Insurance

Consoltica enables insurance companies and agencies to streamline and optimize information flow across business units and processes, reduce cost and risk, increase sales efficiency and customer service, and achieve regulatory compliance.Changing customer expectations, innovations in technology and changes in regulation have all contributed to revolutionize the insurance industry.

Information technology is one of the key pillars that support any modern day enterprise. To ensure they live up to this, we give IT strategies a core role in our consulting services. Your corporate strategy is closely interwoven with your company's IT strategy. For IT today is no longer pure background processing. A future-oriented IT strategy can send out impulses, which are decisive in shaping the strategy of your whole company. This applies particularly to change and growth areas, and in IT reorganizations which result from mergers.

Invoice System

Insurance companies have to deal with an enormous volume of invoices, including many driven by claims settlements. To make this challenge even more complex, these invoices originate with a vast number of widely distributed suppliers, service and repair organizations, appraisers, and so on.

End-to-end automation of invoice processing – including e-invoicing, workflow and seamless ERP integration – can significantly reduce the extensive effort of managing invoices, whether they are involved in the settlement of a claim or for goods or services purchased by the company.

  • Invoices can be automatically captured, no matter where they enter your organization, and no matter in which format (paper, fax, email, e-invoice and so on).
  • Invoices can be classified at the point of entry through intelligent recognition of invoice header and line item information.
  • In case of missing or incorrect data, an automated alert function triggers exception handling and correction.
  • Only correct and complete invoices are sent to the relevant applications and processes to ensure efficient processing.
  • E-invoice processing and supplier integration can remove paper from the transaction altogether, enabling finance organizations to process electronic invoices and seamlessly work with their suppliers – providing the benefits of EDI at a fraction of its cost and complexity.
  • The system provides real-time integration with ERP systems like SAP and Oracle, and gives finance and business managers performance management capabilities.
  • Cash management benefits significantly from visibility into the AP process, real-time status information – including invoices in process, cash requirement, invoices awaiting approval, cash consumption, and productivity data – and the ability to trigger corrective measures.

Risk Management system

This system allows various Insurance and risk management related management at different users levels. The system allows insurance criteria inputs, calculates and displays accurate information that helps assess the risk.