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DynaFront Systems Berhad: Streamlining Insurance through Value-based Care
“For a business to remain relevant in today’s era of rapidly evolving information technology, leaders have to take action and make investments that enhance operational efficiencies, price regulation, and customer-centricity of their enterprises.” This quote by Chan Eng Lim, founder and CEO of DynaFront Systems, precisely illustrates the significance of innovative solutions that drive better decision-making and business objectives. According to Eng Lim, tech-based solutions that leverage artificial intelligence can help healthcare providers cope with escalating medical costs by preventing access to unauthorized claimant or over-charging of medical expenses by hospital. Therefore, DynaFront Systems is continually seeking out latest tech-based solutions that incorporate emerging technologies such as blockchain and more to aid enterprises in providing online transactional services to their policyholders or allow reduction in future premiums to policyholders that have maintained a healthy lifestyle during cover periods.
“Currently, we are driving the utilization of artificial intelligence and robotics automation in our established “Precentia” portfolio to help clients remain on top of the emerging technologies,” says Eng Lim. DynaFront System’s PrecentiaLife—a individual life administration system— backend solution aids customers in the management of end-to-end processes pertaining to conventional life insurance products such as the whole life, endowment, and investment-linked insurance offerings. Similarly, the PrecentiaTakaful backend system manages Takaful family insurance plans while PrecentiaGroup handles group insurance business, covering both employee benefit and worksite marketing.
At the same time, PrecentiaCMS allows members of the field service force to effectively manage daily activities, track continuous professional development hours, and facilitate the achievement of key performance indicators that maximize commission amount. “On the other hand, PrecentiaCMS leverages AI to assist top management, and business development teams implement strategic and tactical decisions that ensure the achievement of mid to long term business objectives,” adds Eng Lim. The highly scalable, modular, parameter-driven, and objected-oriented nature of DynaFront’s system enables clients to develop and deploy products at a rapid pace. In one instance, the Malaysia-based company offered PrecentiaLife’s core backend system to a client in an effort to help them expand their services to numerous delivery channels. And by leveraging DynaFront System’s extensive industry expertise and resources, the client was able to meet the needs of their customers and provide fully-integrated financial services.
Delving deeper into the competencies of DynaFront’s solution set, Eng Lim elaborates, “Our group life administration system can upgrade benefits of members and monitor real-time updates of inpatient and outpatient medical expenses to prevent over-claiming of compensation entitlement.” Furthermore, with DynaFront’s innovative group insurance system, clients can determine the type and exact quantity of prescriptions needed for the administered treatment; understand the number of medical leaves to be given to claimants and offer real-time updates for the incurred medical expenses. The solution suite also has a built-in tracking and escalation mechanism for ‘guarantee letters’ and discharge issuance documents. In addition, DynaFront’s frontend capabilities, which interface with core backend systems, allow clients to support and streamline tedious administrative processes and maximize ‘return of effort’ for the on-field workforce via worksite marketing.
Looking ahead, DynaFront aims to become an innovative and disruptive enterprise by leveraging its 23-year experience in the industry and R&D focused toward the adoption of the cutting-edge technologies. From a geographical standpoint, the company is planning to grow out of its current Southeast Asian markets into Northeast Asia. To conclude, Lim reaffirms the ethos of DynaFront Systems, “DynaFront is looking to create smart and long-term partnerships, and add value to client organizations by leveraging its domain knowledge to help them grow their businesses.”