IBM Genelco Insurance Administration Solution (IBM GIAS)™

IBM GIAS is one base system that will transform a carrier's insurance operation by  streamlining operations and increasing flexibility.  IBM GIAS is a new generation Java-based, web-based solution for insurance administration and claims processing for individual and group life, health, disability and annuity insurance products.  It allows an organization to achieve the right balance of agility, flexibility, scalability and extensibility necessary for a modern administration experience. 

IBM GIAS is:

• Java- and Web-based
• ACORD-compliant
• Seamlessly integrated to a world-class rules engine, the IBM Operational Decision Manager
• Operates in a flexible Service Oriented Architecture (SOA)
• Extensible to additional processing protocols through web services
• Platform and database independent allowing IT to choose the computing environment most advantageous for the organization.

Provides wide and deep insurance product support not found in other modern systems:

• LIFE products (Term Life, Whole Life, Endowments, ISWL, Universal Life, Equity-Indexed, Variable Universal Life, Pre-need)
• HEALTH products ( Major Medical, Managed Care, Dental, Vision Care, Drug, Critical Illness, Personal Accident, Hospital Indemnity, Medicare Supplement, MediGap, Specialty)
• ANNUITY products (Fixed, Flexible, Single Premium Deferred, Single Premium Immediate, Variable, Qualified)
• DISABILITY products (Short-Term, Long-Term, LTC, AD&D)

Individual Processing Administration functionality:

• Product Definition
• Valuation
• New Business
• Billing and Collections
• Agency and Commissions
• Policy Owner Services
• and, more.

Group Processing Administration functionality:

• Health Plan Administration and Benefit Management
• Claim Adjudication Management including Automatic Claim Adjudication and EDI
• Worksite/Workplace/Voluntary
• HSA/HRA/FSA
• HIPAA, 5010 and ICD-10 compliant
• Premium and fee billing and collection for individuals, groups, trusts, association business and COBRA
• Eligibility maintenance
• Producer Compensation
• New Business Application Tracking and Premium Payments
• Reinsurance
• Direct Marketing, Sales Promotions and Campaigns.

 Use IBM GIAS transforms an insurance operation to:

• Support quicker speed to the market
• Resolve a processing need for simple and/or complex product administration
• Replace an aging system or respond to a market niche opportunity
• Consolidate systems to eliminate integration and maintenance issues
• Use business rules to adapt to a market condition, business requirement or customer demand without involving IT
• Obtain all the advantages of a modern rules system with the advantages of out-of-the-box proven administration processing
• Enable enhanced customer service experiences
• Obtain a quick and cost-effective implementation model
• Reduce cost of ownership for the short- and long-term
• Obtain comprehensive streamlined front- and back-office administration for life and/or health insurance carriers
• Be innovative to support growth opportunities and respond to market demands
• Solve regulatory compliance on time (e.g., on the health side – ICD-10 compliance).

Additionally IBM GIAS, through the flexibility of its SOA environment, fully integrates to the various tools and applications available within the IBM insurance software stack of business application assets or to Business Partner systems.  Examples are integration to provide straight through processing for new business to policy issue with electronic forms and signatures; underwriting; document assembly; fraud checking; dashboards, reporting and analytics; and much more.  This integration allows an insurance organization using IBM GIAS as its core insurance solution to tailor an end-to-end enterprise solution for its insurance operations and business objectives.  Additionally, IBM GIAS seamlessly integrates to special GIAS Web portals for secure and anytime access to data and specific activities for the various stakeholders and audiences using the system.