Does ClaimsAssure capture policy information?
Yes. ClaimsAssure contains a powerful policy management component that even allows paperless storage and indexing of policies.
Was ClaimsAssure built for only large carriers?
No. ClaimsAssure is completely scaleable and can be easily deployed whether you are a mono line/mono state carrier or a carrier operating throughout North America offering all lines of coverage.
Can my external vendors collaborate in ClaimsAssure?
Yes. Utilizing the latest fax server technology, ClaimsAssure allows your external vendors to easily fax their documents directly into a ClaimsAssure file, thus reducing duplicate efforts and the need to scan.
How are State forms handled in ClaimsAssure?
State forms are stored as images in ClaimsAssure. The form is selected within the claim, all claim information is pre-populated and the user enters the remaining data. The State form may be printed, e-mailed or faxed and all completed forms are saved for later retrieval.
Can ClaimsAssure manage multiple state reporting requirements?
Yes. ClaimsAssure is capable of storing and indexing state-specific forms for easy access and consistency.
What differentiates MFX from its competition in application system support?
MFX is a company of Property and Casualty insurance experts with decades of experience in maintaining systems in the industry. Our culture and size allow us to accomplish assignments in a fraction of the time of our competitors. Recently, MFX transitioned two mid-sized companies to our Canadian facility in a period of ninety days. Our technical skills are broad; from Cobol, CICS and VSAM of the past, to Web technologies of today.
Which technologies are developed/deployed by MFX?
MFX is a leading adopter of Web development and service-/component-based architectures following industry—and insurance-specific design patterns. Core platforms include Enterprise Java Beans and Microsoft.
MFX architecture and solutions leverage best-of-breed architecture and technologies for Web development, business process integration, business services and Web services (both new and encapsulating high value legacy functionality). MFX is a leading practitioner in the deployment of XML integration and messaging technologies and in the use of ETL tools (extract, transform and load) to integrate solutions with existing corporate systems and to drive data warehousing and business intelligence strategies.
What type of development methodology does MFX use?
MFX uses a flexible software development methodology that can be customized easily to support all development projects regardless of their size and complexity. The MFX methodology is comprised of best practices and repeatable processes that are designed to help guide the project team through the insurance software development process. Additionally, MFX’s methodology helps project managers with budgeting, planning and project monitoring.
The MFX development methodology is structured to provide the project team members with the following information:
Step-by-step list of activities to complete
Clear understanding and method for monitoring internal and external dependencies
Clearly defined inputs and outputs for each phase and major activity
Templates for each defined output
Method for gathering project metrics
How does MFX deal with the challenges of system integration?
Because MFX’s strategic insurance solutions are based on a philosophy of buying, extending and building software components, there is a need for multiple, detailed date interfaces. The integration of software and data across heterogeneous platforms is, therefore, an important part of our service offering. Our deep knowledge of insurance and our understanding of the complexities of the insurance business transaction through the entire business process enable us to develop policy, claims, reinsurance and financial interfaces at the transaction level. This includes enforcing standards for consistent data model definition and usage, resolving coding differences and synchronizing common reference data changes among systems.
This area of expertise is fully leveraged when converting data from legacy systems to MFX’s insurance solutions. The scrubbing of historical data from legacy systems is an additional aspect of conversions in which MFX maintains business and technical expertise.
Can I aggregate my data and create detailed loss runs in RiskVault?
Yes. RiskVault utilizes a powerful reporting tool that allows you, or anyone given access to reports, to fully customize loss runs and reports. In addition to customizing the reports, you can program RiskVault to deliver the reports via email to your desktop with predefined schedules.
How difficult is it for me to involve my suppliers and partners in RiskVault?
The process is simple and takes seconds. You simply invite the individual or company by generating an email within RiskVault which, in turn, provides the supplier with a link to RiskVault registration. Once the supplier completes the simple registration process, they are set to collaborate with you in RiskVault.
Can RiskVault be used to handle all types of claims?
Yes. RiskVault was designed to handle claims of the simplest nature all the way to highly complex claims. In fact, the more complex the claim, the easier it is to handle within RiskVault by collaborating on a real-time basis with all of your expert service providers.
Are my insurance products ready for the the MFX Insurance Processing System?
In most cases, yes. If not, MFX will work closely with you to design or re-design insurance products to address issues such as: pricing, profitability and mortality assumptions; distribution strategies; internal and external workflow processes; and the overall ROI of the solution.
Does the system support both direct to consumer and broker distribution?
Yes. The platform is built to accommodate both business-to-business and business-to-consumer distribution models. The platform includes a comprehensive set of administrative tools to allow for broker and agent based policy sales, and can also support the direct to consumer sales process. The platform allows for customization of product offering based on distribution channel.
How fast can I be selling products online?
A typical Insurance Processing System engagement begins with a thorough evaluation of your current product and processes. In general, based on this evaluation, your insurance products can be available over the web in as little as six weeks.
What reporting options are available?
Standard reporting includes activity by distribution channel on a daily basis. These reports cover web activity as well as transactional data. Reports can be accessed online, or emailed directly to specific distribution groups. Customized reports are also available.
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