Insurance companies are grappling with the challenge of gaining competitive edge in the fiercely competitive market. Customers are connecting through multiple channels and product per se is no more a differentiator. Thus companies need to build up flexible and agile processes to optimize operations across the life cycle of policy to achieve superior customer experience.
Dark Horse has delivered cutting edge SOA enabled BPM solutions to help customers achieve business transformation aligned with organization strategy and business goals
The insurance companies have reaped benefits as
- Greater flexibility and quick TATs
- Seamless extension of processes to partners
- Better customer retention and satisfaction
- Improved compliance, control and visibility
- Faster time to market
- Superior underwriting, minimizing risk
- Evolved claims management
Featured Insurance solutions
Sales and Distribution
Agency / Channel management: Business in Insurance is sourced through varied channels like Tied channels (Agents & Branches), Banks, Financial services companies / Brokers etc. Effective channel management is a key to new business generation. Our solution helps Insurance companies to manage complex processes related to on-boarding of new agents, management of bonuses and incentives, Hierarchy management, performance tracking etc.
Quotation Engine: Insurance is a highly regulated market and hence compliance with prescribed norms is mandatory right from quotation generation stage itself. Our quotation engine incorporates required rules whilst retaining the flexibility to generate best possible quotations thus positively impacting new business generation.
Policy Issuance and Administration
New Business Automation: New Business process is very critical for an Insurance company. On one hand, sales team has to meet the customer expectations in terms of quick and hassle free issuance. Operations team, on the other hand, has to comply with various regulations on TAT and correctness of policy contract data. Our New Business solution enables seamless integration with underlying systems, external entities and vendors / partners. It ensures speedy data entry and error-free quality check. The result is improved TAT / compliance and hence better customer experience.
Underwriting: Underwriting process is mission critical for every insurance company. Underwriters have to underwrite accurately whilst reducing the cycle time. Our Underwriting solution speeds up cycle time by optimizing process end to end with robust yet flexible work flow. This leads to reduction in leakages, manpower cost and improves productivity thereby resulting in greater profitability.
Claims Management: Claims is one of the most critical and visible client experiences and thus effective claims management is of key significance to the insurers. Our Claim management solution streamlines the process thereby improving the Claims settlement ratio resulting in increased customer satisfaction.
Service Request Management: Customers demand multiple modes for raising service request including the Self-Help portals. The service requests are also tracked by the regulator to keep a close watch on the stipulated TAT for the closure of service requests. Our Service management solutions can manage service requests effectively with built-in notification enabled via e-mail and SMS. The service requests of non-financial as well as financial nature can be smoothly managed.