External Party Integration Services – EPI
Real-world insurance problems – that’s what we solve here at MFX. We do this through our External Party Integration Services – EPI. MFX’s (EPI) service is about bringing together data from all of the carrier’s Program Administrators MGAs, MGUs and TPAs into an edited, accurate, integrated, single repository of data for use by underwriting, claims, finance, actuarial and management for reporting, analytics, extracts and queries.
MFX’s EPI services begins with our insurance professionals conducting a requirements definition phase this is where the design of the data conformance approach, refinement, and governance with error correction for policy and claims data occurs. The final outcome; a common, consistent platform for data storage, data feeds, reporting, and analysis for your business through external parties, and an integrated automated process for ongoing data feeds. MFX’s External Party Integration Services works by leveraging our years of experience in working with insurance carriers and all types of external party data.
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Insurance Data Hub – IDH
MFX’s Insurance Data Hub – IDH is at the center of understanding and organizing the data. It is a proprietary, Insurance aware, rules driven Data hub where the data is loaded and processed. The data is edited, validated and processed against over 600 insurance rules. The data is then integrated into a single repository through MFX’s Reporting Data Mart for use by all the business functions within an insurance carrier for reporting and analysis.
MFX Value Proposition
The service / solution is a result of our quest to free up insurance carriers resources, save time, and cut costs. We achieve this by enabling insurance carriers the ability to directly import data from various external party’s such as managing general agents, third-party administrators, and business partners etc. MFX’s External Party Integration service offers a unique combination of services with software being delivered on a SaaS basis. Our goal is to offer real value to insurance carriers by allowing them to concentrate on their core business concerns without distraction.