Innovation Solution

Solution Description

NextGen Underwriting Workstation

This solution helps the Underwriters to visually analyze the risks associated with any property (using mash-ups), due to natural and manmade hazards. This solution is useful in calculating the accumulated risk, configure Probable Maximum Loss (PML), and generate alerts when PML is exceeded.

Customer Retention Portal

This solution demonstrates how Web 2.0 tools can support call center employees (more specifically Customer Retention Team) to perform their activities more efficiently, manage the knowledge better, increase collaboration and thereby increase the overall customer retention ratio.

Automated Query Resolution System

This solution demonstrates how Natural Language Processing (NLP) engine can be used by the Insurers to automate the process of resolving mundane queries raised by different stakeholders like agents and customers, thus reducing the cost of operations and improving customer experience.

2D Barcode Enabled Mobile Loss Notification System

This solution enables a customer to report a claim to the Carrier from their mobile device by scanning the 2D barcode (having Policy Number, VIN like attributes embedded in it). This 2D barcode can either be in the Insurance card or affixed in the vehicle/property insured.

Mobile Claims Adjuster

This solution, developed using Web 2.0 and Mobile technologies, facilitates Claims Adjusters to provide quick and superior customer service while managing any Catastrophe Claims in the event of local weather emergencies like hurricanes, tornadoes.

Virtual World Solutions

This solution demonstrates how the virtual world can be used by Insurers (both IT and business units) in various areas like training/education/etc. This solution can also be used to create complex what-if scenarios (which are costly in the real world) and enable the junior/trainee Adjusters to undergo training in a low-risk environment.

Data and Text Analytics

This solution helps analyze and develop insights from Survey responses, which could either be internal (e.g. Employee Satisfaction Survey) or external (e.g. Product and Market Surveys, Customer Satisfaction Surveys, Agent Satisfaction Surveys)

Business Process Dashboard & Command Center

This solution provides the single view of all critical process performance metrics that could be monitored by various functional units (e.g. Operations, Claims, IT) to articulate and demonstrate the value generated by them. This also helps Business executives to understand, optimize and improve the business processes and launch initiatives to achieve process efficiencies.