WealthServ Insurance
WealthServ Insurance offers end-to-end, any point-to-any point data exchange between and among product providers and distribution agencies – in any format, using existing systems and infrastructure.
WealthServ focuses on serving clients. We believe everyone from retail customers to provider organisations is a client. Account holders are clients of agents who are clients of brokerages that are clients of distributors that are clients of carriers, fund providers or banks. This diverse client chain creates the fragmentation of information and processes that WealthServ remedies. Each client enjoys better advice, service and accountability.
The Information You Need, When You Need It, Without the Extra Work
Institutional Web sites provide business and commissions data, but a single institution's data yields full value only when consolidated with data from other sources. Before WealthServ, you had to bookmark sites, remember passwords and interfaces, then gather and consolidate this data.
WealthServ automates information gathering and consolidation, providing up-to-date data when and where you need it.
The consolidated data appears in your system ready for use. Spend your time with associates and clients – and increase revenues.
Benefits To Your Business and Your Industry
- A complete solution for all participants in the product provision and administration cycle
- Better service and profitability
- Accommodation of all data formats allows consolidated data exchange among multiple manufacturers and distributors
- Flexible, inexpensive cost structure does not require upgrades to current systems
- Increased efficiency and improved service promotes proper servicing of existing business, timely new business initiation and product delivery, and greater satisfaction for all clients
- Secure compliant communication between and among product providers, distributors and support services means fewer security problems, improving trust and relationships
- Efficient administration of existing business improves business retention and word-of-mouth
- Support current infrastructure and ensure seamless functioning over time
WealthServ Is Simple Reliable, Powerful
- No need to change infrastructure
- WealthServ provides all software
- Access is through a secure Internet connection
- Reduce or eliminate retyping or manual data entry with a single data feed in the right format for existing institutional, agency or back-office systems
- Link agency systems to financial institutions and insurance carriers with integrated data exchange in real-time, in any format – XML, Mutual Fund Data Standards, Legacy systems and others – consistent with existing AGA/MGA agency management or back-office systems
- Production cycle is cost-effective because business processes and product administration is efficiently managed
- System adapts to your needs, responds quickly to changes by adding functionality – not by requiring you to purchase software add-ons
- Preserve your investment in existing systems and manage evolution by paying only for the functionality and WealthServ components you need
- Get easy access to most recent product applications and forms, increasing "in good order" business
- Improve client service by efficiently providing consolidated data (unit values, policy investment valuations, pending requirements, paramedical order status, policy information, etc.) to distribution agencies
WealthServ Features Increase Productivity, Simplify Production Cycle
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WealthServ Fulfills EDS SOLCORP's "C5" Essential Business Priorities Vision
WealthServ uses "C5" business priorities to meet your needs and your clients' needs, increase revenues, save time and money.
Client Management
Clients are the reason businesses exist and prosper. Ensure clients are well informed and well served. Better understanding of clients creates sales opportunities. Collect client data, build stronger relationships. Spend less time preparing for client meetings and more time with clients. Build client confidence.
Consolidation
Information is the life force of business. Ensure that everyone who needs information from multiple sources has all the accurate information they need – when needed, brought together in one place, ready for use. Consolidate information from multiple sources. Easily manage many types of products. Establish a single-system foundation for all your business that grows with you. Reduce the cost of consolidated reports.
Connectivity
Unhindered communication is essential to efficient business processes. Ensure there are no obstacles to the flow of information between and among people, organisations and technologies. Reduce the cost of phone, fax and e-mail contacts via supplier call centers. Respond faster with real time information about new and pending business, service changes, commissions, and reporting to clients, agencies, and authorities.
Compliance
Regulatory standards and industry compliance practices constantly change and become increasingly complex. Ensure that business systems know the rules and help businesses follow them. Establish comprehensive audit trails. Maintain accurate license and registration tracking. Manage break points, churn, order accuracy, AML, and SOX traceability. Reduce or eliminate costs of remedial action.
Compensation
Remuneration is one of the reasons people engage in business. Ensure that everyone due payment is paid quickly, accurately and fully. Know the exact status of compensation at all times. Control net commission payments, charge-backs and expense tracking. Establish customizable, flexible commission structures. Support payment of commission bonuses and promos. Retain the best people by building trust.
EDS SOLCORP C5 Applications Deliver Measurable Results
Reduce Costs
Improve productivity. Reduce "administrivia" and assistant costs. No-cost software upgrades. Lower POS costs. Reduce re-work costs. Reduce printing, fax and courier costs. Avoid or defer conversion costs. Reduce transaction costs. Avoid expense of a custom solution. Avoid expense of special links to partners systems. Insurance carriers, banks, trust institutions can save 75% of processing costs.* Brokers, agents can save 50% of processing costs.*
*Based on independent research among EDS SOLCORP customers.
Increase Revenues
Higher business volumes. Better tracking and administration. Higher business retention through better service. More accurate and transparent new business processing.
Increase Client and Client Service Staff Satisfaction
Faster, more personal service. Better client service staff performance and satisfaction. More complete and accessible client information.
Simplify and Reduce Cost of Staff Training
User-friendly interfaces and forms. Existing systems and processes.
Protect Communications
Fully encrypted messaging. Fully audited communications. Tagged to specific business.
Ensure Security
All business via secure Internet connection. Organisations control own data management. Comprehensive audit trail. Every process hosted, managed and operated by EDS. Better compliance.
Maintain Full Flexibility To Grow and Adapt
Organisations control own data location. Age and technology of existing systems are not barriers to growth.
Grow Business Not Technology Costs
No changes to existing systems, infrastructure. Online platform accommodates current needs, evolves for growth.
