Pressure is increasing on insurers to transform their processes and operations in order to meet demands from shareholders to improve profitability, while meeting parallel demands from regulators and customers to reduce risk and improve transparency. Insurers are rationalizing their product portfolios and reviewing their distribution strategy and are looking to IT to assist in the area.
Greenridge is working closely with insurers to address the priorities these industry-wide changes have on their operations:
- Achieve back office operational excellence in order to improve service and productivity
- Reduce operational risk requirements and
- Re-engineer manufacturing processes and systems to support increased integration and sustain new partnerships
- Rationalize and decommission legacy systems to improve profitability and support M&A strategies
Greenridge leverages and extends in-house technologies such as Java/J2EE, portals, and the SOA architecture to achieve these goals, providing project teams well versed in these technologies and the business processes of the insurance industry.