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Development of a Modern Claims Management System for MD Insurance

future-processing.com

Insurance

Challenges with Legacy Claims System

MD Insurance's existing claims management system lacks adequate case traceability, case management capabilities, and reporting functionality. This results in inefficient processing, hindering customer service quality and limiting the company's ability to adapt to market demands. Data migration from the legacy system is complex due to differing database structures.

About the Client

MD Insurance Services Limited is a leading UK and European provider of latent defects insurance for the construction industry. They are part of The MD Group, which provides insurance schemes to support the construction sector.

Project Goals

Reduce claims processing time from start to finish.
Improve the accuracy of claims decisions.
Enhance overall customer service experience.
Enable data-driven decision-making through improved reporting.
Provide a scalable and flexible claims management system.

System Functionality

Automated claims processing workflows.
Centralized case management and tracking.
Comprehensive reporting and analytics.
Secure data storage and access control.
User-friendly interface for claims handlers and customers.
Migration Engine for seamless data transfer from legacy system.

Technology Preferences

Microservices architecture

Migration Engine tool (custom developed)

Database solutions capable of handling large datasets and complex relationships

External System Integrations

Potential integration with existing accounting systems
Potential integration with customer relationship management (CRM) systems

Non-Functional Requirements

High performance and scalability to handle increasing claim volumes.
Robust security measures to protect sensitive data.
High availability and reliability to ensure continuous operation.
Data integrity and accuracy during migration and ongoing operations.

Expected Business Impact

The implementation of the new claims management system is expected to significantly improve MD Insurance's operational efficiency, enhance customer satisfaction, and enable data-driven strategic decision-making. Reduced processing times, improved accuracy, and enhanced reporting will contribute to increased profitability and a stronger market position.