Solutions
Overview
Designed and built by a multinational team working in the US, Latin America and Asia, Pharos is a truly global solution. Aimed at Companies looking for either a full package with complete functionality or certain components to be integrated with the Company’s existing IT applications. This can be in a single territory or in different territories or across the globe, operating in one or more business lines.
Pharos has been designed to enable Insurance Companies meet the modern changing marketplace with a modern response to key business drivers including the following:
- Fast to market:new markets, new products, new distribution channels
- Fast adjustment to market changes, adjust how products behave
- Achieve significant cost reductions
- Increased revenues as a direct result of being fast to market, having higher service levels and increased customer/intermediary satisfaction
- Increased business control including improved risk management and financial control
- Creation of a new business model/organization (e.g. white labeling and rebranding) via a choice of different business models including the provision of an application service provider (ASP) with software as a service (SaaS) or business process outsourcing (BPO)
Pharos has been built using industry standard methodologies and has a robust reusable framework based on Java (JEE5) and other standard leading modern technologies. Pharos is a configurable insurance and reinsurance application, with the ability to operate simultaneously across multiple countries and multiple languages, being reliable, scalable and productive for small, medium and large insurance organizations.