The iNEK team brings vast market knowledge in implementing one-stop shopping tools that enable manufacturers and distributors to support a wide range of distribution models, in both connected and disconnected mode. This competency in addition to iNEK's expertise in modern data integration methodologies helps companies achieve Straight-Through-Processing of new business significantly reducing cost and cycle time.
Electronic New Business Applications
Commoditization of insurance products and compensation is forcing carriers to differentiate their value through ease of doing business.
"While it is imperative to have solid underwriting and offer relevant products at competitive prices, companies know it is absolutely critical to implement business processes that make it easier for their distribution partners to do business with them, rather than their competitors."
Revenue growth and reduced unit cost can be gained through the use of a fully integrated electronic new business application tool; leading to:
- Faster producer application completion
- An efficient and easy means of submitting new business
- Increase in "good order" applications
- Elimination of redundant data entry
- Reduced cycle-time
"As many companies have discovered, putting up a Web page is easy, but tying new software into mainframes coded in outdated programming languages is hard".
Electronic application solutions range from fillable forms to completely integrated "straight-through-processing".
Data Exchange and Integration Middleware
As businesses have grown complex, the need for integrating heterogeneous enterprise applications to achieve a unified business process is a priority. In the insurance arena, these business processes may be restricted to an enterprise or span across multiple companies. This demands the development of a middleware framework that shares existing business processes and data across applications internal and external to the enterprise.
Insurance organizations today are looking to harness the power of Internet to reach new markets, lower transaction costs, open distribution channels, reduce issuance cycle time, offer additional conveniences and make it easier to do business with. Integrating their internal systems is paramount to facilitate further integration with suppliers and partners, among others. iNEK offers a unique middleware integration framework that can be easily customized to work with the enterprise integration strategy. It follows a process-model based approach where the strategic business functions are exposed as re-usable services. The framework is best suited in Enterprise Application Integration paradigms where multiple integration approaches such as message-oriented, database-oriented and file-based data transfer mechanisms are required.
The framework addresses key architecture requirements such as flexibility, scalability, availability, robustness and security in its architecture. Industry standard transformation engines such as ACORD XMLife and NAILBA, enables proprietary applications to provide data in industry standard formats thus interacting directly with external partners as an extended enterprise.
Companies who distribute products and services in a multi-channel environment are faced with the challenge of providing access to information according to the customer's needs.
iNEK's well constructed hierarchy management solution provides:
- Integrated view of "business related" hierarchies in a single infrastructure
- Allow authorization maintenance across multiple applications versus an individual application level
- Ease integration with enterprise standard security engines - Single Sign-on infrastructures
- Optimize data segmentation and analysis across several dynamic organizational hierarchies
- Rapid assimilation of new and/or changes in relationships (i.e. merger/acquisition, migration between producer groups)
Architecture and Technology Consulting
iNEK's vision behind the architecture and technology consulting practice is to provide leading-edge technology solutions and consulting to our customers. Assisting enterprises develop re-usable architecture patterns that can be utilized across the enterprise is one of the key strengths of iNEK. iNEK strongly believes that any software can be built by integrating component-based building blocks regardless of the functionality required. As this is an evolving process, every software development project involves drafting a strategic construction architecture blueprint as part of the detailed design phase to ensure that the design patterns as well as their interfaces are designed for reusability.
iNEK offers a specialized team of architects with vast experience in designing and building insurance applications that can provide strategic technology recommendations that can withstand rapidly changing business processes. It does this by using a unique methodology and by making technology choices based on industry trends. Some of our important architectural services are: the review of enterprise architecture, component-based definition of functional responsibilities and developing re-usable integration mechanisms.
With growing demands for data integration, application implementations should be made available as Business Services that conform to the principles of Service-Oriented Architecture (SOA). Good Web Services tools and platforms inherently mandate SOA approaches.
IT Maintenance and Outsourcing
iNEK enforces a disciplined approach to software development which is critical to create successful business and technology solutions on time, in scope, and within budget. iNEK's team of PMI certified project managers help you best align business objectives with your projects and recommend optimized software development methodologies to maximize the effect of your investment and at the same time ensure a faster ROI.
iNEK's Software Quality Assurance (SQA) team gets involved in the development life cycle as early as the project proposal stages. The SQA team has developed focused and comprehensive quality control checklists, which ensures that every solution delivered by iNEK measures up to the highest possible international standards.
In addition to assisting you choose the right technology, iNEK's strength lies in helping you achieve true business success by maximizing the effectiveness of the technologies selected.