Case Studies

Client Pain-point

Recent amendments to regulations and regulatory reporting requirements have made it extremely difficult for the client to manage revenue reconciliations, revenue tracking, operational tasks, contractual obligations etc. in the conventional way and hence require an automated tool to takeover these responsibilities.

Client Vision and Objective

An insurance platform that will automate various regulatory reporting and operational pain-points that are currently being managed manually. The platform has to seamlessly integrate with the existing legacy systems to provide a complete omni channel experience to customers and employees.

Client Requirements

The client requirement was to build a fully integrated platform that will provide them with the following features:

1. A front-end that allows the distributor to fully automate the customer onboarding and sales process including need analysis, risk profiling etc.
2. An application management middle layer that communicates with the insurer’s and distributor’s systems and manages all the validity checks and other approval requirements until a policy is issued.
3. A back-end layer that automates all the operational tasks including Revenue calculation, Reconciliation & clawback, Incentives, Accounting etc.
4. Claims management and reporting tools.

Outcome

The platform went live in 2021 and received widespread acceptance from users including customers and employees. The automation has helped reduce reporting and operational burdens and has improved employee productivity significantly.