Today’s software environment leans heavily toward cloud-based, vendor-hosted applications. However, providers that offer only that kind of solution limit both the flexibility and options available to their clients.
Internet-based applications that can be either vendor- or client-hosted provide the most flexibility and deliver a claims solution that meets the needs of clients. That’s because while some organizations have decided they can generate better returns by focusing on their core competency—claims handling—other organizations still have valid reasons for wanting to keep their system behind their own firewalls.
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SaaS (software as a service) is a delivery model in which a vendor supplies software on a subscription basis for a set period of time. There is widespread confusion about what SaaS means. Namely, there’s a misconception that SaaS is the technology rather than a method of delivery for a specific technology solution.
It’s important to remember that the SaaS delivery model can accommodate both client-hosted and vendor-hosted solutions. Giving clients this option (as the iVOS 5 claims-administration system does) provides claim organizations with options to suit their specific business model.
When an organization is hosted externally, there is a heavy reliance on the external party when it comes to functionality, security, and long-term operation. On the other hand, self-hosting provides total access to all files, data, programs, and servers that the company owns.
Even with client-hosted systems, today’s claims software can still be cloud-based and accessed via web browsers on multiple devices.
Despite the prevalence of vendor-hosted software, claim organizations in particular often have compelling reasons for wishing to self-host. With stringent privacy regulations, customization, and a changing claims industry, there are many reasons why an organization may want to be self-hosted. Flexibility is the key, and vendors committed to client priorities will deliver options for self-hosting or hosting through the vendor.
Advantages of self-hosting include:
Ventiv’s iVOS 5 is an innovative claims solution that’s appropriate for insurtech. iVOS 5 enables claim organizations to build a tailored infrastructure that meets each specific need.
Whatever the client’s choice, Ventiv Technology’s fully formed platform delivers claim, risk, and safety solutions. Underpinning the various solutions that iVOS 5 offers are standard and configurable capabilities for applications, packages, products, and solutions. These capabilities help your claims administrators make better decisions with full control of the workflow, process, and result, saving costs and improving the client’s bottom line.
May 23, 2018
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