ANALYTICS HOLDS THE EDGE
Referred as the oldest industry that uses analytics, the Insurance industry in the US is today faced with challenges that revolve around technology adoption and modeling newer types of products catering to different demographics. While newer market segments in commercial lines and online insurance, ageing workforce and the ability to manage risk poses a challenge. Carriers are increasingly looking for ways and means to build operational efficiencies streamlining back-end processes with platforms, technology and human innovation in process management. Customers today are directly influencing new product development in Insurance.
DIGITAL TRANSFORMATION AND RISE OF THE MILLENNIAL
Insurance companies are devising ways to transform their business digitally. Big Data and Cloud are turning out to be top influencers for Digital Transformation. Legacy Systems that process policies and claims are increasingly going Digital and especially mobile, while Analytics continues to be the corner stone to analyze customer behavior.
Social reputation and customer experience are most important today, with the millennial insurance customers are on the rise. In order to service these groups, Insurance companies need to continually provide unparalleled customer experience while build operational efficiencies to cope with changing economic and regulatory landscape, and remain profitable.
SALESFORCE – THE CUSTOMER EXPERIENCE PLATFORM
The big change in the Insurance industry has been the focus on the customer than on the policy. With the increasing millennial user groups and social behavior of all customers, Insurance carriers need to adopt customer-centric and personalized communication with its policy users as well as potential customers. Salesforce, with an omni-channel experience enables customized and consistent communication across multiple touch points also helping you manage your social reputation.
Mastech’s Salesforce experts specialize in understanding your brand touch points and implementing as well as integrating Salesforce across different channels of communication. With our expertise in customizing Salesforce across the Insurance value chain, you will be able to integrate communication across social media channels, web applications, voice and email. We bring efficiency in your campaign management and customer relationships.
SAP HANA AND ENTERPRISE EFFICIENCIES
As the insurance industry copes with regulatory pressures as well as changing customer demand, carriers need to be high on efficiency and invest in scalable technology platforms. With its in-memory computing, SAP HANA helps you analyze and draw intelligence out of customer information from several sources. Your decision-making hence becomes real-time and more efficient.
Our SAP HANA experts work closely with your Enterprise teams to implement and integrate SAP HANA platforms across the Enterprise systems. You can now use live date of transactions, while analytics are now real-time. Through SAP and SAP HANA, we drive efficiencies across Claims and Policy Administration, Commissions, Reporting, Analytics, Re-insurance, Asset Management, and Product Management.
STAFFING AND HUMAN INNOVATION
The changing Insurance industry needs a Digital workforce to manage efficiencies through Digital touch points. Your legacy systems also need staff that can maintain and integrate them with newer technologies keeping up with the safety and security of your customer information. Staffing in a contingent mode also helps you increase your operational efficiencies with a reduced TCO.
We specialize in staffing your IT needs with skill sets that are common, yet unique in understanding your business and technology domain. We specialize in hiring:
- Data Scientists and Big Data Analysts
- IoT experts and Artificial Intelligence specialists
- Problem Solvers and IT architects
- Social Media Savvy experts
- Communication Experts