Insurance

Verticals Insurance

Insurance

The Insurance industry copes with a number of challenges – from dealing with large amounts of data to regulatory changes and risk management. These growing pressures often necessitate a business model transformation. MindCraft helps you re-invent your business model by adopting the right technology suitable for your business needs. To help with this process we offer a range of solutions and services. MindCraft’s Insurance solutions have been created to meet the complex and varied reporting and analytics needs of the industry and to enables transformation of raw data into meaningful information that provides effective business insight and facilitates decision-making. Reporting requirements of different internal and external communities like sales channels, operations teams, planning teams, accounts team, third party agents, etc. are handled through sophisticated dashboard that feeds off a comprehensive Insurance Logical Data Model.

Learn how our Insurance solutions can benefit your organization

Insurance Services

Centralized enterprise data store for all upstream and downstream data integrations
Development of solution that caters to Customers, Advisors, Employees and third- party distributors providing access to oversee transactions to mitigate risk
Implementation of scalable and secure callable interfaces to core systems. Disparate services are assembled in a single catalog
Implementation of SOA from a simple ESB-based service gateway to a complex event-driven or change-log driven integration
Implementation of workflow and process automation solutions in various functions like new business, payments and customer service
Configurable Data Entry forms for various products with split screen & zoning facilities
Back to back SLAs for management of systems software that spans across multiple middleware and database stacks

Insurance Solutions

Process automation for new account opening including processes like initiation, data entry, document verification, de-duplication etc
Interactive dashboards covering different KPIs used by the Insurance industry. Provides accurate MIS on daily / monthly / quarterly / yearly basis
Enterprise-wide business risk assessment dashboard for key risk metrics. Captures risks across business functions, geographies, channels, time-periods & products
Automated process for managing & tracking claims right from claim intimation to adjudication / processing, approval and finally to settlement /payout
System that provides front line sales managers a structured and clear career path using online goal sheets
Lead management system covering the entire life cycle of a lead concluding in either conversion, dropped or lost statuses
Tool to generate benefit illustrations for end customers prior to buying an insurance policy
A solution that enables verifying and mapping customer signature on a policy servicing request with the signature on the application form
A complete solution for underwriting, covering all aspects including auto underwriting, medical underwriting and financial underwriting.