2. Reduce insurance claim costs Traditionally, trustee offices considered insurance claims management service as a cost to be managed and something to be insourced or outsourced. Other issues critical to the Information Technology infrastructure for an insurance claims management solution include service uptime of at least 99.9 per cent, business continuity, disaster recovery and business-class security – all within a cost-effective model. The Cloud is designed to provide this through the scale and assurance of a large outsourced solution with control over the destiny of an inhouse service. Cloud computing facilitates IT in the trustee office to be viewed as an asset to be leveraged, rather than as a potential cost that needs to be managed. Trustees can focus on enabling enhancements to customer service levels as well as improvements to control and decision making through the insurance claims lifecycle. *Graham Sammells is CEO of The IQ Business Group and in early 2010 launched a Microsoft Solutions Practice designed to support financial services firms, including superannuation organisations, realise the benefits of their existing Microsoft technologies.
Just as open banking is expected to be a game changer for Australian lenders, KPMG said the new “open super” platform could revolutionise the country’s pension industry.
Sarah JonesOctober 16, 2019