The Insurance industry is rooted in proactive security principles and seamless, contextual engagement throughout the customer journey. Also, it drives changes in customer expectations, technological innovation, regulatory requirements, and socio-political and economic disruptions. However, the industry needs to transform digitally from traditional preconceptions through the power of data and analytics along with innovative technologies.

To offer underwriting efficiency, make use of our digital expertise, the newest insurance technology, in-depth industry knowledge, fundamental platform reforms, and huge data initiatives. Using industry problem statements as its primary focus, Cygnet Infotech offers enterprise transformation solutions and an overall omnichannel strategy for its clientele to achieve business requisitions. Our industry experts help our customers to derive meaning from the different forms of archived or unprocessed data. With our smart and custom made solutions and algorithms our customers have gained unprecedented insights even from the transactional data to understand end customers’ behaviors.

Industry
challenges

Cyber Terrorism/Cybersecurity

Insurance industry’s key priority is to engage with the customer through multiples channels, however cyber security is the top priority to prevent breaches.

Manual & traditional methods

Digitization is yet to be implemented as the insurers use traditional methods to engage with the customers for their set of products and services.

Complex and limited resources

The procedure insurers use is very complicated and tedious through which retention and management affects the growth in the market.

Consumer and provider engagement

Lack of consumer engagement may also create challenges for insurers by hampering consumers’ ability to find and understand coverage options and possible subsidies.

Management and administration

There are requirements for improvised governance and management, including distinctive direction, discipline and communication across the department.

Our Capabilities

With a 2000+ enterprise-class solutions & products, Cygnet Infotech works with insurance organizations to help them modernize core systems, transform business, and disrupt their markets with cutting-edge technologies.

Connected insurance

Utilize connected devices by introducing new goods, doing effective underwriting, and making prudent claims

Cloud compatibility

Winning in the digital age with cloud enabled end-to-end automation for data migration & batch process on the cloud platform

Cybersecurity

As more business transaction is conducted through digital interaction, insurance businesses continue to face challenges related to fraud, cybersecurity, and compliance

Digital insurance

Leverage our robust design thinking framework for value stream mapping and re-imagination with an agile implementation methodology

Business insighted Insurance KPI Framework

Improve business performance by using dashboard reporting based on personas and a culture of data-driven decision-making

Insurance intelligent process automation

Optimize business processes across the insurance value chain and streamline front and back office business processes for your insurers

Digitizing insurance customer experience

Customers’ purchasing habits and preferences have undergone a significant transformation. The interactions between millennials and the mainstream affluent are totally different. From the point of purchase to servicing and on to claims, insurers must provide a personalised experience. For interactive guidance to be provided 24/7 on mobile devices, data and analytics are crucial

Our Service offerings

CRM integration

Technical consultations are provided to integrate the contemporary CRM systems as per the customer’s requirements

BI and Data Analytics

Providing customers, 24 x 7 virtual and augmented connections with personalized, human-like interactive experiences and contextual information on products or services

Digital Transformation

It is crucial to adapt new technologies and transform organizations digitally in order to keep up with the changing global trends

Legacy modernization

A robust framework backed by experience in helping organizations manage their legacy portfolio and adopt newer technologies that assists in modernizing IT systems to align with business objectives and outcomes

Compliance

Protect consumers, prevent insurer insolvency, and preserve markets with upgraded risks and data engines to measure and report compliance across the enterprise

Faster product releases

Utilize a tool-based approach for application management and testing to shorten the time between product development and release

Enterprise IT transformation & automation

Leverage seamless automation security services delivered across SDLC for continuous improvement

Integration and production support

Various integrations are modernized as per the business requirements and 24*7 support is provided through the allocated team

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