With the increasing competitive landscape, many carriers face pressure to be able to bring new products to the market faster than ever before. Mphasis Wyde understands these demands and responds with Wynsure as a Service (WaaS). This hosted solution combines the power and flexibility of the Wynsure policy administration system with application hosting and management. Wynsure provides Front2Back or Point Solution administration support for multiple lines of business. The ease of configuration is taken a step further with pre-configured products that allow our clients to reduce the implementation cycle and meet the time to market demands. With WaaS application hosting and management you will receive consulting, configuration services and 24×7 operations support. Our global team of experienced professionals possess deep knowledge of both the insurance industry and Wynsure product, helping clients solve unique business challenges and focus their attention toward new product development and market opportunities.
Wyde provided our Client with a managed end-to-end solution with its secured infrastructure, operation, support and maintenance, ensuring service continuity and quality of use of the product. The project implementation time line was set for 9 months start to production and was completed within 6 months. This success story was enabled by effective project planning to use native capabilities of Wynsure and adapt to the Client's processes. This approach ensured minimal customizations that become costly to implement and maintain. This WaaS Client was very satisfied as both phases went live before the due date. Mphasis Wyde helped in the digitalization of more than 60% of the Client's processes, moving away from largely manual processes and legacy systems. This ensured:
• Cost Efficiency: Client's operating costs reduced to 50% of what was spent on the previous system
• Time to treat claims reduced by 50%; productivity increased by 50%
• Automated document workflow that helped the client go paperless saving mailing expenses
• Almost 80% of the claims were treated automatically with no human intervention
Wynsure as a Service was deployed on a usage based commercial model. This model allowed for a more economically beneficial solution with billing based on number of claims. No huge upfront costs. The cost included complete support and regulation updates, so the client is 100% compliant all the time.
