A NEW LEASE OF LIFE

Redefining insurance ecosystems interwoven relationships
through next -gen technologies  

Insurance is a large ecosystem, with many participants involved in customer promise delivery, business value chain, and core business functions; as a result, insurance industry interrelations are fraught with friction. Technology has enabled Life and Annuity carriers to build efficiency into their programs to spruce up the customer experience. Mphasis' approach is to smooth the insurance ecosystem through seamless data generation and consumption at the right time. In addition, it helps develop new capabilities that link enterprises to platforms to fulfill a variety of needs in one integrated experience and provides innovative services to handle the scale and complexity of ecosystem relationships.

 

OUR OFFERINGS

 

Voluntary and group benefits are becoming a key factor and attracting and retaining talent in today's labor market. Insurers need to provide their policyholders with hyper-personalized and experience-led engagement to remain relevant to new-age customers or millennials. In addition, insurers need to optimize their data and modernize their platform to offer the right products at the right time and via the right channels. Mphasis capabilities and solutions span the length and breadth of the group and voluntary benefits, from digital solutions to solving a pain point or market need to Tech/Ops management of in-flight or closed book to user-friendly digital interfaces to streamline transactions, and in many cases, allow customers to serve themselves.

 

Insurance organizations today are at the crossroads of cost Savings vs. Spends on technology. Continued pressure on Insurer Expenses combined with steady policy ownership percentages for years reflects the challenges faced - market penetration at an all-time low, changing financial priorities, Millennials having more access to voluntary benefits. In the face of these headwinds, digitization offers agile and innovative insurers real opportunities to grow. Mphasis' excellent technology solutions and expertise offer Life and Annuity carriers the opportunity to define a cohesive digital strategy and transformation plan to build digital capabilities in the right manner.

 

BENEFITS

 

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

RECOGNITION

 

OUR CAPABILITIES

 

SUCCESS STORIES

 

THOUGHT LEADERSHIP