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The Key challenge for service industries especially (finance, healthcare and Real estate) is the ability to provide transparency to clients across their business process. Information Technology plays a critical role in this process.
However, with IT also comes the challenge of being able to manage the security around assets. The logistics sector has done a great job on this front. Imagine the ability to track a packet on FedEx as it travels transatlantic fifteen years back.
At Karvy, we have developed some interesting frameworks for workflow management that deliver the following advantages:
- Provide transparency across a business process
- Provide actionable analytics for process improvement
- Scalable architecture for aggressive roll out of a solution
A few examples of where these platforms can be leveraged are in areas like loan origination, mortgage modifications, life settlements and reverse mortgages.
Imagine a scenario where a single family home owner would like to get his mortgage modified to avoid foreclosure. Time is of essense and information is vital. Karvy Workflow solutions service such needs and also deliver a 30% cost savings to the mortgage processor.
Our solutions are today used by clients from the following sectors:
- Life Settlement Providers
- Reverse Mortgage Providers
- Insurance companies
- Mutual Fund companies
Please get in touch with us today if you would like to know more about these solutions.
Life Settlement Services:
Karvy is the Outsourced Case Valuation provider of choice for the emerging Life Settlement Industry. Over the past three years Karvy has been working with the leaders in this industry to provide services for Life Settlement Broker, Life Settlement Producers and Life Settlement Funders.
This industry has been subject to a lot of media in recent times and the key concern for the Life Settlement Producers is enabling greater transparency in the system and also reducing the time taken to process a transaction. To this end, Karvy provides a solution platform that delivers the following results:
- We will reduce the time for Case coordination by 30%
- We will deliver a platform to drive online submission of cases
- We will cut your transaction costs/case by 30%
In addition to providing case management services, we also support clients in areas like Provider/broker database management and case management.
Our expertise in Policy Valuation and Analysis enables our clients to reduce their internal cost to manage expensive pricing platforms. We are also in the process of building actuarial support to enable end to end transaction processing through Karvy. We believe Outsourced Case Valuation will give the Life Settlement Industry players the ability to scale rapidly and focus on front-office capability development.
Third Party Administration-Enabling Efficiencies:
The TPA's play a key role in the Insurance industry. They form the vital link in servicing the industry business process across Payors and Providers. In North America, our clientele is mostly focussed on TPA's in the Healthcare domain. These are challenging times in the US Healthcare system. The cost of healthcare is skyrocketing and there are a record number of Americans who are not in a position to avail Provider services. The care givers are also strained by lack of field staff (nurses) and equipment. The amount of paper work involved in the process does not help the cause either.
Over the last five years, Karvy has build a service offering that specifically focusses on Healthcare TPA's. We are equipped with HIPAA compliant processes and understand the HCFA 1500 and UB 92 Processing. In addition to this, we are equipped with BS7799 and ISMS certifications to ensure the protection that is needed for confidential information.
Our Services:
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Policy Acquisition
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Application Processing (Data Entry)
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Policy Technical Help desk
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Underwriting Support
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Insured Demographics Documentation
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Medical Record Management
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Master Data Management (Provider and Payor)
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Policy Administration
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Policy Enrollment
- Provider Verification
- Claims Fulfillment
- Health care Claims Processing
- HCFA/UB92 Processing
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