Policyholder and Producer Experience Transformation

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Overview

Digital transformation involves re-imagining the way business is done utilizing digital technologies. It is imperative for Insurance companies to provide a strong customer experience to be competitive and distinguish their brand in the market. Recent insurance industry trends also indicate that customer experience is among the top three criteria for Insurers to be competitive. Mindtree's Experience transformation offering focuses on redefining engagement experience through a design thinking led approach across value chain (New Business, Servicing, Claims, Partner on-boarding) for Policyholders, Agents/Brokers, Claimants & Providers. The offering is supported by requirements accelerators and prototypes for visualization. Digital business models broadly involve four parts – Content (What is provided to customer i.e. Products, Awareness, and Service etc.), Customer Experience (How is it delivered i.e. Personalized, Omni Channel, Convenience etc.), Business Logistics (Visibility, Consistency, Proactive etc.) and Insights driven (Data driven intelligence embedded to process). All these components are packaged to meet the changing dynamics of a future Insurer through a re-usable framework known as MACAW Digital Insurance, offered holistically as a Digital New Business selling platform for assisted (intermediary facilitated) and non-assisted (customer direct) process applicable to both P&C and L&A Insurers.

Key Features

Mindtree’s offering for Digital Transformation includes Digital Pumkin Innovation lab led Design thinking workshops for Value stream mapping and re-imagination, Agile Implementation methodology supported by our re-useable MACAW Digital Insurance framework.

Mindtree’s deep business knowledge of the insurance industry and depth of experience in working in digital programs with adoption of newer technologies along with Mindtree Digital Insurance accelerator provides insurers ways to re-define their Customer experiences digitally.

The Digital Insurer Platform offers below features:

  • Macaw Digital Selling Prototype – Visualization of Guided buying & servicing experience powered by product & customer analytics and third party integrations for personal lines
  • Conversational Solutions – Voice & Chat bots providing round the clock collaboration through multiple channels
  • A repository of portal functional requirements list for life and annuity business thathelps jumpstart the digital engagement

Mindtree's experience in digital transformation for policyholders and producers includes:

  • Multi year IT program to drive Policyholder and Producer digital adoption through experience transformation for a leading L&A insurer
  • Customer and Intermediary experience transformation for a large P&C insurer operating across 80 countries
  • Claims transformation for Life, Accident, Health and Disability business for a leading supplemental insurance provider
  • 24 x 7 service model for contact center operations for a leading L&A insurer
  • Digital Transformation strategy definition and implementation of Customer portal for a large North American P&C insurer

Our expertise in transformation is enabled by our partner ecosystem which includes:

  • Microsoft
    • Strong Client reach - Global brand presence in most insurance clients
    • Expertise in Azure, Dynamics, PowerApps and Power BI
    • Industry accelerators and implementation in MS BOT framework, PowerApps
    • Rich experience of MS Dynamics led cloud transformation to improve customer experience for a Retirements administrator in Australia and a Mutual insurer in UK
  • Salesforce
    • Strong Salesforce practice through acquisition of Magnet 360
    • Key acquisitions aligns with Mindtree Insurance’s digital focus – Mulesoft, Tableau and Vlocity focused on industry specific solutions
    • Experience transformation for producers - wholesale distribution through Sales cloud implementation for a leading L&A carrier
    • Wellness management using Service cloud for a healthcare provider in US

Key Benefits

Key Benefits of the offering include:

  • Enhanced customer experience - Policyholders, Producers
  • Simplified process – Purchase, Servicing, Claims
  • Improved Operational efficiency, Process orchestration
  • Seamless & Omnichannel interaction for business information and transactions through multiple channels - portals, chats etc.,