SO DEDICATED TO INSURANCE, WE MADE IT PART OF OUR NAME.
The “In” of Inforce stands for insurance. (Since it’s what started our business, we figured we’d start our name with it, too.) Founded explicitly to serve the insurance industry more than 15 years ago, we’ve continued to deepen our expertise in Insurance IT Consulting Services every day since. And while we do work across the insurance spectrum, the lion’s share of our experience is in P&C and Life. To see the kinds of work we routinely do in these two areas, click on the sectors below.
Continuous Expansion of P&C IT Consulting Expertise
INFORCE has been helping clients in the Property & Casualty Insurance Industry since day one. If you’re looking for expertise not listed here, please ask. Chances are, we’ve done it.
Core System Modernization
- Policy Administration Systems (PAS): Upgrading or replacing legacy systems with modern, flexible platforms that streamline policy creation, management, and renewals.
- Claims Management: Implementing advanced claims systems that enable faster, more accurate claims processing, enhanced fraud detection, and improved customer communication.
- Billing Systems: Modernizing billing platforms to improve payment flexibility, accuracy, and integration with new technologies like digital wallets.
Data Integration and Analytics
- Data Warehousing and Analytics: Developing integrated data platforms to enhance decision-making through predictive analytics, underwriting efficiency, risk assessment, and customer segmentation.
- Regulatory Compliance Reporting: Creating systems to ensure that insurers meet state and federal regulatory requirements, including rate filings and solvency monitoring.
Digital Transformation
- Customer Experience (CX) Enhancement: Implementing self-service portals, mobile apps, and chatbots to allow customers to manage policies, file claims, and make payments online.
- Agent/Broker Platforms: Developing digital tools that help brokers and agents efficiently sell, manage, and quote P&C insurance products with a smooth interface and easy-to-use functionality.
- Insurtech Integration: Integrating with third-party insurtech solutions to incorporate automation, AI, and machine learning for streamlined underwriting, claims processing, or fraud detection.
Automation and Process Optimization
- Robotic Process Automation (RPA): Automating repetitive tasks such as document processing, claims intake, and policy issuance, which improves operational efficiency and reduces errors.
- Underwriting Automation: Enhancing underwriting workflows by integrating third-party data sources, automating risk assessment, and improving pricing accuracy.
Cybersecurity and Risk Management
- Cybersecurity: Implementing robust cybersecurity measures to protect sensitive customer data and ensure compliance with privacy regulations such as GDPR and CCPA.
- Disaster Recovery and Business Continuity: Creating disaster recovery and business continuity plans to ensure minimal disruption to operations in the event of a data breach or other catastrophe.
Cloud Migration and Infrastructure Modernization
- Cloud Services Integration: Migrating legacy systems to cloud-based platforms for greater scalability, flexibility, and cost-effectiveness.
- Infrastructure Modernization: Upgrading IT infrastructure to support higher transaction volumes and the deployment of modern tools like AI, blockchain, and IoT.
Agile and Scalable IT Delivery
- DevOps and Agile Methodologies: Implementing modern software development methodologies to accelerate the rollout of new products and services, ensuring faster time-to-market.
- Scalability Solutions: Ensuring systems are built to scale efficiently as the business grows or regulatory requirements change, which is critical for insurers in rapidly expanding markets or regions.
Compliance and Risk Management
- Regulatory Compliance: Ensuring the P&C insurer’s systems and processes comply with evolving state and federal regulations, including specific P&C requirements like solvency and capital standards.
- Solvency II and IFRS 17 Readiness: Preparing for international regulatory standards that impact financial reporting and risk management in insurance.
Making Life Better for CIOs Everywhere
Our clients in the Life sector have come to appreciate not just our ability to dive into everything below, but how our high level of competence and performance improves their own work life on a daily basis.
Core System Modernization
- Policy Administration Systems (PAS): Upgrading or replacing legacy systems to improve policy issuance, management, and renewal processes for life insurance products.
- Claims and Benefit Management: Implementing systems that streamline death benefit processing, claim adjudication, and payout management, while ensuring regulatory compliance.
- Billing Systems: Modernizing billing and premium collection platforms to handle complex payment schedules, including annual, semi-annual, and flexible premium plans.
Data Integration and Analytics
- Actuarial and Underwriting Analytics: Developing data platforms to enable advanced actuarial analysis and underwriting, incorporating external data sources such as health records and lifestyle data.
- Customer Analytics: Implementing systems that leverage data to predict customer behavior, refine pricing models, and personalize life insurance offerings, driving higher retention and sales.
- Regulatory Compliance Reporting: Automating reporting systems to comply with regulations such as those issued by state insurance departments and federal agencies, focusing on solvency, consumer protection, and financial disclosures.
Digital Transformation
- Customer Self-Service Portals: Implementing online platforms where policyholders can manage their life insurance policies, view benefit details, and update personal information without agent involvement.
- Agent/Broker Tools: Building or enhancing tools that help agents and brokers quote, bind, and manage life insurance policies efficiently, including e-signature and digital policy delivery capabilities.
- Omnichannel Engagement: Creating seamless digital experiences across web, mobile, and social media channels for both customers and agents, improving engagement and satisfaction.
Automation and Process Optimization
- Underwriting Automation: Deploying automated underwriting systems that speed up policy issuance by leveraging artificial intelligence (AI) and machine learning (ML) to evaluate risk based on pre-approved guidelines.
- Robotic Process Automation (RPA): Automating routine back-office tasks such as premium processing, document management, and compliance checks, reducing operational costs and improving accuracy.
- Claims Automation: Implementing automated processes for beneficiary verification, document collection, and payout disbursement to reduce claim cycle times.
Cybersecurity and Risk Management
- Data Privacy and Security: Implementing cybersecurity measures to protect sensitive personal and financial data, ensuring compliance with laws like HIPAA, GDPR, and state-specific privacy regulations.
- Fraud Prevention: Deploying fraud detection systems that use AI to monitor policyholder data, claims, and underwriting for suspicious activities.
- Disaster Recovery and Business Continuity: Ensuring that life insurance operations can recover quickly from system failures, data breaches, or other catastrophic events.
Cloud Migration and Infrastructure Modernization
- Cloud-Based Solutions: Migrating legacy systems to cloud platforms to enhance scalability, reduce operational costs, and improve flexibility in managing life insurance products.
- Infrastructure Modernization: Upgrading IT infrastructure to support more advanced tools such as big data analytics, mobile platforms, and digital service delivery, improving both back-end and front-end operations.
Agile and Scalable IT Delivery
- Agile Development Methodologies: Implementing Agile and DevOps practices to accelerate the development and deployment of life insurance products and services, allowing for faster iterations and updates.
- Scalable Solutions: Ensuring the life insurance systems are built to scale in response to growing policyholder bases or the introduction of new products, especially in expanding markets or global regions.
Compliance and Risk Management
- Regulatory Compliance Systems: Implementing systems that monitor and adapt to regulatory changes, ensuring compliance with state insurance commissions, NAIC model regulations, and international standards like Solvency II.
- Risk and Capital Management: Developing systems that support life insurers in managing capital reserves and calculating solvency ratios, adhering to statutory requirements and optimizing financial health.
- IFRS 17 Readiness: Preparing life insurers for international financial reporting standards (IFRS 17), which impact the way life insurance contracts are measured, reported, and disclosed.
IT’S TIME TO ELEVATE THE Q OF YOUR QA
INFORCE views Quality Assurance as a vastly underutilized opportunity to streamline the entire delivery process, increase overall cost-effectiveness, and ensure optimal performance of your insurance technology upon deployment. That’s why we commit an unmatched level of investment into fielding an elite QA team that consistently provides superior performance and eye-opening results. In fact, QA this good routinely pays for itself…and then some. IQA℠ IAQ™ truly is The Smartest Way to Test!
5 HALLMARKS OF OUR GAME-CHANGING IQA
UPSKILLED TEAM TALENT
Our QA team’s insurance industry acumen proves invaluable on every single engagement.
WE’RE PRO PROACTIVITY
We don’t just follow directions. We follow our intuition and evidence to dig into issues we spot along the way.
WE SEE AROUND CORNERS
Our experience with a vast array of insurance systems and software allows us to better predict how a change in one area may affect another.
WE OFFER QAs PLUS
Our QAs don’t work in silos, but collaboratively alongside experienced BAs and Developers for instant access to even greater expertise.
KNOWING WHEN AND WHERE TO GO MANUAL OR AUTOMATE
Our expertise in both approaches is invaluable for developing the most efficient and effective plan to optimize your software.
