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Industries : Insurance

 
Overview | Solutions

Overview

Insurance providers today are faced with the ever-increasing pressure to offer innovative products and services, drive down costs, improve their services to their many constituents and leverage the benefits available from ongoing IT advances. They must focus on how to efficiently accelerate their time-to-market and provide innovations to their products and services, while meeting increasing regulatory requirements at the same time. This poses significant challenges to all carriers, whose systems are typically outdated and fragmented after years of growth and acquisition. This complex IT environment also creates significant challenges to information management, software currency and effective software quality assurance (SQA).

Virtusa has deep experience helping leading insurance companies Conceive, Transform and Optimize their software platforms to meet their business imperatives. We leverage our Strategic Enterprise IT Roadmap (STEIR), Productization, and SQA methodologies to enable insurance clients to conceive the right IT platform, transform their existing systems into high value assets and optimize their applications through ongoing application outsourcing using our global delivery model.

 
Our Insurance Service offerings include:
Application Suite Platforming. We partner with clients to conceive effective strategies and actionable roadmaps to transform
  application suites into reusable, flexible, and extensible software platforms that are real business assets and then optimize those assets to provide a strong return on investment.
SQA. We leverage our deep SQA experience to bring innovative process improvements to client project teams and operational
  support areas, and we help our clients transform and optimize their software quality processes. We focus on helping our clients dramatically reduce the cost of projects by delivering the right SQA rigor at the right time.
Application Suite Modernization. We offer a full set of services tailored to the large body of legacy applications that
 
insurance companies typically employ. First, we help our clients assess their current portfolio of applications and conceive the right strategy and architecture to update them. Next, we help transform those applications by executing projects to upgrade and/or if needed, port them to the operating systems that best meets the needs of the enterprise, using as needed Open Source software and internet technology. Finally, we optimize those applications over time through application maintenance and outsourcing using our global delivery model and a focus on Productization
   
Additionally Virtusa provides solutions to many Fortune 1000 enterprises that are applicable to the insurance industry. These include:
Agency / Customer Self Service: We help our clients increase customer / agency retention by improving the agency / customer
  experience, enabling multiple self-service channels and at the same time driving down costs.
Account Opening (Member Enrollment): We increase the efficiency of our clients’ account opening systems and processes,
  reducing enrollment time and cost, and enabling straight through processing.
   
 
Solutions
A few examples of tailored insurance service offerings are:
     
  Healthcare Industry SQA
  Annuity Industry Platforming, SQA and Modernization
  Pegasystem Rules SQA Automation
  Settlements and Payout Transformation
  Trading and Reporting Systems Reengineering and SQA
  Account & Portfolio Management Systems
  Asset & Wealth Management 401(k) & Benefits Management Systems
  CRM, Analytics, Decision Support
     
   
 
   
 
 
 
 
Case Studies:
A Leading Insurance Provider Shortens Time-to-Market through Rules-based Testing
Virtusa Enhances and Automates Software Quality for a Leading Insurance Company
Data Sheets:
Virtusa's Insurance Practice
 
 
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"Virtusa" is a trademark of the company and is a registered trademark in the US, European Union (EU) and in India.
"Productization" is a service mark of the company and a registered service mark in the United States.