Property and Casualty
As economic recoveries continue around the globe, albeit slowly, Property & Casualty (P&C) insurers are focusing on customer retention, stronger underwriting, innovation in new and specialized products, and marketing for growth. Carriers are investing in policy administration and claims solutions to create platforms for faster delivery, lower operating costs, and for better positioning in light of both organic and acquisition growth. Technologies, such as social, mobile, cloud, telematics, big data and analytics, are enabling carriers to not only differentiate themselves, but also improve loss ratios, evaluate exposure, manage risk, and effectively use reinsurance. Generation Y, representing the largest population segment of “digital natives”, are entering the workforce and becoming insurance consumers, exerting pressure on traditional sales and distribution channels.
Our response is specific – services and solutions that help our commercial and personal lines clients address:
- Customer focus – 360° view of customers that enables attracting, retaining, and cross-selling to customers
- Business growth – Underwriting solutions, market and risk segmentation, and ability to develop products and services tailored specifically for markets; and by enhancing sales and distribution models
- Cost reduction – Driving operational excellence, improving process, transforming policy administration, claims, and legacy environments
- Risk management – Improved data from internal and external sources, business intelligence, analytics and reporting
Innovation Sets Us Apart! We break down silos, leverage our P&C industry knowledge, and apply enabling technologies to generate new ideas and deliver real value.
Virtusa implemented one of the largest claim transformation initiatives for a Global P&C major