Home -- Your Industry -- Financial Services
ProModel Simulation Solutions for Finanical Services
"In the first year the bank has saved $5.6
million in equipment and has realized a substantial saving
in labor cost."
- Bill Adams, FleetBoston
ProModel advanced simulation technology can be applied to any
transaction-related financial services process to reduce cost,
increase productivity, accelerate cycle time and improve customer
service. Innovative market leaders including American Express,
Chase Manhattan Bank, FleetBoston, Union Bank of California and
Prudential Insurance, have already implemented ProModel financial
service solutions
Banking
- Item/Check Processing (Day 1 & 2)
- Deposit Operations (Lock box, ATM, Return Teller)
- Branch Operations
- Mortgage Origination/Servicing
- Refinancing
- Lines of Credit
- Call Centers
- Shared Services
- Credit Cards
- Currency Operations
- Auto Loans / Leases
- Prime/Sub-Prime Markets
Key value-add applications for ProModel solutions in banking are:
Site Consolidation Planning - evaluate impact of proposed
site consolidation plans and load balancing strategies. Test
and refine "standardized" processes prior to rollout.
Six Sigma Support - dynamic simulation modeling supports
Six Sigma's DMAIC (Define, Measure, Analyze, Improve, and Control)
methodology. By enabling rapid hypothesis testing and experimentation,
simulation increases the ability to identify high impact opportunities
for customer service improvement and cost reduction.
Channel Analysis - identify unit cost to process transactions
via different delivery channels.
Staff Scheduling - align resource capacity with expected
demand to minimize personnel expenses while satisfying service
level standards.
Disaster Recovery Planning - experience crisis scenarios
and test alternative contingency plans in a safe, risk-free environment.
Proactively stress-test your processes to identify process "break
points" and identify mitigating strategies.
Insurance
In insurance, applications for ProModel predictive technology solutions include:
- New Policy Issuance and Underwriting
- Account Servicing (remittance, renewals, policy changes)
- Claims Processing
Our key value-adds in insurance include:
LAE Reduction - identify key expense drivers and redesign
processes and decision rules to takeout cost and improve subrogation
effectiveness. These actions will enhance the Technical Result.
Customer Service Improvement - expedites policy issuance,
change requests, and claims settlement processes, and schedule
staff to achieve desired service levels.
Disaster Recovery Planning - experience crisis scenarios
and test alternative contingency plans in a safe, simulated environment.
Risk Mitigation - reduce risks associated with process
changes by first testing in a controlled, virtual environment.
Increase confidence that changes will have the desired impact/benefit
before costly implementation.
Policy Lifecycle Modeling (underwriting, account servicing, claims handling)
- conduct comprehensive analysis of the entire policy lifecycle. By better
understanding their policy-related expenses, carriers can more accurately set
premiums.
Policy Lifecycle Modeling - (underwriting, account servicing,
claims handling) - conduct comprehensive analysis of the entire
policy lifecycle. By better understanding their policy-related
expenses, carriers can more accurately set premiums.
Securities
- Broker/Dealers
- Global Custodians
- Infrastructure Service Providers
- Foreign Exchange
- Global Trade
- Commercial Paper
Prototyping & Compliance Assessment - determine
if processes and target operating environments conform to T+1/STP
guidelines. Identify critical processing paths, bottlenecks,
and delay points within trading and settlement processes.
Project Portfolio Analyzer - prioritize portfolio of
planned IT and process initiatives based on rigorous cost/benefit
and ROI analysis.
Predictive Modeling & Analysis - quantify the expected
impact of frequent but uncontrollable external events (e.g.,
monetary policy changes, currency devaluation, holidays) and
develop proactive management policies. Assess the trade surge
capacity of the baseline future environment.
Site Consolidation Planning - evaluate impact of proposed
site consolidation plans and load balancing strategies. Test
and refine "standardized" processes prior to rollout.
Disaster Recovery Planning - experience crisis scenarios
and test alternative contingency plans in a safe, simulated environment.
Proactively stress-test your processes to identify process "break
points" and identify mitigating strategies.
CONTACT US |
