manager, Infosys Technologies Ltd.
Biji is a Principal in the Infosys Insurance Solutions group. His expertise is in increasing the competitiveness of Life Insurance Operations by the strategic use of technology. He heads the group that developed the Infosys NBPE solution.
Biji will present Infosys' New Business Processing Excellence solution, which helps Insurance companies realize significant reduction in New Business operating costs by leveraging document management and workflow management technologies.
Infosys and The Northwestern Mutual Life Insurance Company are committed to adhering strictly to the letter and spirit of the antitrust laws.
The seminar to which you have been invited and the information shared in connection with it are solely intended to provide a forum for the expression of various points of view on the topics described in the invitation. Under no circumstances shall this seminar be used as a means for competing companies to reach any understanding, express or implied, which tends to restrict competition or in any way impair the ability of companies to exercise independent business judgment regarding matters affecting competition. In particular, there shall be no discussion of competitors' pricing data, including costs or any exchange of cost information for the purpose or probable effect of influencing prices, terms, or conditions of sales of products; reducing competition; or promoting agreements among competitors regarding products or services for purchase, the selection of suppliers, or the prices of supplied products and services.