Source: Unisys Corporation
Unisys Corporation (NYSE:UIS) has expanded its relationship with Reliance Standard Life Insurance Company (RSL) by designing and implementing a managed services solution to help the insurer transform its payments operations while improving customer service, controlling costs, and better managing legacy investments in a dynamically changing industry landscape.
Unisys has helped RSL transform its technology and business operations since 1997, providing consulting services, systems integration, and software computer systems. Unisys successfully assisted RSL in reengineering projects in policy and claims administration, sales, underwriting, document management, website design and development, and other areas. The current engagement in remittance processing and billing, initiated in March 2006, builds on that success.
Unisys currently is consolidating RSL's remittance processing and billing into a single operation to better manage administration of its $800 million in annual premiums and to expedite processing for the 250,000 checks the insurer receives each year. Subsequent phases of the engagement will include enhanced capabilities and process improvements in other parts of the insurer's payments revenue supply chain, including the introduction of new customer services such as electronic bill presentation and payment.
"Implementing a managed services engagement for our remittance processing and billing operations is just a natural extension of our ongoing reengineering work with Unisys, which continues to be a valued partner in helping us find new ways to optimize costs and enhance customer service," said Dan Falkenstein, vice president and chief information officer at RSL. "The deep industry knowledge of Unisys consultants in both payments and insurance administration makes them the ideal partner to trust with managing our remittance and billing operation, especially as we plan for new e-billing, e-payments and other more convenient options for our policyholders."
In the first phase of the managed services engagement, Unisys is establishing operational management of processing remittances and lockboxes while also reengineering processes, such as developing a common image archive for paper-based payments, and redesigning both IT and business procedures.
"Overseeing billing and remittance processing for multiple product lines is one of the most daunting challenges facing insurers today, especially with the ongoing transformation needed to move from paper to electronic channels," said Curt Girod, president of Global Financial Services at Unisys. "Unisys helps RSL and other financial institutions better integrate a myriad separate business processes and IT systems to allow clients to streamline the way they manage payments enterprise-wide."
In developing its solution for RSL, Unisys uses its 3D Visible Enterprise (3D-VE) approach, which enables a client to see and then act on cause-effect relationships among business strategy, processes and IT requirements throughout the entire enterprise. This visibility enables informed decisions and helps reduce the risks associated with implementing change. Unisys worked with RSL in extensive workshops and modeling exercises to help management analyze the current operations and better formulate a transformation strategy for their entire billing and remittance operations.
By using the 3D-VE approach for managed services, Unisys clients can realize the benefits of secure business operations - breakthrough performance in customer service and satisfaction, competitive advantage in a dynamic marketplace, greater agility in IT management with minimized risks and higher availability, improved operational efficiency, and more effective cost control.