Modern digital administration platforms stand to vastly improve the productivity and capabilities of insurers, their staff, their digital infrastructure, and the organization as a whole. According to McKinsey, “standard [software] systems are typically much more streamlined and include ready-made functionality for pricing, underwriting, customer self-service and automation, and claims processing. As a result, they can improve efficiency across the enterprise.”
In fact, insurers that develop and execute a digital strategy stand to gain substantial value over their competitors. Though, if this is the case, why are small insurers across the industry still running their business on legacy software, allocating limited resources to maintaining outdated systems, and making incremental changes that fail to plan for the long-term?
At a glance, the time and costs associated with choosing and implementing new technology can appear vast. But a holistic view of deploying a new, modern core policy administration platform creates a domino effect of benefits that can ricochet throughout a business. While it’s a significant undertaking, selecting the right system for an organization and its technology strategy is paramount.
Origami Helps to Streamline (and Simplify) Implementation
Implementation—the most daunting aspect of making a core platform change. When things don’t go well, the results can be multi-year-long project plans, constant push-back, or an implementation with no end in sight. In fact, according to McKinsey, “70% of change programs fail to achieve their goals, largely due to employee resistance and lack of management support”.
Origami understands the organizational investment that goes into an implementation and the importance of gaining team buy-in, which is why we champion getting your business to market faster, all of which are driven by a few key factors:
- A single-platform solution not only reduces IT complexity and implementation time, but also centralizes data. This creates a single “source of truth” organization-wide, focuses on configuration versus customization, and shortens overall project plan timelines.
- Our seasoned, dedicated service team possesses expertise in both insurance and technology, which not only means you’re delivered the best solution out of the gate, but have a specialized partner that understands your organizations’ unique needs.
- Third Party System Integration and Data Import tools means your team is met with a flexible integration and endless possibilities to draw data from external sources from onset. Origami leverages APIs to integrate with existing and often disparate technology systems, and if an off-the-shelf integration isn’t available, our team will work to find a way to develop a sought-after capability for your organization.
How Origami Can Make Your IT Department’s Life a Little Easier
IT departments face daily challenges, from thwarting cyber security threats to ongoing server maintenance, oftentimes leading to an overextended team left with little time to focus on strategy and enterprise-centric projects. As a cloud-based SaaS, the Origami platform frees your IT team from those daily headaches—allowing them to focus more of their time on preparing your company for future business challenges—through a number of ways:
- Single platform application for policy, billing, and claims administration reduces the need for multiple apps and allows your team to focus on technology advancements that can move the needle versus having to keep up with multiple stacks.
- Cloud computing, hosted on Amazon Web Services (AWS) and held to world-class security compliance standards—including SSAE 18 and FISMA certification—means ease of encryption, top-of-the-line security, regular testing, and no server maintenance, all backed by a provider you can trust.
- A single version of code is maintained at all times, meaning all 500+ Origami customers are always running with the newest capabilities, no client falls behind, and there is no sun-setting of version support.
- A highly-configurable, scalable solution that enables administrative tooling accessible to the business user—all without the use of custom code (or your developers’ time). A powerful rules engine and workflow management allow task automation and more, giving your organization the functionality it needs to drive efficiency.
- Seamless reporting, data, modeling, and analytics capabilities are coupled with user-facing web applications that allow for streamlined data collection, consolidation and submissions. This saves your team valuable time that would otherwise be spent bridging communication, reports, and more between systems long after integration. Origami allows organizations to centralize data, reporting, monitoring, and more from various third-party systems all in one place allowing increased visibility and transparency to internal and external users. And our predictive modeling integrations enable your data to be smarter and go further.
From ease of implementation to a checklist of IT “musts,” the Origami platform works to fit your needs and has a seasoned team of industry professionals ready to thrust your team towards efficiency. Request a demo today to learn more about how Origami can bring simplicity to the complexities of implementing and maintaining core insurance technology.