Because over 65% of our business comes from insurance, we have the real-world understanding and expertise to handle any challenges or pressures facing insurers, distributors, and group plan providers now and in the near future. From product development to IT modernization, we know your business and we understand your pain points.
Process Redesign & Optimization
Product designs, core admin systems, and the ever-present regulatory requirements can impose a large number of restrictions on your business processes, causing sub-optimal processes to become the normal operating environment. The line of sight necessary to make the right process improvements twists and turns around policyholders, distributors, sales channels, and internal strategies.
Data Management & Governance
NEOS has the expertise and experience to evaluate your data (whether it is quality, management, policies, or business process management) and risk management surrounding the handling of data. We meet you where you are and help to recommend short and long-term solutions to improve your business and secure your company’s most important asset, data.
Project Value Assurance
The NEOS Project Value Assurance solution links key project dimensions back to the intended business value for the investment in the first place. This linkage gives you the information and controls you need to make informed decisions about any impacts to the business or project. We gather and analyze information about the project, identify the root causes of derailment, and recommend a set of integrated solutions to put your project back on track to success. These resources can help you determine if your project is on the right track.
Technology & System Modernization
Your technology and IT architecture are only as strong as the strategy surrounding it. Business-savvy, long-term goals and policies for your systems and portfolios are a must. This type of strategy will lengthen your technology portfolio’s useful life, and preserve valuable resource time from multiple, unnecessary upgrades.
Change Management & Communication
Without proper communication, any data or process redesign project will not succeed. Studies show that up to 70% of initiatives fail to achieve their stated financial goals, and much of the failure can be attributed to how the change is managed or led. Create a change management plan for your project and increase your competitive advantage. A change management & communication plan will accelerate the timeline to acceptance and performance by engaging employees, communicating transparently, and leading visibly and consistently.
The insurance industry is filled with examples of cost overruns and time delays when rolling out new products. Delivering new processes, data, and systems to agents efficiently can be tricky. You are probably aware that modernization will be necessary for your organization in the next few years, but that means more to consider than just selecting a system and technology. You will need to factor in how modernization will impact all of your current and future products and the impact on your distribution channels.