Mindtree, UPC Insurance | April 27, 2021
Mindtree, a main advanced change, and innovation administration organization, has joined forces with Duck Creek to improve the client experience for UPC Insurance clients through the execution of SaaS-based center frameworks. This incorporates strategy, charging, claims, information bits of knowledge, and protection innovation arrangements just as the combination of various applications on a solitary coordinated stage, made conceivable with Duck Creek OnDemand, the supplier's SaaS answer for the property and loss (P&C) protection industry.
UPC Insurance is a chief forte guarantor of fiasco uncovered property protection in the seaside U.S. for individual and business properties. With uplifting client assumptions around quick and helpful preparing of cases, UPC Insurance has effectively modernized its IT frameworks so they can improve operational efficiencies and interaction claims surprisingly fast rather than hours.
"Our association with Mindtree and Duck Creek has prompted the dispatch of our most recent organization, Skyway Technologies. Skyway.com will offer Direct-to-Consumer individual lines property holders' items, taking into consideration a genuine multi-channel insight for UPC clients" said Chris Griffith, President of Skyway Technologies and CIO of UPC Insurance. "By speeding up our computerized change endeavors, with assistance from experienced accomplices like Mindtree and Duck Creek, we can adjust all the more rapidly and carry development to our clients along the coast."
Carefully empowered, UPC Insurance furnishes clients with the quicker admission of first notification of misfortune (FNOL), touchless cases taking care of, upgraded installment capacities including advanced installments, and improved client support on its self-administration channels. Furthermore, new item dispatches and item updates would now be able to occur in weeks versus months. Utilizing examination across the association, UPC Insurance can adopt a bit of a knowledge-driven strategy to advance client encounters, acquiring an upper hand.
"We cheer UPC Insurance for taking intense new activities to turn into the chief transporter of calamity protection in the U.S. what's more, modernizing its center frameworks to accomplish its computerized change destinations," said Venu Lambu, Executive Director and President, Global Markets, Mindtree. "Along with Duck Creek, we can guarantee on schedule, on-spending conveyance of arrangements – permitting UPC Insurance to send new items at the speed of business, and to give its clients an improved computerized insight."
"This computerized change addresses a critical advance forward for UPC, and is one more sign that evergreen SaaS advances are the new norm in P&C protection," said Matt Foster, COO of Duck Creek Technologies. "Duck Creek OnDemand will allow UPC to zero in on offering the new items and client encounters its policyholders expect – while our group offers every one of the types of assistance, backing, and figuring assets it needs to move forward in an undeniably aggressive commercial center. Along with Mindtree, we are glad to salute UPC on this significant achievement in its proceeded with development and achievement."
Mindtree is a worldwide innovation counseling and administration organization, assisting endeavors with wedding scale with the nimbleness to accomplish the upper hand. "Conceived advanced," in 1999 and now a Larsen and Toubro Group Company, Mindtree applies its profound space information to 270 endeavor customer commitment to separate storehouses, figure out computerized intricacy and offer new activities for sale to the public quicker. We empower IT to move at the speed of business, utilizing arising advances and the efficiencies of Continuous Delivery to spike business development. Working in 24 nations across the world, we're reliably viewed as perhaps the best work environment, encapsulated each day by our triumphant culture comprised of more than 23,800 enterprising, community-oriented, and committed "Mindtree Minds."
About Duck Creek Technologies
Duck Creek Technologies is a main supplier of center framework answers for the P&C and General protection industry. By getting to Duck Creek OnDemand, the organization's venture Software-as-a-Service arrangement, protection transporters can explore vulnerability and catch market openings quicker than their rivals. Duck Creek's practically rich arrangements are accessible on an independent premise or as a full suite, and all are accessible utilizing Duck Creek OnDemand.
About UPC Insurance
Established in 1999, UPC Insurance is a protection holding organization that sources, composes, and benefits individual and business private property and loss protection strategies utilizing a gathering of completely possessed protection auxiliaries through an assortment of conveyance channels. The Company as of now composes approaches in Connecticut, Florida, Georgia, Louisiana, Massachusetts, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Texas. From its central command in St. Petersburg, UPC Insurance's group of devoted experts deals with a coordinated insurance agency, including deals, endorsing, client support, and claims
EXL, Benekiva | February 17, 2021
EXL, a main operations management and analytics organization, today declared an association with Benekiva, a software startup zeroed in on giving seamless technology solutions to financial services, to upgrade the digital claims capabilities of EXL's LifePRO® policy administration platform.
The association will join the start to finish policy management capabilities of LifePRO® with Benekiva's digital claims solutions, which incorporate work processes, record digitization, and claims admission to give a more powerful, effective claims insight for the two clients and representatives.
Homesteaders Life Company, a public chief in preneed protection subsidizing and LifePRO® customer, has just started seeing advantages from the EXL and Benekiva partnership
“We’ve seen the combination of Benekiva and LifePRO® transforming customer experience and enhancing customer journeys,” stated Nick Gerhart, Executive Vice President and Chief Innovation Officer, Homesteaders Life Company. “It’s also enhanced our resilience. When we shifted to remote work during the pandemic, our employees were able to seamlessly continue to pay claims and keep functioning.”
“We are excited to augment our digital claims management capabilities through this partnership with Benekiva,” said Keith Johnson, Senior Vice President and head of digital insurance solutions and LifePRO®, EXL. “A major component of our success in the policy administration space stems from the way we ensure fast, accurate resolution for customers’ claims. Benekiva will help us amplify the customer and beneficiary experience within our digital claims solutions.”
Said Brent Williams, CEO, and President, Benekiva, “EXL is a global leader in insurance across operations, analytics, and technology with a two-decade track record of innovation in areas of policy administration and claims, through their LifePRO® platform. We are excited to partner with EXL to bring a more digitized and seamless claims experience to the insurance market. We look forward to bringing the same great benefits Homesteaders Life Company has experienced from this partnership to other LifePRO® clients.”
EXL's LifePRO® offers adaptable help for an expansive scope of life, wellbeing, and annuity items. With an adaptable help based design highlighting a library of more than 250 REST and ACORD digital services and minimized single-reason services for regions including policy servicing, party upkeep, specialist and chain of importance management, and item arrangement, the platform furnishes back up plans with security, versatility, and configurability. An electronic UI gives a 360-degree perspective on clients and specialists and is planned considering ADA consistence. EXL is ceaselessly putting resources into and improving LifePRO®, with the platform now on its twentieth rendition.
About Homesteaders Life Company
Homesteaders Life Company is a national leader providing products and services to promote and support advanced funding of funeral planning and end-of-life expenses.
Benekiva, LLC, was founded in 2018 to offer smart, elegant, and powerful technology solutions to insurance providers. It has since developed a comprehensive digital claims and customer service platform to service all of the document management, compliance, workflows, adjudication, and claims issues related to the insurance industry. The company is headquartered in West Des Moines, Iowa, with a satellite division in Winston-Salem, North Carolina.
EXL is a leading operations management and analytics company that helps our clients build and grow sustainable businesses. By orchestrating our domain expertise, data, analytics, and digital technology, we look deeper to design and manage agile, customer-centric operating models to improve global operations, drive profitability, enhance customer satisfaction, increase data-driven insights, and manage risk and compliance. Headquartered in New York, EXL has more than 31,000 professionals in locations throughout the United States, the UK, Europe, India, the Philippines, Colombia, Australia, and South Africa. EXL serves multiple industries, including insurance, healthcare, banking, and financial services, utilities, travel, transportation and logistics, media, and retail, among others.
Majesco | April 06, 2021
Majesco, a global leader of next-generation cloud insurance platform software for insurance business transformation, today reported the overall accessibility of new key capabilities to Majesco's Distribution Management platform.
“Our latest product release for Majesco Distribution Management, includes major ease of use capabilities for our customers,” said Manish Shah, President and Chief Product Officer at Majesco. “We have now enabled carriers to quickly and automatically identify and notify under performers and route them to termination if necessary. In addition, we added enhanced communication preferences, through configurable notifications, which can be sent directly to producers or their parent organization, and mass onboarding of producers through a file upload, particularly valuable when bringing on large distribution groups.”
This most recent delivery features Majesco's continued strategic investment in distribution management by expanding innovative, new digital, distribution and data capabilities to speed distribution on-boarding and optimize the distribution operation to drive profitable growth. A portion of the key new capabilities include:
Distributor Performance – Enables carriers to configure rules that automate identification of under performers and flag for termination. The approval workflow includes low performance warning notifications sent to producers prior to review of a potential termination decision. After review, the termination can be cancelled if performance is met or accepted.
Communication Personalization –Enhanced capabilities through configuration of communication and notification preferences for distributors or their parent organization. This capability will enable carrier’s flexibility to better service distribution channels that can influence growth in business from those channels.
Rapid Mass Onboarding –New mass onboarding that speeds and streamlines the onboarding process and enables hundreds or thousands of producers to be onboarded simultaneously through a simple file load rather than a manual process, accelerating business growth.
“Insurers acceleration of new products, new business models, and new ways of engaging with customers is driving an increase in the use of new channels,” said Karlyn Carnahan, head of Celent’s North American Property Casualty practice. “If a carrier wants to fully exploit the potential of its various channels, they must think very differently about distribution management, compensation and segmentation. Distribution management platforms must continue to evolve to enable insurers to manage their distribution force with increasing sophistication.”
The present insurers should unite a scope of distribution, data and digital capabilities as a foundation of a next-generation distribution operation to successfully expand their reach, brand and customer engagement in a multi-channel world. Majesco Distribution Management offers a next generation solution to deal with the intricacies of a changing distribution landscape utilizing innovation that keeps the insurance suppliers on the main edge by diminishing an opportunity to execute a new distribution plan or consolidate the current channel landscape onto a common platform. From dealing with multiple channels, to handling intricate and high-volume changes, and personalizing payment schedules for channels, to obliging integration with existing center insurance systems, Majesco Distribution Management empowers agility, innovation and speed.
Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® eConnect, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse.