Online Policy Issuance Platform for Leading Insurance Company

Industry

Insurance

Technologies

ASP.Net 4.6 | ASP.NET MVC 5.0 | ASP.NET Web API 2 | Angular JS | Oracle 12c

Client

One of India’s largest insurance companies with a revenue exceeding ₹1000 crores. The client offers a diverse range of insurance products across multiple lines of business (LOBs), including Home, Travel, Rural, and Commercial insurance. With a robust presence through multiple offices across India, the company operates a centralized, automated business process from consumer engagement to policy issuance.

Challenges

The client faced several challenges in streamlining their policy issuance processes:

Lack of a unified platform for intermediaries and agents to issue policies in real time.

Limited mobile-friendly solutions for on-the-go customer engagement.

The need for integration with over 20 backend systems, including data warehouses, to enhance operational efficiency.

Complexities in displaying multiple insurance product options for customers and agents.

Solution Provided

Synoverge developed a comprehensive, purpose-driven web application tailored to the client’s needs. Key features of the solution include:

A centralized, mobile-friendly portal enabling intermediaries and agents to issue policies in real time.

Integration with over 20 backend systems, including a data warehouse, for seamless data flow and process automation.

User-friendly interfaces that simplify the selection and display of multiple insurance cover options for customers.

Robust security and compliance measures to ensure data protection and adherence to industry regulations.

Results

The implementation of the real-time policy issuance engine delivered significant benefits:

Enhanced operational efficiency by automating data collection and policy issuance processes.

Improved customer satisfaction with a mobile-friendly platform enabling faster service.

Increased productivity of agents and intermediaries through real-time access to policy details and issuance capabilities.

Streamlined identification and resolution of implementation challenges, leading to continuous improvements.

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