It is always a good time for reflection; both about lessons learned from the past, and about what the future will bring. Insurance Industry, in that spirit, has a formidable list of haunting issues and lessons to be learned from years past. While demanding customers, regulatory measures, security concerns and mobility have brought forth a new set of challenges for the industry in last couple of years, everyone has felt the acute frustration of the inability of software solutions to cope up. Challenges accompanying new technologies, complex product development, and competition also need to be addressed. After all, what better way is there to solve a problem than by first identifying it?
Industry needs to be able to provide its customer with best of the features and extensions while improving upon the average handle time and customer service. New design model that can significantly decrease the learning model for new adjusters through its user friendly design and interface is need of the hour.
- Regulatory developments compliance for the year and beyond.
- Potential developments and updates in insurance taxation
- Modernizing of business models and operations
- Tracking the services delivered and product gains
- Desire for increased levels of customization through product innovation
- Timely and efficient management of claims to prevent delays which can increase the claims cost
- Expanding product range with constant need to develop innovative products and expanding distribution channels
- Screen consolidation to streamline the claims handling process
- Automatic denials based on internal quality assurance controls
- 3 C’s (Concern, Cause, and Correction) are to be driven by product
It is an opportunity for Insurance industry to differentiate themselves with a unique blend of technology and service operations to support its businesses.
Countries with higher percentage of internet user’s population rank lower in corrupt countries list.
Oxford University’s Internet Institute built the above visualization using 2013 data from the World Bank. The map shows that Asia has 1.24 billion internet users, just under half of the world’s total.
A contrasting similarity between the above data and recently released list of most corrupt countries can be observed.
A world map of the 2014 Corruption Perceptions Index by Transparency International which measures “the degree to which corruption is perceived to exist among public officials and politicians”. High numbers (blue) indicate less perception of corruption, whereas lower numbers (red) indicate higher perception of corruption.
If you look closely, it does not take much to interpret that the countries with higher percentage of internet user’s population rank lower in corrupt countries list. Outside of Europe, North America and Oceania, only five countries have over 80% of the total population online. Those countries are Japan, South Korea, Bahrain, Qatar and the United Arab Emirates, all low in corruption level.
Government organizations must explore new ways to cope up with the challenges of corruption by digitalizing its services for lighter tax loads, less administrative waste, transparency, professional accountability, and better community services.
Scouting, Recruitment, Player administration and Management for statistical research and service models is always a tough task to account for as a Sports & Statistics Management Industry player. Solutions that truly understand the sport and has the ability to account for real problems.
Sports – the greatest physical poetry, enrich lives of all of us. There is an urgent need to develop statistical models to measure player value, forecast future performance, and answer questions about game strategy and tactics.
Increasing regulatory and security requirements, security concerns and mobility have brought forth a new set of challenges for the industry in last couple of years. Emerging from cost pressure turmoil, clients in the Banking, Financial Services, and Insurance (BFSI) industry are looking for strategies aimed at improving risk management mechanism efficiency and multiple regulatory frameworks. It is an opportunity for financial institutions to differentiate themselves with a unique blend of technology and service operations to support its businesses.
- Increasing regulatory and security requirements
- Providing superior levels of customer service
- Managing price pressures with greater efficiency
- Increasing the penetration of banking in rural areas
- Tackling demand-supply mismatch
- Credit disbursement to the priority sector
- Maintaining asset quality
- Improving risk management mechanism
- Improve compliance and security through an integrated and flexible solution.
- Optimize risk-reward outcomes by gaining a comprehensive, real-time view of your organization’s risk profile.
- Consistent user experience with strong analytic capability.
- Sound, stable infrastructure for improving risk management mechanism efficiency.
- Strategic initiatives for creating innovative delivery models
- Solution to help financial institutions reduce time-to-market
- End-to-end coverage assurance of functionality in the testing application phase
- Simplify regulatory compliance, using a single system to manage your compliance requirements and activities.
- Enhance productivity and efficiency across the value chain.
- Facilitate greater communication and collaboration across business units and locations.
By delivering scalable services, we manage and execute strategic initiatives, creating innovative delivery models. We support mission-critical infrastructure and banking software applications that pull insights from data to help you better engage with users and customers.
We know that the world is moving faster than ever. With the right technologies in place, you can grow effectively, respond quickly to seasonal fluctuations, and outpace the competition. And to do all that, you will need the helping hand of technology to reform and redeem your business from the clutches of mediocrity and low growth.
Explore the potential of your business growth with technology. As communication and information travels faster and faster, the world seems smaller and smaller, and this has large implications for the way we conduct business. Storing important in files on a computer rather than in drawers, for instance, has made information easily accessible. Using e-mail allows businesses to communicate and send these files quickly to remote locations outside of an office.
Wireless Internet, cell phones have made it easy to work from home – or for that matter, from the beach. The fact that it’s easy to work from the beach compels people to do so. On the flip side, people also feel compelled to use Internet access at work for personal reasons. In this way, technology allows workaholics to work and slackers to slack.
Ensure a “Mobile First” Business with us.
As your mobile solution partner, we help you to achieve and realize your mobile potential. If you want it, we will build it. Where others struggle, we succeed.
Avail end-to-end strategy and services to address the challenges of your business going mobile. Our extensive experience and superior capabilities offer best of mobile solutions to help you achieve strategic business objectives. With years of experience showcasing deliveries of performing solutions to complex problems of varied industries, we are ready to empower and engage you with our Mobile Solution’s fulfilling results.