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Topics
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The Problem
The Solution
Who Uses the System
Tech Basics and Support
Customization
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MFX Products
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RiskVault
A streamlined web-based environment that speeds claims handling while significantly reducing costs.
ClaimsAssure
A highly intuitive processing system able to assemble, display and help adjudicate claims quickly.
ProcessSure
BPO services where insurers can streamline their back office processes, reduce costs, manage compliance issues more efficiently and free themselves to focus on revenue generation.
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MFX Services
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GlobalAssist
Outsourcing services that deliver IT expertise plus industry know-how and a better return on your dollars.
ManagedSolutions
Choose a technology partner with a true understanding of your business processes and needs.
ServiceAssist
Services to assist in designing, developing and implementing infrastructure solutions to meet a company's needs regardless of size, type or market.
CorporateShield
Today’s IT managers need flexible security roadmaps that adjust rapidly to ongoing and emerging threats. Our multi-disciplinary teams help clients effectively identify, assess, implement and manage security and privacy solutions.
SecureSource
MFX Outsourcing Services are designed to allow clients to be free from the time consuming and costly task of managing their infrastructure.
VitalImages
State-of-the-art strategies and solutions to assist in streamlining all of your document management processes.
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FAQs
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Questions that Ops managers, IT managers, Agents and Brokers often ask...with answers. Click here...
For information on MFX products or services, please contact us through this web site or call: (866) 639-6399
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The Problem
Insurance products require long approval times as well as lengthy forms and applications. Processing is paper, time and staff-intensive. Forms may be kicked back for additional information. This leads to a long and frustrating process with paperwork passing back and forth among agents, brokers and insurers. Even after this lengthy process, the policy may never be put in force.
The Solution
The MFX Insurance Processing System is an easily used, Web-based underwriting system that allows agents, brokers, insurers, consumers and other users to qualify, rate, quote, bind and deliver policy documents virtually in minutes. This ability to process on-line in real time allows insurers to reduce policy issuance from weeks to minutes. And it makes selling even small premium and low limit products worthwhile for agents.
Easy-to-use windows guide users through the application process, the first stage of this underwriting system. The sequence of questions assures that all data is validated prior to submission to ensure complete and accurate applications. Rating and qualification information is presented up front and ineligible risks are screened out before reaching the insurer. Approval is immediate. Payments are collected on-line.
Who Uses the System
The system gives insurers the flexibility that's needed to keep products up to date. It allows you to post new rates in real time. It allows you to plug in new products easily. And it lets you open new distribution channels immediately to take advantage of new trends. The system is an adaptable agent or broker processing system.
At the same time, agents gain a competitive edge when they sell your products. Since the system requires little or no training to use, it allows licensed employees, as well as agents, brokers and direct consumers, to process applications. Since it can also be accessed 24-hours a day, seven days a week, it allows them to process applications anytime it's convenient. And, because it's a proven turnkey product, there's no costly implementation or development time. In short, it allows you to expand your business opportunities quickly without the cost involved in developing your own solution.
Tech Basics and Support
The MFX Insurance Processing System is accessed through any desktop computer with an Internet Web browser. No additional software is required.
This application service provider (ASP) based model allows you to maintain complete control, in real time, of your product rates and business rules and to underwrite cases by exception. The system also gives your distribution force real time access to all account and historical information including quotes and policies in their own agency or broker underwriting system. This reduces the need to maintain paper-based customer files and improves customer service. A robust suite of reporting options means all activity is captured in detail and made available to you as needed.
Full technical support ensures secure transmissions with no downtime.
Each MFX product has its own specific security system to secure information and transactions against unauthorized access. A 24/7 help desk and knowledgeable Account Executive further support your users.
In the unlikely event that the MFX processing facility is impaired, our disaster recovery plan targets having all client sites available within 48-hours. Daily backup and recovery is provided, along with a weekly full-system backup with all tapes sent offsite to MFX's storage facility.
Customization
The MFX Insurance Processing Sytem deploys an 80:20 strategy - 80% of the solution is generic and the remaining 20% is customized to specific needs, including integration with legacy systems. This allows you to take advantage of eBusiness technologies quickly without the cost of doing your own development.
We also offer specialized customization services that allow you to "white label" the system to your company's requirements.
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