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.