The Key Benefits of Using Investment Management Software

Managing an entire portfolio as multiple isolated investments is never a strategic approach when it comes to investment management for insurance businesses. With multiple investments made in various asset classes, large businesses always find troubles in aligning such investments with their strategic goals and while challenges are significant, tracking such investments manually or using spreadsheets can be problematic and prone to multiple errors.

With the rapidly changing landscape of investments and managing large-scale portfolios, it is important for an investment management company or insurance businesses alike to gain real-time visibility of the performance of their investments. Using 3i Infotech’s investment management software, portfolio managers can effectively manage resources and develop an optimum investment portfolio that meets the long-term goals while ensuring a strong foundation for a chance of greater success.

Various benefits are associated with implementing state-of-the-art investment management software which are as under:

Key Benefits of Using Investment Management Software:

1.     Better Performance Tracking:

With real-time access to investment-related information and support for a wide range of asset classes that includes equity, money market, exchange traded-derivatives, fixed income, asset-backed securities, forex and interest rate swaps, investment management companies or large organizations can have a comprehensive solution with easy implementation and integration. A snapshot of the performance of the entire portfolio and a single platform to manage multi-currency, multi-entity and/or multi-asset classes, portfolio managers can effectively track the returns to ensure the performance of investments are in line with the expectations.

2.     Minimizes Risk:

With increased volatility, designing an investment portfolio of risky assets with reduced portfolio variance can help investment managers effectively manage various investment cycles to ensure ideal returns are generated while risk is efficiently managed. 3i Infotech’s investment management software enables portfolio managers with the ability to reduce risk exposure while adhering to all the regulatory requirements that ensure extensive flexibility within the investment portfolio.

3.     Increases Business Agility with Improved Productivity and Accuracy:

With a user-friendly dashboard, intuitive decision-support tools and seamless flow of real-time information, portfolio managers can easily sail through the volatility of the markets while ensuring an efficient portfolio that helps build a sharper and competitive organization by bringing greater productivity and accuracy with multiple automated investment functions. The customizable framework helps to meet all the client requirements while the software can be easily integrated with the daily functions of the insurance business to ensure a cost-effective maintenance while reducing training and development efforts.

Effective Workers Compensation Using Claims Management Software

The worker’s compensation claims are on the rise and experts predict that such costs will continue to grow in the future. Increased costs mean less room for profitability and one way insurers can effectively handle such increasing costs is by implementing a claimsmanagement software that allows companies to effectively handle claims procedures and formalize the workplace injury process.

3iInfotech’s Premia Insurance Software helps employers better manage such costs related to such compensation injuries through the following important components that it facilitates:

1.     Accurate Injury Reporting:

The claims management software accurately processes the information related to an accident as soon as an injury is reported. It helps in following detailed reporting procedures and manages the first 24 to 48 hours of a worker’s compensation claim by collecting accurate accident related information that eventually helps in the better processing of such claims.

2.     Claims Reporting:

As soon as an injury is reported, a claim reporting process is generated that effectively allows insurers to investigate the accident and set cost mitigation techniques into motion.

3.     Accident Investigation:

To prevent any fraudulent claims, a detailed investigation report of the accident and its cause is an essential step to perform. Implementation of Premia Insurance Software provides various steps to ensure the investigation of the accident is conducted by following a step-based approach that includes immediate reporting followed by a written statement from the employee, written witness statement, Supervisor report and internal follow up that reviews all the accident-related documents. This helps in managing costs and prevents any business losses.

Such comprehensive claims management software is developed to address the needs of changing trends in occupational hazards and worker’s compensation benefits and while it allows an effective handling of worker’s compensation claims, it also includes various other systems that include:

-          Illness Claims Management

-          Lost Time Indemnity Processing

-          Medical Payment Processing

-          Extensive formats of customizable reports

-          Fund Accounting

-          Litigation tracking

-          Easy configurability of security systems

-          Easy integration with present enterprise solutions

An efficient software solution not only helps in automation of the systems but also helps in implementing sophisticated systems that develop a flexible approach along with a user-friendly interface for employees to understand its use and manage the daily operations effectively.

Getting to know more about Investment Management Software of 3i Infotech

Management of numerous projects, generating tasks, creating plans for business development, managing people etc. are some of the vital processes carried out within an organization routinely. Ensuring smooth functioning of multiple projects, running simultaneously, requires effectiveness in process management, which is the only way to beat the competitive market such as the insurance sector and make your business venture promising and profitable.

3i Infotech’s Investment Management Software can certainly facilitate a process improvement while reducing the overall turnaround time to drive the projects of a company forward. While the benefits of implementation of such investment management solutions are limitless, it is among the most valuable tools that help insurance companies, whether large or small become competitive while ensuring consistency and improving auditability.
The key features of the Investment Management Software are as follows:
1. Project Planning: Track multiple projects simultaneously with an integrated approach across various business verticals within a project.
2. Time Management & Scheduling: Reduces the overall turnaround time while the ability to collaborate enables the team effectively work on a large project.
3. Designed Focusing Insurance Business: The investment management solution from 3i Infotech focuses on various insurance processes like financial underwriting medical underwriting, batch underwriting, financial accounting and facilitates easy proposals to policy conversions making it adaptable for insurance business.
4. Integrated Risk-Analysis Tools: Assists in risk-management, a highly sensitive factor in the insurance sector, while determining the level of risk to effectively determine the insurance premiums and profiling the risky segments within the insurance business.
5. Resource Allocation: Easy delegation of tasks within multiple departments and across all the team members that ensures complete accountability of the processes in place.
6. Easy User-Interface: A user-friendly interface of the investment management software ensures no time is wasted on training and implementation for the effective functioning of day-to-day activities.
7. Improved Productivity at Reduced Business Costs: Systematic track of budget, spending, time and resources helps in a streamlined approach to gauge the market performance with a significant reduction in management costs.
8. Flexible, Improved Scalability and Fraud Prevention: Fully customizable software warrants a flexible investment management solution with increased levels of performance and efficiency for the insurance companies to sustain in a competitive environment. Also, the transaction auditing capability ensures fraud prevention and remains compliant with the companies’ procedures.
These and other multitude of benefits available on 3i Infotech’s Investment Management Software encapsulates your entire business processes while making itself the best solution that leads to better investment decisions.

Tips for Selecting the Right Pension Fund Management Software

With increased competition, pension funds are always in a greater pursuit to generate higher returns for their investors. This, in turn, results in a fund allocation across various investment alternatives within the portfolio such as exposure to equity, real-estate, hedge-funds or infrastructure. With increased allocation comes the need for better accountability and performing due diligence tasks of such investments to track the returns so generated are in line with the expectations. And hence, similar to the financial services companies, the pension industry also depends on technology for survival in a competitive market.

Pension fund management software:

Furthermore, during an economic slow-down, pension funds face even stressful situations resulting from reduced investment returns, thin margins, regulatory compliance burden, coupled with changing investment landscape and downward pressure on fees. Effectively addressing such challenges and steering the competition away requires round-the-clock access to information and deployment of a state-of-the-art pension fund management software solution, which creates business opportunities, broaden existing relationships while securing a competitive edge in the market

3i Infotech’s Pension Fund Management Software is the right tool that offers an integrated approach to monitor a fund’s investments across all the asset-classes and provides flexibility in evaluating investment opportunities. It manages an entire lifecycle of the activities performed in a pension fund i.e. receipt of funds, fund allocation, maintenance of records, analysis of investments, disposal of assets and switching of investments that help to consolidate information and make all the data available as and when needed. Such highly responsive and dynamic technology also helps in advanced research to facilitate decision-making based on real-time information and provides an easy access to data with the user-friendly interface that displays a snapshot of a fund’s performance.

Organizations capitalizing on 3i Infotech’s Pension Fund Management Software solution can achieve the following benefits:

- Supports all types of annuity/pension plans

- Facilitates all the demands of investors with solutions of providing quotations, Policy Conversion, Redemptions, Change in Policy Members, Repayment and Maturity

- Single View for front-desk to define all the conditions of a particular product for easy understanding

- Supports Group Pension Policies

- Easy Integration with Existing Systems

- Multi-Tiered Architecture to facilitate effective policy servicing

- Increased operational and cost efficiencies with an overall reduction in the turnaround time.

- Facilitate better investment decision-making based on real-time information access

- Generation of relevant and easy-to-understand reports for the management team, the board, and relevant parties

- Better performance with proper due-diligence and adherence to company’s investment exposure mandates.

3i Infotech’s Pension Fund Management Software is ideal for every small/large pension fund management company that easily aggregates performance data to evaluate portfolios across every asset-class while accessing a multitude of dimensions to facilitate additional analysis. A cost-effective solution, the product becomes a necessity for every pension fund to accommodate in the competitive scenario while building systems compatible with the present operational efficiencies.

Key Things to Avoid with Investment Management Software Solutions

Investment managers need reliable Investment Management Software to track their funding efforts and manage their investments. Especially in an unpredictable economy, the right Investment Management Solutions can make a difference in managing a successful fund. However, before implementing a software management system, you need to be aware of potential problems and pitfalls and learn how to avoid them.

Living Only for Today: 
Many small and medium-sized businesses are so focused on growing their bottom line that they often focus on software programs that can meet their immediate needs but fail to consider future possibilities. What you need now in a customer relationship management (CRM), enterprise resource planning (ERP), accounts payable, payroll or another type of Investment Management Software program may change within the next 18-24 months as your organization grows and gains additional employees and customers. Selecting a software platform takes time.  You don’t want to have to repeat the search process within two years because you grew faster than you planned.

Favoring Features over Functions:
You should always look for features which exactly suit your current requirement and not according to the next year. At times overloading with ample of features makes it difficult to understand the use of the software. The shiny bells and whistles are great if they help address your business’s needs. If these features only make the program look pretty but don’t actually help you achieve your goals, you should consider a different program.

Data Quality: 
It is an important consideration for fund managers. You will also need to define quality levels and accessibility guidelines to keep data consistent and accurate. Check to see if a new software program you are considering can combine several applications so that you won’t have to move data among several programs or accounts.
In addition, a quality software program will include FAQs, online customer support, and additional information at the product website.

Not Opt for Too Many Options:
You should think of Investment Management Solutions which not only helps you in the start, but also look for something which precisely meets your requirements. Many popular systems are very robust, which is a great selling point for many of these products. However, choosing a program that is too complex for your needs could be confusing to your users. Instead of increasing efficiencies in your office, you could be making everyone’s job more complicated by implementing a cumbersome system. Not to mention, you could end up overpaying for something you will never fully utilize.

Ensure Better Compliance with Effective Risk Management Solutions

Recent high-profile company implosions have shown that currently howsoever, the name, money, strength and overall price of the many corporations' area units are in danger. These unforeseen risks will have harmful consequences. The progressively unstable atmosphere in which corporations operate has increased risk factors and needs more practical control and management.
Leading organizations worldwide should rely on various management solutions to enhance the overall effectiveness of risk management initiatives while streamlining day-to-day risk management processes. Specifically, they should look for:

ClaimsManagement Solutions 

• Embed and integrate risk management in business processes
• Communicate risk and risk treatment widely
• Link risk management directly to decision making
• Monitor structure and individual performance against goals and objectives
• Create a risk-aware culture through social control and responsibility
We at 3i Infotech bring Risk Management solutions software along with Claims Management Software that enables organizations to better manage risk and take advantage of opportunities relating to business objectives and goals. We provides a powerful and flexible framework for managing risk, allowing organizations to identify, analyze, evaluate and treat both risks and opportunities in order to protect the corporate brand, create value for shareholders, owners, employees, customers and regulators.
Our Risk Management Solutions and Claims Management Solutions provide mix powerful risk management capabilities into a versatile resolution that streamlines processes and reduces errors versus manual ways. Specific options and edges include:
• Support for multiple methodologies and frameworks permits organizations to manage risk exploitation standards/approaches whereas guaranteeing compliance with myriad rules.
• Interactive dashboards and reports offer period of time visibility into the state of risk management to any or all levels of the organization.
• Unparalleled flexibility permits business users to tack together the system to dead match Associate in Nursing organization's existing risk management processes as well as advancement, field names, rating scales, naming conventions, page layouts and different best practices.
• Tasks, notifications and escalations alert users and managers once ERM tasks, as well as risk treatments and controls testing, must be performed or once problems occur.
• Roles-based security and audit trails ensure the integrity of data and tracks all changes to records in the system.
• Flexible deployment options allow organizations to host compliance information on-premise or deploy in the cloud as a hosted solution.

Our Risk Management solutions and Claims Management software that which is in Claims Management Solutions includes a common infrastructure for organizations to manage Governance, Risk and Compliance data on wide basis. With integrated reporting/dashboards, full audit support, and more, our platform is that the complete resolution for governance, risk and compliance necessities.

Risk Management Solutions and Its Optimizing Strategies

Risk Management Solutions and Claims Management Solutions assist you to develop an integrated approach to risk management and business improvement. This permits you to implement correct operational governance guidelines to poise internal controls with business goals. Risk Management methods describe and analyze key risks related to your business and IT processes, to scale back operational risk exposure, and implement effective controls. By making a cooperative space and shared repository of data on risks and processes, you have got to suggest that to ceaselessly review the potency of your processes and risk exposure and the way they contribute to your business goals. 3iInfotech’s Risk Management Solutions and Claims Management Solutions address the needs of Risk Managers, Internal Auditors and Compliance Officers to:

Claims Management Software

• MITIGATE BUSINESS AND IT RISKS.
• INTEGRATE RISKS INTO TRANSFORMATION SCENARIOS.
• GET RISKS UNDER CONTROL AND ENSURE REGULATORY COMPLIANCE.

MITIGATE BUSINESS AND IT RISKS
1. Identify, evaluate, and prioritize risks to define adequate risk remediation plans:
2. Identify risks with internal stakeholders using process, assets and data modeling capabilities, and organize risks registers update.
3. Evaluate and prioritize risks using multiple expert methodologies and define bottom up or top down approaches based on organizational context.
4. Describe suitable risk remediation plans bearing in mind the existing controls productivity results, new action plans creation, or control operation.

INTEGRATE RISKS INTO YOUR TRANSFORMATION SCENARIOS
1. Integrate risk management into the suitable IT and business transformation situations to create higher choices.
2. Assign risks to the suitable IT and business transformation situations, besides quality, business impact, practicability, and alignment criteria.
3. Create better-informed choices supported risk and opportunities, by giving your IT Risk Managers the aptitude to have an effect on strategic choices and share key info through a standard information.
4. Monitor IT risk levels to secure future modification situations, and update situation risk profile over time.
GET RISKS UNDER CONTROL AND ENSURE REGULATORY COMPLIANCE
1. Design and implement an internal control system aligned with your business transformation strategy:
2. Streamline your corporate and local control plans to fit your transformation strategy and the associated risks.
3. Find the right balance between strict but costly risks mitigation, low control coverage, or balanced cost/risk exposure.
4. Trigger risk-based audit plans focused on your transformation strategy by managing audit teams, planning yearly audits and using our integrated risks and audit platform.