Insurers today want to have multidimensional view of business including that of policyholders and Claims. They have realized that their own internal data, if properly analyzed, may give deep insight that they desperately require. Thus Insurers have taken attempts to analyze performance of their channels, but they are constantly faced with the challenge of clearly identifying the channel that provides the maximum ROI. Today there is a constant need to analyze and enhance operational efficiency
The answer to all the above requirements lies in having Insurance Analytics in place which would provide actionable intelligence about Customer, Policy Servicing, Claims etc.
Tech Mahindra’s solution can help an Insurance company satisfy their Analytics needs with an ACORD compliant data model. The system collects data from different sources like Policy Admin Systems, Claims Management Systems, and Channel Management systems and analyses them to produce actionable intelligence that will help an Insurance company take informed decisions.
The solution incorporates industry best practices in KPIs, analytical templates and dashboards. It consists of 350+ KPIs and 250+ templates covering all business process areas of life and P&C Insurance.
Tech Mahindra’s solution can also be offered as Solution as a Service (SOaaS) cloud model.