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The
ability to keep technology up-to-date and the resource concerns for
doing so usually present a dilemma to many insurance companies,
especially those with medium to small sized operations. We provide a
total solution to the above technology-resource dilemma through our
On-Demand Application Service (ODAS).
How
Does ODAS Work?
Under
ODAS arrangement, Prescience acts as an Application
Service Provider of the administration system. The administration
platform is installed and implemented on Prescience’s server by our
actuarial and IT teams. Insurance company staff can access information
and perform administration tasks using web browsers through secured
internet connection. All business data is transmitted in encrypted
format to ensure security and confidentiality. Prescience provides all
services related to hardware and software maintenance and data backup.
Benefits of ODAS
ODAS
enables clients (life insurance companies) make the best use of
available resources and focus on the core business of managing risks.
The major benefits about ODAS include:
·
Client
does not need to purchase the administration system.
·
Client
does not need to purchase additional server.
·
Client
does not need to purchase database license.
·
The
system can simply be accessed using web browser via an internet
connection.
·
No
software deployment is needed on client side.
·
Faster
and more accurate system implementation by our professional IT and
actuarial teams ensures smooth and painless transition. No client-side
implementation is needed.
·
The
system is always kept up to date, available and managed for performance
by our professional IT and actuarial teams.
·
Data
transmission on internet is secured by encryption technology in
accordance with the industry’s highest standard.
·
On-site
and off-site data backups are performed daily to ensure data safety.
·
Client
has full support from our IT and actuarial experts.
·
On-going
system costs are lower and more predictable.
·
Client
can redeploy its human and financial resources to other critical areas
that impact the company’s bottom line.
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