Fraudsters are getting smarter in their attempts to evade the insurer's radar. As a consequence, money flows to the wrong people and thus combined ratios are under pressure. Insurance companies must detect insurance fraud before claims are paid. The best way to reduce the loss ratio is to increase the chances of fraud detection at claims and limit false positives to a minimum.
In order to remain competitive in the market, for example by a fast introduction of new insurance products, the legacy systems have to be modernized or replaced sooner or later. For this task, three alternatives were introduced with their advantages and disadvantages. All alternatives rely on a successful IT-Project.
In order to help them to succeed in time, budget, and scope, the professional application of different Requirements Engineering techniques are a key success factor.
In order to help your IT projects to succeed in time, budget, and scope, Requirements Engineering is a key success factor. Professional RE employed in a project or compa-ny-wide relies on trained Requirements Engineers. With increasing degree of maturity the use of IT tools built for Requirements Engineering become a critical factor in order to fully profit from automation aspects to save further costs and time.