STP is a mandate for Property & Casualty business. How prepared are you to compete?

The global property and casualty insurance industry are challenged by increasing claims costs, increased regulatory compliance requirements, competition from innovative new market entrants and commoditization by new buyers such as Millennials.  This environment is further challenged by the need to transform legacy platforms and implement disruptive technologies to improve the overall customer experience in order to remain competitive.

Key technologies have disrupted the marketplace: Internet of Things (IoT), telematics, blockchain, artificial intelligence and robotic process automation.  Straight-through-processing (STP) is table stakes to keep costs aligned with the competition while increasing service capabilities.  New innovative products such as usage-based and on-demand insurance are competing with traditional models.

Virtusa combines insurtech disruption with leading transformation expertise.

Claims Suite

Create value by reducing costs and delivering superior customer journeys.

Claims Suite

An end-to-end Claims Management Suite built using Pega Claims for Insurance (PCI) comprising Consulting Services, Technology Transformation, Support Services, and Optimization Services with a strategic focus to accelerate Claims outcomes.

Benefits include:
* Reduce indemnity leakage by millions per day
* Delivery of cutting edge Millennial customer experience
* Reduce claims operations costs by ~30-50%

Claims Analytics

Deploy analytics for actionable insurance insights.

Claims Analytics

Virtusa helps dramatically improve analytics by helping you integrate structured and unstructured data to drive new understanding and develop deeper insights. We’ll help leverage powerful predictive models to put cloud-based, multi-dimensional data to work to enable business growth, improve operations—and better prepare for what’s next. Whether it is addressing Data Lineage and Data Strategy, Big Data & Analytics, Business Intelligence, Data Governance or building your Data Lake, Virtusa is your partner. We have engineered many of the data management solutions in the industry and have expertise across all the leading and open-source tools.

Underwriter Work Bench

Process volumes of underwriting submissions efficiently, effectively at lower costs.

Underwriter Work Bench

Our pre-built automation integration with vUWB (Pega Underwriting for Insurance) helps underwriters to resolve submissions efficiently, reduce losses, help with data extraction from submissions, consistency in scoring, and increase policy counts. Our solution provides you with the foundation to improve overall underwriting cycle duration by 10X and provides underwriters with instant analytics information.

Complaint Management System

Turn customer complaints into compliments.

Complaint Management System

CMS for Insurance (CMSi) is a Pega based solution that revolutionizes complaints processing by providing efficient workflows, platforms for collaboration, enabling regulatory compliance and improving policy holder satisfaction.

Achieved through a rich feature set:

* One centralized system for all complaints
* Powerful combination of rules and case management
* Comprehensive security measures
* Alert/Notification capabilities
* Easy maintainability
* Personalized dashboards

Claims Automation BOT

Leverage digital workers (BoTs) to transform your claims operations

Claims Automation BOT

Using BoTs is like hiring, training and operating a new virtual workforce. BOT not only does what a human does, but does it better and faster.

Unlike humans, BOT can successfully invoke system calls and exchange information in a secure way which reduces integration costs. BOT handles exceptions to deal with real business situations and it also maintains audit trail of all files and actions. BOT enables managers to view the status of work any time and triggers proactive alerts for improved customer and staff experience.

Key features of the solution include:
* Quick and inexpensive implementations
* Extensive capability on multiple RPA platforms like Openspan, Blue Prism, Automation Anywhere and proprietary tool Accello
* Ability to support variety of intake channels

Business Process Automation (BPA)

Drive innovation through your end-to-end processes.

Business Process Automation (BPA)

Leveraging Business Process Automation technology such as PegaSystems, we define the integrated business, operation and technology architecture. We deploy rule based process automation solutions that drive automation to the highest levels, while providing the analytical tools, advanced visualization and decision engines to optimize the interaction of knowledge workers such as underwriters and claims adjusters. BPA in combination with RPA, Analytics and Digital technology is the new standard for processing. Our solutions also provide the operations metrics and productivity insights required to optimize your business and measure the return on your innovation investments.

Application Modernization

Re-imagine legacy systems to reduce inefficiencies and leakage, and improve compliance.

Application Modernization

We optimize and standardize processes—and modernize applications—to improve agent/broker interactions, speed end-to-end claims processing, and overhaul finance functions for greater accuracy and efficiency. We are a market leader in offering repeatable frameworks and business capability models in areas such as Sales, Underwriting, Claims, Service and Finance. Our business transformation consultants understand the technologies and capabilities of the solution providers serving the industry and deploy the disruptive thinking required to help you achieve your innovation objectives.

Digital Transformation

Dramatically improve the customer experience from quote to claim.

Digital Transformation

We create intuitive solutions that empower customers, agents and service representatives to interact seamlessly across channels and devices. We have partnered with leaders such as Adobe and Salesforce.com to create customer-centric, SaaS platforms and seamless digital experiences. We also integrate cognitive computing technologies and mobile solutions such as IBM Watson to facilitate sales, service or processing assistance based on specific product offers. Our Digital Transformation Solutions include leverage of our Digital Labs to support Millennial and Digital Strategy, Customer Experience, Mobile and Social Listening, Gamification, Digital Marketing and Analytics.

DevOps and Microservices

Increase the Agile journey by 50–70% by bringing together people, process and technology,

DevOps and Microservices

From rapid prototyping and continuous integration, to improving code quality and productivity, to seamless application maintenance and support. For example, with the implementation of digital initiatives, Microservices as an architecture approach has become critical for leveraging a number of independent application services to deliver one single business capability in an independent, loosely coupled/decoupled and self-contained fashion. Our expertise in Web Services, Application Services and Infrastructure combined with tools and methodologies proven in leading banks, financial institutions, insurance companies and other verticals makes Virtusa the wise choice for architecture, design, development and management of your environment.