Policy administration, claims and billing transformation

LMC provides insurance companies with a customized approach to core insurance systems transformations. We specialize in the following key areas:

• Transformation strategy and roadmap: LMC helps property and casualty carriers develop transformation strategies and roadmaps based on leading practices to meet specific business and technical requirements for billing, claims, policy administration and underwriting. We utilize a proven estimation methodology that helps effectively determine necessary outlay for these projects and can help build an industry validated and company specific target operating model that allows clients to better respond to customers, regulators and competitive threats.
• Policy administration system selection: LMC helps clients to define their organizations’ business drivers, unique processes, and high-level requirements to develop the evaluation criteria that enable system selection. With these evaluation criteria, LMC helps clients search the marketplace for viable system solutions and evaluate responses from an independent, unbiased perspective.
• Business and technology implementation: LMC helps clients implement new systems by leveraging our accelerators and knowledge base from numerous global projects of all sizes, including:
  • Process narratives, flows and architectural designs, including specific and detailed business processes and rules
  • Pre-built integration adapters
  • Data conversion mapping for common internal and external system and partners
  • Testing and training documentation
  • Leveraging offshore resources for cost-effective implementation
• Strategy through execution: LMC helps clients from initial strategy work through implementation. This increases the effectiveness of each major stage of a transformation. We help carriers define a case for change and evaluate implementation scenarios upfront, before actually undergoing change. With a clearly defined future state vision, we help clients set up a proof of concept to help them select a best fit solution. We work alongside our clients to define and establish a structure and set of tools that prepares them for a successful implementation. In short, we understand how to run complex programs involving technological change and deliver definable benefits to clients’ business.
• Organization readiness and change management: LMC can help you avoid the risks of a failed implementation resulting from lack of stakeholder buy-in, inability to articulate the benefits of the change, and/or inadequate upfront planning. Preparing an organization to effectively and successfully use the latest technology requires changing fundamental behaviors via user training, deployment planning, communications organization and process change. LMC helps clients assess the requirements for and impact of these activities so they can make the most effective use of product suites.
• Hosting and application management: Including infrastructure hosting (as needed), ongoing management and maintenance of apps, enhancements and upgrades, and leveraging offshore resources for cost-effective implementation.
• Execution of large-scale transformational programs: LMC specializes in project execution and helps companies successfully transform the business and improve business processes. We know why, where, how, and in what sequence critical elements such as strategy, structure, people, process and technology need to be addressed – and even more importantly, integrated. Our offshore capabilities help clients accelerate execution and lower the total cost of ownership.