LONDON--(Marketwire - Oct 23, 2012) - TIBCO Software Inc. (NASDAQ: TIBX) has been selected by NFU Mutual, the UK's leading rural insurer, to maximise claims management efficiency and enhance its award-winning customer service.
The multimillion pound project will help NFU Mutual to streamline claims management processes across its Regional Service Centres. The automation of certain aspects of the claims handling process is expected to improve customer satisfaction even further by keeping members better informed about the status of their case.
NFU Mutual's award-winning proposition is built on its understanding of the needs of those who live and work in the countryside, offering extensive cover at a fair price, backed up by a first-class service. The insurer looks after almost 1 million members, serviced by over 300 local branch offices and a call centre service, with a retention rate of nearly 90 percent.
As part of its commitment to continual improvement, the company is moving from paper to electronic files with the aim of consolidating all claims documentation (paper, email and voice) into one place, helping to improve file storage and retrieval as well as greater case visibility.
Based on previous experience, NFU Mutual felt TIBCO's approach best answered its business and IT needs. TIBCO is underpinning the project with its TIBCO Spotfire analytics platform, TIBCO Nimbus Control and TIBCO ActiveMatrix BPM solutions. These will support NFU Mutual's move from paper to electronic processes and help make case information more accessible across the business.
Tim Mann, CIO at NFU Mutual, said: "We're proud to win awards for our service as voted for by our members, but we're not resting on our laurels. To remain at the top of our game we consistently review products and processes.
"Working with TIBCO will help streamline claims management processes, offering greater control and access to management information across the business. These developments should help keep our agents and customers better informed during the progress of a case, helping to enhance the award winning service our members cherish and expect from NFU Mutual."
Mann continued: "It became apparent quite early on that TIBCO understood our business and IT challenges. Their software tools are very impressive and we are also reassured by the engineering support from the US and India. I am confident the partnership will provide us with the right tools to improve efficiency and enhance customer satisfaction."
Raj Verma, CMO at TIBCO, said: "We are delighted to be helping NFU Mutual to enhance the control and visibility of its claims data."
He added: "By having access to the right information, at the right time, and in the right context NFU Mutual will be able to improve its real time decision making process and gain what we call the two-second advantage over it its competition. But most importantly of all it will improve the claims experience for NFU Mutual customers -- helping the company to build upon its already award winning service levels."
Once complete, it is envisaged the project will provide NFU Mutual with numerous service, cost and business improvements, including: efficiency savings through the elimination of paper files and consolidation of information into one place -- electronic file, provide network branch offices and regional service centres with greater control over the claims processes and access to management information, and enhance customer satisfaction.
"Eliminating paper from claims handling processes is a sure-fire way to achieve a massive efficiency and quality improvement for any insurer," said Neil Ward-Dutton, Research Director at MWD Advisors. "Using a process platform to at the same time improve self-service and customer feedback channels is a very sensible strategy in today's environment, when customers' service expectations are increasingly set very high by their experiences elsewhere in the online world."
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's optimising claims, processing trades, cross-selling products based on real-time customer behaviour, or averting a crisis before it happens, TIBCO provides companies the two-second advantage™ -- the ability to capture the right information at the right time and act on it pre-emptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes and applications in real time. Learn more at www.tibco.com.
TIBCO, two-second advantage, Spotfire, Nimbus, Nimbus Control, ActiveMatrix, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
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About NFU Mutual
NFU Mutual offers a wide range of products, including general insurance, life, pensions and investments. These products and services are delivered through the agency network, as well as through a direct sales and service centre.
With over 300 offices located in rural towns and villages throughout the UK, NFU Mutual has become part of the fabric of rural life and remains committed to serving the needs of people who visit, live or work in the countryside.
NFU Mutual is The National Farmers Union Mutual Insurance Society Limited (No. 111982). Registered in England. Registered Office: Tiddington Road, Stratford upon Avon, Warwickshire CV37 7BJ. A member of the Association of British Insurers.