Return On Intelligence: Leveraging Core System Transformations Solutions for Insurance Carriers

CIO VendorJonathan Kalman, President, Insurance Business Unit
The Property & Casualty insurance market today is competitive and demanding with increased pressure to generate new sources of revenue in core systems and data initiatives. Enterprises are in thrust to keep abreast of disruptive technology changes, anticipate evolving consumer and commercial buyer preferences, and respond to regulatory changes. Return on Intelligence (ROI) understands this environment and brings experienced practitioners who have combined expertise in insurance and technology to assist clients.

ROI recognizes that their clients are searching for business solutions, not more technology purchases. While ROI knows that technology must deliver that business value, it’s an expense that needs to be kept check whenever possible. When a client engages with ROI, the client receives a consultative review of how the client can derive strategic value; and where the need for change exists– front, middle, or backend systems.

“There is an imminent need for the Insurance carriers to become more efficient in their middle-office. We provide a strategic approach towards exerting their core system transformations that not only minimizes the underlying risks, but also upholds the investment value for the clients,” says Jonathan Kalman, President of Insurance Solutions, ROI.

Founded in January of 2012, ROI provides innovative consulting, systems integration and commercial software engineering solutions to help clients strategize, design and implement core systems transformation solutions, positioning them to successfully respond to the pervasive impact of I-SMAC— the Internet of Everything, Social Media, Mobility, Analytics and Cloud- Computing. The company has a global network of delivery teams located across the U.S., Eastern Europe, and Russia.
ROI focuses on several key areas of service. They help clients effectively deal with systems that are either on premise or on the cloud. They also assist in handling big data and analytics by leveraging new technologies around SAP HANA, encouraging clients to move analytics usage from batch mode to real-time, mapping into the business processes of an insurance carrier. As well, they concentrate on core systems transformations that require a disciplined approach based on managing risk, governance and performance, which is delivered through omni-channel solutions. “This operating model is specifically tailored to meet the needs of independent software vendors and is optimized to increase efficiency along the entire product development lifecycle,” says Kalman.

Some specific disruptive technologies that ROI utilizes to provide real value to its clients are derived from the IP of its partnerships with SAP, and leveraging HANA real time database and predictive analytics capabilities and hybris technologies—the number one commercial omni-channel solution provider worldwide. According to ROI, SAP HANA is not a data storage device, but rather it can accept data from any data source (Oracle, IBM, Hadoop, SAS) and reformat it for real time insurance transactions.

With Insurance and FSI being the key verticals on which ROI delivers its services and solutions, the company also approaches sub verticals such as capital markets, wealth and asset management and retail banking. On the insurance side, it includes group, casualty, health and life insurance carriers.

One of ROI’s most exceptional successes can be found in their implementation of a cloud-based policy and claims solution with an insurance company that was providing insurance to high risk coastal home owners. When Hurricane Sandy hit the New England coast, the insurance company was able to handle tens of thousands of property claims without crashing their core systems. Since their core systems were cloudbased, they were able to shift some of the claims adjusting efforts to its preferred TPA Without incident. Going forward, ROI is positioned to become one of North America’s fastest growing companies and one of sAP’s top global Insurance and Financial Services partners. “We look forward to bringing our clients, innovative solutions on sAP technology, along with implementing our own intellectual property,” concludes Kalman.

Company
Return On Intelligence

Management
Jonathan Kalman, President, Insurance Business Unit

Description
Return on Intelligence delivers innovative consulting, systems integration and commercial software engineering solutions to help clients strategize design and implement core systems transformation solutions