LIFE, ANNUITY & BENEFITS
Redefining insurance ecosystems interwoven relationships
through next-gen technologies
Life Insurance companies are facing significant challenges growing the business, containing operations cost, improving customer experience and launch new products to address new risks across life, health, and financial products. In addition, new distribution channels and asymmetric competition from new entrants require companies to rethink their business models, bundle product offerings in new eco-systems and innovate across policy holder’s interactions and life events.
The traditional IT approach the Life Insurance industry has taken in line with product centric business model will need to be disrupted to thrive in Digital economy and changing digital native demographics that align with customer centric business model. To drive this transformation, insurance companies need to build their technology architecture and engineering muscle coupled with strong globally distributed execution capabilities to address skills gap.
At Mphasis, engineering is in our DNA. We lead with design and architecture to deliver a portfolio of next-generation offerings and services that blend our deep Insurance expertise with cutting-edge technology. Our customer centric “Quotes to Claims” offerings are embedded in deep tech, and we are enabled by the Mphasis Tribes and Squads model. Our cross-functional teams are focused on evolving our digital offerings powered by Cloud and Cognitive. This enables us to bring the 'T' back into IT, with T standing not just for technology, but also for transformation combined with a strong understanding of evolving and converging Life, Health, Annuity, Retirement, Group, and Voluntary markets. Guided by the Mphasis Front2Back™ approach, we create hyper-personalized experiences and drive customer-centric transformation.
Improved customer experience & value through Straight Through Processing, eApps, eDelivery
Cost savings through self service
Rapid sales via product innovation
Speed to market
Analytics/AI-based trend’s research