IBM targets insurance industry with new SOA-based solutions
IBM has announced two new advances for the insurance industry that are designed to help providers handle core functions more efficiently.IBM has announced two new advances for the insurance industry that are designed to help providers handle core functions more efficiently.
Through IBM's new Insurance Operations of the Future (IOF) Solution, Service-oriented Architecture (SOA) can be used to recognize inbound work tasks - such as claims processing - and extract the relevant information quickly.
From there, the IOF Solution can automatically route the work task to an automated process, a clerical process or a specialist process path.
The foundation of IOF is the new IBM Insurance Process Acceleration (IPA) Framework, which provides the SOA infrastructure required to enable solutions to target processes.
Mark Lewis, general manager of IBM, said: "The IOF Solution allows insurance companies to dramatically cut costs and better respond to the growing needs of customers, agents and regulators while the IPA Framework provides an agile base for future insurance applications and solutions.
"These advances provide a glimpse of what the future of the insurance industry will look like."
Recently, IBM and Research In Motion announced a partnership to deliver Web 2.0 software for the BlackBerry platform.