Sachseln, Swaziland (PressExposure) May 22, 2012 -- BPM Wave International AG, a leading provider of Business Process Improvement Solutions for Oil and Gas, Energy, Manufacturing and Legal markets and Qualysoft, a leading process-oriented software services provider with an international presence, specialized on Utilities and Financial markets, have teamed up to develop an integrated approval management platform for the insurance industry. The solution embeds the best of breed products: PlenaryÂ™ by BPM Wave and InfinicaÂ™ by Qualysoft, and targets the Central and Eastern Europe region.
"Insurance companies in the CEE are on a rising trend to adopt state-of-the art technologies such as Business Process Management to ensure proper control and efficiency of their operational processes. Risk and exception management, as well as revenue growth and improved customer care are only a few of the goals which insurance companies hope to achieve by automating their processes and building solid Enterprise Architectures for their business model.
From this point of view, our joint solution for approval management takes the best of what both partners have to offer to the regional insurance market: Qualysoft's extensive experience and know-how in developing solutions for insurance customers and BPM Wave's awarded BPM product, PlenaryÂ™. Together, we have developed more than half a dozen operational processes for the use of both life and non-life insurance clients, on top of the existing 80+ standard PlenaryÂ™ processes, which have horizontal applications. More so, the solution embeds Qualysoft's leading product, InfinicaÂ™, for advanced content management", says Adela Cornescu, CEO of BPM Wave International AG.
The partnership has been active since 2012 and will target both domestic and regional insurance players.
"Financial service providers have been facing strong competition since the deregulation of the markets. In order to align business processes in a cost-efficient and customer oriented way, they have to adapt their IT systems and the corresponding information flow to the new situation. Business processes which are still strongly based on hardcopies are especially inefficient, labour-intensive and increase the costs. For consolidation of their business and IT processes, insurance companies therefore have to be able to access creators of documents whose solutions automate business processes and thus shorten the distribution cycle. Depending on the case, cost reductions of up to 90% can be reached by the systematic use of corresponding tools for process automation and personalization of documents.
We are very confident that combining BPM Wave's recognized expertise in business process management solutions, confirmed by the award winning Enterprise Authorization platform "Plenary", together with Qualysoft's extended insurance business know-how and innovative smart document composition product "Infinica", we will provide our current and future customers with the means to focus on growing their business, rather than addressing time-consuming and recurring issues", says Marius Diaconu - Member of Directors' Board of Qualysoft.