Work with an end-to-end system to reduce your total cost of ownership
Legacy systems come in all shapes and sizes. Most have real weaknesses that hold carriers back, frustrate users and with an ever-increasing cost of ownership.
Often, the system will feature old best-of-breed point solutions held together with poor interfaces. The program code will have evolved into a special spaghetti sauce, and even the simplest changes will be time consuming, risky and expensive. The interfaces may be overnight, or even less frequent, and different systems will likely give different results to the same question or query. Systems will be closed, unable to talk to the outside world or have no knowledge of the internet. A data warehouse may have been implemented to provide ‘a’ version of the truth, especially for governance and audit, but multiple truths will impair decision making and reduce operational control. Fear, uncertainty and doubt are big barriers to operational improvement.
A modern end-to-end system like synergy2 can remove all these limitations, and deliver a near-immediate return on investment. One of our more recent clients even managed to recover the cost of change in less than two years.
Covering every aspect of a specialty lines carrier or assumed reinsurer’s business, the comprehensive synergy2 system and framework provides numerous benefits over a legacy system.
The first benefit is any user can see all of the data, documents and transactions associated with an entity like a policy or a claim, subject to synergy2’s rigorous governance and security framework. With synergy2 orchestrating a single version of the truth and offering 24/7 system availability, users can be confident that management information, dashboards, triangles and reports will always be consistent with each other.
synergy2 has a modern three-tier architecture. This means that the screen forms are completely separate from the program code and enables our latest screen set to support an innovative Paint Your Own Screens (PYOS) facility. synergy2 already offers comprehensive configuration options and fourteen different class-of-business screen flows. PYOS takes this to a new level and allows users to move fields on a screen and to have different screens for any reason, for example for different States or languages.
The connection between the synergy2 screens and its governance and process layer is exclusively achieved through over two hundred (200) web services. Clients use these web services to build their own screens and to interface directly with external services like location rating and geocoding. The web services present synergy2 as a platform on which customized systems can be developed.
Finally, synergy2 is a release-based system. Eurobase issues two releases every year, and our clients choose when to implement an upgrade and enjoy the benefits of our investments. Our great client retention rate is a great indicator of the benefits of the synergy2 end-to-end system.
If you would like to find out more about the benefits of synergy2, email Stuart Pembery. And follow us on Twitter.