Insurance Against Irrelevance

Virtusa’s Insurance practice was built from the ground up for technology innovation and business transformation. We’ve gathered together insurance industry thought leaders, business consultants and senior technologist from marketing-leading firms, consultancies and solutions providers around the world. And while our expertise is diverse, we all have one trait in common: the DNA for disruption.

We bring together the skills and expertise insurers need most.

Industry Knowledge

Understanding of the unique requirements of life, health, property & casualty, retirement and various specialty offerings.

Key Technologies

Working knowledge of key technologies that are disrupting the industry and leveraging best practices for integrating with legacy and major third party solution providers.

Proven Methodologies

Applying proven methodologies for use cases and requirements that are technology agnostic and recommending the solutions that best meet your requirements.

New Product Innovation

Identifying opportunities to introduce new products to the marketplace such as usage-based insurance or micro-insurance.

Scaling and Agility

Architecting the business model and technology solutions to scale for the enterprise with the agility to respond to immediate opportunities

Innovation Lab

Proving innovation in our Labs such as Blockchain and identifying the use cases that appear most ready to take advantage of the disruption.

Application Modernization

Modernizing your applications with practical, proven and innovative thought leadership to mitigate risk which embracing disruptive initiatives

True partners and trusted advisors ready to help transform your enterprise.

Our people our highly analytical problem solvers with a heritage of strong engineering and project management. We pride ourselves in the ability to collaborate and partner on the most demanding enterprise initiatives.

Our services and solutions are targeted at achieving high impact partnerships with the business and technology leadership of insurance organizations of all sizes, across regions and product types. With over 75 active enterprise customer initiatives underway at any one time, we are built for scale while always staying agile.

Services built around key industry drivers.

Sales and Distribution

Insurers are threatened by non-traditional competitors and new business perspectives while also maintaining core relationships with agents and brokers. Disruptive ideas will continue to challenge the traditional models.
Compliance

Compliance

The expansion of regulation to ensure consumer protection, to prevent insurer insolvency, much like banking, and to preserve markets will require transformed financial, risk and data engines that can measure and report compliance across the enterprise.
umbrella

Core Insurance Systems

Insurers will continue to face pressure to modernize core New Business, Underwriting, Policy and Claims Systems to bring new products to market quickly, mine enterprise data for actionable insights to improve underwriting and loss rations and facilitate game changer cost take out through deployment of Cloud and Robotic Process Automation.
Gears

Transformation of Operations

Cost take will continue to be a major emphasis and insurers require a partner that can drive and define the business use case for maximum efficiency while deploying robotic process automation, analytics, business process management throughout the value chain.

Security and Value-Leakages

Leakages in fraud, cybersecurity and compliance issues continue to challenge insurance organizations as more of the business is handled through Digital interactions.
Agile

Becoming an Agile Organization

Insurers require the agility in the market place to run their business in a highly efficient and responsive way reducing cost while speeding time to market for new services and products. Our DevOps and development teams help organizations address the core infrastructure required to support a new customer centric Digital experience.

Digital Customer Experience

The buying behavior and preferences of the customer has changed dramatically. Millennial interaction is completely different than the mass affluent and insurers must offer a personalized experience with from purchase, service to claims. Analytics plays a key part for interactive advice that must be available 24 X 7 on mobile devices.

Preparing for Game Changers

While disruption has occurred from Straight Through Processing, Telematics, IOT, Analytics, BPM, Mobility and modernizing technologies, insurers must be ready for the next wave that’s already rising. Advances in Blockchain, Cognitive Computing, Data Capture from Drones and Chatbots will disrupt the future of business. As your partner, Virtusa will assess the use case, the readiness of these technologies and leverage our innovation lab ecosystem to give you first mover advantage.

Committed to customer success

Virtusa’s Insurance practice is committed to our customer’s success as you take on the initiatives that have the highest priority for your business. We understand that this may also addressing core needs. Whether it’s helping

  • Reduce technical debt
  • Migrate legacy or third-party systems to the Cloud
  • Address core Data Governance and Quality
  • Automate Testing
  • Prepare for Digital initiatives
  • Establish open platforms and APIs

Virtusa can tap into our global Vertical Transformation and Technology teams, Business Consulting and Core Outsourcing teams to meet all the requirements you have.