Corporate Modelling and The Life & Annuity Group (TLAG) to launch OpX solution in the US
Corporate Modelling, the workforce management technology provider based in Glasgow, Scotland, announced the launch of its innovative technology solution in the US market. Following the success of the OpX solution at two major European Insurance Outsourcers, which has led to a 15 per cent reduction in overall operating costs, Corporate Modeling will now be offering the technology to US companies via its partnership with Hartford, Connecticut-based The Life & Annuity Group (TLAG).
The OpX Project was initiated in 2009 to design, build and implement a Transaction Management Solution to manage the throughput of policyholder transactions using a factory based end-to-end model, ensuring light touch, first in first out and one and done principles.
The solution was awarded the 2013 WfMC Award for Excellence in BPM and Workflow at the iBPMS Expo.
Graham Twaddle, CEO at Corporate Modelling comments,
“We are very excited to be launching OpX in the US market. The US is currently experiencing significant growth in the Outsourcing market as Life and Insurance companies begin to realize the need for streamlining front and back office functions and the benefits of outsourcing this administration to third parties. Our work with European Insurers highlights the power of technology to make the insurance back office a more efficient and cost-effective function – something we plan to replicate in the US. We are particularly looking forward to launching OpX at the 2014 ACORD LOMA Forum as this is one of the most prestigious events in the Industry.”
Rob Mattioda, President at The Life & Annuity Group (TLAG) adds,
“OpX is the most advanced Operational Management and Control system for Insurers we have ever seen. Its real time dashboards showing work completed and work required to complete, with skills based work allocation, brings the factory model to back and front office administration. Having seen the benefits achieved by European companies, we felt compelled to bring this offering to the USA.”