We transformed our client’s fragmented enterprise architecture & ensured transparency in the business process.
About the Industry
The insurance sector has welcomed the digitization phase with open arms. The "digital service" business model has brought about a revolutionary shift to the insurance industry. Be it a personalized premium or usage-based policy cover, analytics and automation have made a positive impact at the nuclear level.
With a transformed business model, the reimagining and personalization of products and services have become a necessity. The legacy solution system has been taken over by analytics-driven approaches. The claiming of insurance is taken care of by AI-enabled solutions. Similarly, advanced analytics and big data have proactively gained actionable insights from obtaining data exhaustively. In a recent trend, partnering with tech giants has simplified and improved the operational aspects of the insurance business.
About the Client
Our client is a Singapore-based leading insurance service provider organization. Though based out of Singapore, their presence in New Zealand & Australia is noteworthy. As part of their business strategy, our client is venturing into the areas of AI & Analytics-driven insurance solutions.
Being data-driven, managing the global financial & insurance operations with legacy solutions does not generate meaningful results. Being inclined towards analytics, the company is getting more focused towards an integrated solution that would manage financial and insurance-related tasks more efficiently. The company is looking forward to digitally transform the business landscape with a robust & integrated data solution.
The Business Challenges
The traditional way of dealing with business problems fails in the long run Our Client faced similar challenges. The roadblocks were as follows: -
Predicting the possibility of fraudulent incidence occurrence through smart solutions. About the...
February 14, 2020
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