A unique, cloud based platform for the insurance sector to accelerate product speed to market
NEW YORK, Aug. 18, 2016 /PRNewswire/ -- Mphasis, a leading IT services provider and solutions provider, announced the launch of ComPASS, a suite of comprehensive end-to-end transformational services solutions. The ComPASS Suite includes a solution for Group Benefits carriers comprised of services wrapped around an agile platform that can be deployed on-cloud or on premise. True to its motto to "Unleash the Next," Mphasis recognizes that carriers are constantly looking to help employers optimize benefits and retirement plans while being pressured to reduce costs. Carriers are expected to do this while providing clients with flexibility and hugely competitive group products that meet the diverse needs of their employees and ensure they retain top talent.
Carriers face disparate enrollment and billing systems, sub-standard user experiences that result in low customer satisfaction, high costs of benefit changes & license fees for new platforms, and annual enrollment programming that limit the ability to innovate, and high license fee costs for new platforms. In addition, carriers are pressured to retain experienced CSRs with leveling of costs that must be balanced against seasonal needs, manage poor integration across channels and difficult ongoing account management processes.
ComPASS for Group Benefits provides greater agility in completing annual benefit updates, while significantly reducing operating expenses by 30 to 40 percent. Wrapped around a highly configurable PAS platform and Mphasis' cost-efficient business process services are digital enablement technologies and interactive portals that enhance user experiences and drive tighter carrier-customer relationship. This allows carriers to deliver superior account management models with Mphasis addressing the challenges of seasonal staffing and programming.
"ComPASS is designed to disrupt existing operating models in the Group Benefits market by empowering digital account management while offering a high ROI, minimal adoption cost, enhanced speed-to-market, and the best use of technologies such as Analytics and Robotic Process Automation. We are excited to introduce this solution which will further enhance our leadership role in the insurance sector. We at Mphasis constantly aim to innovate and co-create with customers and the ComPASS Suite is a breakthrough solution for the insurance industry with unmatched advantages," said Dinesh Venugopal, President – Mphasis Digital and Strategic Customers.
Mphasis (an HP Enterprise Company) enables chosen customers to meet the demands of an evolving market place. Recently named by American Banker and BAI as one of the top companies in FinTech and as the "Most Distinguished Digital Company in 2015" by The Economic Times, Mphasis fuels this by combining superior human capital with cutting edge solutions in hyper-specialized areas. Contact Mphasis on www.mphasis.com.