Insurance

NOVITY ’s insurance experience coupled with our consulting capabilities has enabled insurance companies to tap into real-time customer and business insights. Most insurance companies and carriers turn to NOVITY for insurance management software that provides an efficient ecosystem of new thinking and new perspectives. Basing upon our expertise in providing refined products with a higher degree of specialization, we enable our customers to rationalize their administrative time and processing costs, enhance their customer retention via – multi-pronged application portfolios including Integration, Mobility, Legacy Modernization, BI and Data Analytics, Cloud Computing and Fraud Detection.

Tap into our industry-leading expertise in innovation initiatives that transform your policy & claims administration systems and better manage your operational costs. Providing next generation insurance carrier and resolving business problems is what we do and do it the right way. NOVITY proactively architects real-time customer and business insights that helps our customers to manage risk and compliance issues, new and faster time-to-market solutions and products.

Find out how some of the best-known and best-run insurance companies are relying on NOVITY ’s Insurance Claims Processing know-how and benefiting from its demonstrated experience spanning through Healthcare EMR/HER, and Pharmacy Solutions, Healthcare ERP System and more.

ransform your policy and claims administration systems and become more customer-centric using NOVITY ’s highly-praised, game-changing insurance solutions in:

How We Can Help

  • Use our artificial-intelligence powered SPEND ANALYSIS solution to create up-to-date, granular visibility into all categories of spending worldwide and to manage spending in context of global commodity market-price movements. 
  • Use STRATEGIC SOURCING to dramatically accelerate complex sourcing and supply network design initiatives. The solution facilitates extensive cross-functional, cross-regional collaboration across all sourcing stages (from requirements definition through reward) and can handle entire spectrum from simple categories to sourcing initiatives comprising tens of thousands of line items. 
  • Use CONTRACT MANAGEMENT to rapidly build, negotiate and execute creative contracts, containing all necessary terms related to safety regulation, policy compliance and risk avoidance. Effectively manage dynamic pricing and location terms across complete contract lifecycles. 
  • Use SUPPLIER MANAGEMENT to expand and accelerate supplier discovery and on boarding and to manage critical supplier audit, certification and safety credentials. Model custom KPIs and KPI-weighting systems to optimize ongoing supply-risk assessment & mitigation and supplier performance management & development activities consistently and systematically across multiple geographies. 
  • Use FINANCIAL SAVINGS MANAGEMENT to align procurement with both bottom- and top-line business performance objectives and to document and demonstrate how sourcing, procurement and supply management is helping the enterprise to win the great innovation race currently underway in global energy markets. 
  • Use PROCURE-TO-PAY to streamline and speed up requisition and purchase order workflows, free internal talent to focus on supporting key innovation initiatives and to monitor and drive compliance to preferred supplier contracts, terms and conditions