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Practice Overview
In the post-recession scenario, insurance companies are faced with volatile investment returns, prolonged soft market conditions, uncertainty of pending government regulations and mounting underwriting losses. Cost reduction/improved efficiencies, enhanced customer service and innovative ways of reaching new customer segments have become top priorities for the insurance industry. It has led to a rethinking on the fundamental role of information technology in delivering real business outcomes. CIOs have to make technology investments that will help bolster long-term growth while at the same time gain efficiencies and cut costs in the short-term.
Some of the key challenges and opportunities for insurance carriers include:
- Legacy systems modernization to improve the agility of IT in supporting business needs
- Developing a single view of customer by integrating customer data fragmented across multiple systems
- Drive operational efficiencies and reduce cycle times through business process automation
- Integrate analytics with social media in developing actionable customer insights
- Leverage the mobility platform in providing a better service to customers and assisting agents/distribution partners
- Streamline underwriting and claims management for improved cost efficiencies
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Why Mahindra Satyam
For over a decade, Mahindra Satyam’s Insurance Practice has been helping insurers adapt to change and prepare for the future via unique, powerful solutions than span across the insurance value chain. |
- We leverage the strength of our in-house consulting groups—CitiSoft and Bridge Strategy Group—in helping customers maximize their return on investment (ROI) in IT assets and optimize performance
- Partnering with Tech Mahindra and CanvasM, Mahindra Satyam is at the fore-front of the mobility-led transformation in insurance, uniquely positioned to help enterprises adapt to the emerging ecosystem
- Offer verticalized solutions in the latest technologies such as:
- Predictive Analytics
- CRM
- Enterprise Mobility & Social Media Integration
- Business Process Management
- Enable claims processing transformation through a hosted SaaS platform which integrates document management, claims workflow and analytics
- Experience in executing managed IT+BPO engagements based on outcome-based pricing models for large insurers
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Business Value
Built around deep industry and technical expertise, Mahindra Satyam can help your IT organization deliver critical business value including: |
- Realizing cost savings through better fraud detection in claims
- Improving risk evaluation and pricing through predictive analytics
- Improving distribution channel performance by targeting right products to customers through customer analytics
- Achieving substantial reduction in new business processing through business process automation
- Restructuring operating costs with an integrated IT+BPO managed services model with outcome-based pricing
- Reducing marketing costs through switching to cost-effective digital marketing tools
- Enabling claims transformation through a hosted SaaS platform which integrates document management, claims workflow and analytics
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About Us
