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Mphasis (Bangalore/New York), an IT services and solutions vendor, has launched ComPASS, a policy administration suite for Group Benefits that the vendor describes as consisting of services wrapped around an agile platform that can be deployed on-cloud or on premise.
ComPASS is designed to disrupt existing operating models in the Group Benefits market by empowering digital account management while offering a high ROI, minimal adoption cost, enhanced speed-to-market, and the best use of technologies such as Analytics and robotic process automation, according to Dinesh Venugopal, president, Mphasis Digital and Strategic Customers. “We are excited to introduce this solution which will further enhance our leadership role in the insurance sector,” he says. “We at Mphasis constantly aim to innovate and co-create with customers and the ComPASS Suite is a breakthrough solution for the insurance industry with unmatched advantages.”
Mphasis has released the solution to address a marketing opportunity created by insurance carriers’ burden of disparate enrollment and billing systems. These systems and their sub-standard user experiences result in low customer satisfaction, high costs of benefit changes & license fees for new platforms, and annual enrollment programming that limit the ability to innovate, and high license fee costs for new platforms, according to the vendor. Carriers are also pressured to retain experienced CSRs with leveling of costs that must be balanced against seasonal needs, manage poor integration across channels and difficult ongoing account management processes, the vendor asserts.
Agility and Cost-Efficiency
Mphasis touts ComPASS for Group Benefits as providing greater agility in completing annual benefit updates, while reducing operating expenses by 30 to 40 percent. The vendor describes ComPASS as wrapped around a highly configurable PAS platform and Mphasis’ cost-efficient business process services with digital enablement technologies and interactive portals that enhance user experiences and drive tighter carrier-customer relationship. This allows carriers to deliver superior account management models with Mphasis addressing the challenges of seasonal staffing and programming, the vendor says.