On June 4th ClaimVantage hosted its first webinar in the South African market. The topic for discussion revolved around legacy systems and how cloud technology can improve claims processing and productivity for insurers.
There are many advantages and disadvantages to both cloud technology and legacy systems, which were outlined during the presentation. After investing many resources in developing in house systems, insurers can be reluctant to move to cloud technology. On the flip side, legacy systems can hinder claims processing. Manual processes, paper files and outdated technology can increase the inefficiency of claims processing.
ClaimVantage has built it’s software on the Force.com platform to encompass the range of advantages that cloud technology offers, including:
- Flexibility and Scalability
- Quicker time to deployment
- Reduced costs
- Continually improved functionality
To showcase the advantages of processing funeral claims in the cloud, Bev Nye, Business Strategist for ClaimVantage, gave a brief demonstration of how to process and make a payment on a claim using the ClaimVantage system.
Of course there are disadvantages to cloud technology, including data residency issues, security in the cloud, encryption and performance issues. Leo Corcoran, CEO of ClaimVantage discusses theses issues in the recording below. If you have any questions or would like to know more please contact us.