Case Study at a Glance:
- Industry: Insurance: Personal Auto
- Company: Under NDA
- Company Size: 11-50 employees
- Site: Under NDA
- Timeline: Modernization Insuretech Platform in 1.5 Years
Key Product Parameters for System Improvements
- Conversion from a large monolithic application to a service-based architecture
- Implementation of a new, streamlined workflow for underwriting
- Implementation of an efficient workflow for claims
- Diary management system for agents, employees, and management
- Quick search for claims
- Provide analytical data to Directors
- Ability to quickly add custom rules as per company and government requirements
- Ability to audit the system as per government norms
- Multilevel Dashboard for Managers and Directors
- Ability to add/edit discounts to the Insureds
- Ability to add, edit, send customized letters to Insureds
- Implementation of multiple payment installments options
- Implementation of alerts for management, agents, and customers
- Quick search for policies, people, phone, driving license, underwriting, claims
- Integration with payment processing systems for Credit/Debit cards and ACH
- Credit Check API integrations
- 3rd party Rater integration
- Auto data, CLUE report integration
Solution Software & Application
- Time-to-market: Quickly implement the new government (Insurance Regulator) mandate.
- Tailor: the policies to the needs of the Customer.
- Simplicity: A single platform supporting wide auto insurance activities such as:
- Hassle-free onboarding of Agencies & Agents
- Reliable Rating Engine
- Simplified endorsement workflow that supports speedier binding & issuance
- Efficient claims workflow and timely payment
- Real-time usability , management reports for financial visibility
- Interoperability: Multiple third parties are now connected by using API integration.
- Scalability: The tenant and message-driven architecture ensure scalability, duly supporting the rapid growth of the business, while keeping the commute costs in check.
- Agility: The company can introduce new insurance products without affecting the existing system.
- Compliances: Quick adherence to government mandates and timely reporting.
- Customer benefits: Improved Agent experience for quote, binding and issuance. A cost-effective, on-time claim settlement system making claims simple.
About the Company:
We bring in a combination of business expertise and industry insights, along with innovative technologies to provide specialized skills and tailored solutions to our clients.