The insurance industry is undergoing a significant transformation, compelling organizations to navigate through difficult choices within the technology space. Choosing correctly between legacy & modern systems, content & configurability and onshore & offshore, can help insurance companies acquire and maintain a competitive advantage. At Birlasoft, we bring together solutions that make such choices simpler.
Working with customer priority, Birlasoft supports the upgrade from legacy, through its application development and maintenance services & offshore development centre framework, enabling organizations to find optimized cost structures to support such applications. However, many insurers may find the downstream challenges of moving from legacy to modern systems too hard to ignore.
Birlasoft enables support for these initiatives through an optimization and modernization framework. Leveraging a unique combination of local niche boutique consulting capability, coupled with our extensive experience in offshore strategies, Birlasoft provides a seamless approach for a successful implementation of an organization's key initiatives.
Strategic Sourcing Partner
Insurance carriers are at various stages of maturity with respect to outsourcing. Ranging from initiated IT sourcing services, BPO to full-fledged right-sourcing with strategic vendor partnerships, Birlasoft can be a strategic sourcing partner irrespective of the organization's status on the maturity cycle.
Birlasoft can optimize IT & business user groups, with effective product, rule, and rate management services, for both ISO and non-ISO lines, of business. Our techno-functional SMEs have the required expertise on both packaged and custom product management solutions to deliver a wide range of value added services.
Hardcoded Content V/S Configurablity
Insurers need to be agile and acquiring the ability to quickly respond to consumer needs, by developing and upgrading their products, is crucial. "Speed-to-market" ability differentiates an insurance carrier, in terms of competitiveness and compliance, and this differentiator can be attained by the effective use of product configurators, ratings and business rule engines. Effective use of configurators and engines will benefit insurers through:
- Automated & consistent product development process
- Reuse of product & rate components to rapidly develop new and/or modify existing products
- Reduced IT dependency and maintenance costs
- Increased business visibility & control over products, rules and rates development