Insurance

Industry consolidation, regulatory pressures, shifting demographics and shrinking margins have increased pressure on enterprises in the insurance industry today. Additionally, tech-savvy customers demand high-tech solutions and self-service via the Internet, which in turn increases demand for a unified customer experience across diverse sales and service channels. The need for innovative product development, streamlined processes and business agility is great than ever – precisely the strategies that TCS can help you implement.

CLIENT CHALLENGES

• Extended cycle times (especially for new products)
• Pressures to leverage existing assets and investments due to reduced TCOs
• Changing partner landscapes with demanding customers and stakeholders who demand better corporate performance
• Disparate & cumbersome legacy systems that hinder efficient system integration with multiple trade partners to provide seamless customer/partner self service experience
• Increasing need for streamlined underwriting and claims management for cost reductions and improved operational efficiencies
• Need for continued innovation to retain the market position.
• Need to Improve self service capability at all sales and service touch points
• Need to streamline the development, deployment & maintenance process
• Enable IT to be more responsive/agile to business

WHAT TechOpera PROVIDES

• A dedicated insurance practice with a powerful combination of domain experts and techno-functional consultants who provide the right mix of experience and expertise required for building smart and innovative solutions for our insurance clients Key Service Offerings for the Insurance Industry (execution experiences in all these areas for our global insurance clients)
• ITE Services - ADM, Re-engineering and Forward Engineering, Migration, Application Consolidation, Package Implementation, Systems Integration, Infrastructure & Storage Services, BPO/KPO Services, Post Merger Integrations
• Consulting – Strategy Planning, Architecture Consulting, Package Evaluation Services, BI/SOA/BPI/BPM Assessment & Consulting, Roadmap definitions, Application Rationalization/Consolidation studies
• Products Based Services – Products to cater to insurance value chain
• Assets & Offerings Based Services
• Innovation Oriented Services – Dedicated Insurance Innova Lab, a structured approach and a framework
• Solution expertise in specialized areas, including business process re-engineering, rule and product engine configurations/customizations, pricing sophistication, automated underwriting, risk modeling and portfolio management, business transformation in the areas of claims, underwriting, distribution management etc