Pegasystems has unveiled a new insurance solution, which according to teh company will revolutionize the way insurers process claims and deploy claims management functionality across operations.

The new solution, Pega Claims, is specially designed for property and casualty insurers.

The new insurance claims solution provides time to value through a single, unified and strategic platform, and delivers quick deployment and increased flexibility without compromising rich functionality.

The Pega Claims solution features case management capabilities, streamlines claims handling and provides complete visibility into claim activities, status, service level agreements (SLAs) and financials for each occurrence.

In addition, the solution leverages decision management to improve claim adjudication which helps insurers reduce claim costs and mitigate claim leakage.

Pegasystems insurance industry solutions director David Carlon said that the new solution reduces complexity, accelerates business value, and lowers claim servicing cost because, unlike legacy approaches, it delivers full claims process capabilities on a single, unified and open platform.