Polaris Financial Technology Ltd.
Thursday, September 26, 2013 05:40 PM IST (12:10 PM GMT)
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Nationwide Financial Selects Polaris’ Intellect® Claims Solution
A comprehensive Information Model based on ACORD standards
Chennai, Tamil Nadu, India, Thursday, September 26, 2013 — (Business Wire India) — Polaris Financial Technology Limited, a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, today announced that Nationwide Financial has chosen to implement Polaris’ Intellect® Claims solution.
Nationwide Financial has chosen to deploy Polaris’ Intellect Claims solution comprising a Claims workstation, service portal, and an integrated beneficiary management system.
The solution will allow Nationwide Financial to enhance their claims process, improve the customer experience, demonstrate compliance with regulatory requirements, and drive business transformation. In addition, Polaris will provide integration services with several Life and Annuity administrative platforms to provide a single user experience.
“Polaris’ solution was a good fit due to its flexibility in configuring the claims process to fit our diverse needs and setup role based workstations, which we believe will lead to a superior customer experience,” said Jeff Stein, Vice President of Insurance Operations for Nationwide Financial. “We think Intellect Claims will help us comply with new regulatory requirements.”
Commenting on the successful deal, Pranav Pasricha, Global Head, Insurance, Polaris Financial Technology Limited said, “This is a significant win for Polaris in the enterprise product space. It not only provides the required validation for our product in the Life insurance market, but also paves the way to build a bigger brand in the North American insurance market. Polaris’ partnership with Nationwide further enhances our ability to demonstrate our expertise and leadership in the insurance and financial services markets.”
Intellect Claims is built using components and frameworks that accelerate delivery and connect to legacy systems, providing seamless integration and straight through processing for critical business processes. As a quick, accurate and easy end-to-end claims processing solution, Intellect Claims’ rapid configurability meets the customer’s exact business requirements.
Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides customers a full range of insurance and financial services, including auto insurance, motorcycle, boat, homeowners, pet, life insurance, farm, commercial insurance, annuities, mortgages, mutual funds, pensions, long-term savings plans and specialty health services. For more information, visit www.nationwide.com
About Polaris Financial Technology Limited
Polaris Financial Technology Limited is a global leader in Financial Technology for Insurance, Banking, and Financial Services with 7 of the top 10 insurers and 9 of the top 10 banks as partners. With over 25 years of expertise in building a comprehensive portfolio of products, smart legacy modernization services and consulting, Polaris owns the largest set of Intellectual Properties in the form of a comprehensive product suite, Intellect® which is the world’s first pure play Service Oriented Architecture (SOA) based application suite for Insurance, Retail, Corporate, and Investment banking. Polaris has 40 relationship offices across 30 countries, 6 international development centers and 8 fully owned business solution centers. Polaris has a talent strength of over 13,000 solution architects, domain and technology experts. For more information, please visit http://www.polarisFT.com/
Minal Sahani, For Media related info, Polaris Financial Technology Ltd, +91 91766 26468, minal.sahani@polarisFT.com
G. Sunanthy Devi, For Investor related info, Polaris Financial Technology Ltd, +91 8939933564, sunanthy.g@polarisFT.com