Pactera Technology International has launched its web-based insurance software Innoveo Skye for Combined Insurance.
Innoveo Skye (www.innoveo.com) is a multi-channel web-based software that enhances the way insurance companies bring products to market with dynamic configuration of insurance products, processes and distribution channels.
Combined Insurance is a leading provider of supplemental accident, disability, health and life insurance products, and is a Chubb company.
Innoveo Skye’s multifaceted technology suite accelerates insurance product launch cycles, facilitates speed to market, and greatly diminishes ongoing legacy system maintenance costs through its unique core system unification functionality.
The powerful Innoveo Skye Business Canvas allows insurance companies to streamline both new product development and maintenance. Furthermore, the Innoveo Skye solution expands product delivery options by offering its omni-channel digital capabilities and improved agent and consumer user experience. With the North American launch of Innoveo Skye last year, the product now supports a wide array of coverages ranging from supplemental life and health (as enabled for Combined Insurance), Business Owner's Policies (BOP) to commercial P&C.
"We selected Innoveo Skye over several alternatives because we felt this platform gave us the best balance of speed, innovation and flexibility," said Daren Allen, Director, Independent Agency Sales and Business Development for Combined Insurance. "The Innoveo Skye platform will help us launch new and innovative supplemental insurance products faster to our agents and their consumers. To us, that's the bottom line."
At Combined Insurance, Innoveo Skye enabled web-based quoting and enrollment for six of their products for their independent broker channel in the United States. These products include Accident, Sickpay Plus and Medicare Supplement and are in high demand by brokers seeking to offer high quality products to supplement standard coverage for the customers that depend upon them.
Innoveo has a proven track record of shortening the new product rollout cycle from months to days. Innoveo Skye offers its solution via the cloud or as an onsite hosted product.
"Using Innoveo Skye, insurance companies can launch their products up to 10 times faster than before" says Nick Stefania, CEO of Pactera Switzerland. He believes that Innoveo Skye has a strong future in the US Market, explaining further that the Innoveo Skye platform allows the business analysts of the insurance companies to quickly build, change, configure and launch new insurance products in days rather than months, integrating to existing legacy and policy administration systems, allowing companies to innovate in a highly competitive time in the health and supplemental insurance markets.
Prior to its recent North American launch, Innoveo Skye has been installed in Europe, Asia, the Middle East, and Africa. The introduction of Innoveo Skye comes on the heels of Pactera's top-100 (#59) placement in the 2015 IDC Financial Insights FinTech Rankings and is a critical part of the company's North America growth initiatives.