Straight Through Processing (STP) is a seamless electronic process that encompasses the entire life of a business transaction, end-to-end from receipt through to delivery.  The goal of STP is to increase efficiency by eliminating manual processes, costly errors and non-automated communication channels.  By streamlining portions of the process in well-planned and well-executed phases, Insurers will be able to slowly implement aspects of STP without completely disrupting their operating units and normal business processing.  This in turn will entice independent agents and other alternative distribution channels to work with them.  

Edgewater Technology has been working for over 15 years within the Insurance industry to assist organizations with their information technology needs and to better position them for continued growth and a competitive advantage.  Edgewater can help Insurers realize their STP goals by identifying functions for process improvement such as:

• Analyze internal processes and systems;
• Automate manual processes;
• Automate payments;
• Integrate internal systems; and
• Eliminate batch and nightly processes.     

To learn more about Edgewater’s Claims and Underwriting Workflow expertise and capabilities, call us at 800-410-4014 or email makewaves@edgewater.com.