Pursue new digital business models and improve and protect your customers’ health, property, and business with insurance solutions from SCS.
The new network economy will coalesce around fewer ecosystems
Insurance is a prime digital network example, as it touches life, health, property, and travel. By 2025, many insurers will be engaging with cross-industry ecosystem providers and defining opportunities, beyond managing risk.
New business models to renew customer experience in the Insurance industry
The Internet of Things (IoT) has changed the way industries function. In the insurance industry, non-traditional players now have access to large volumes of customer data and are able to provide holistic pre-purchase and purchase information, albeit in an unstructured form.
ShanBioSys is supporting its life insurance clients in their transformation journey to become a Leading Next gen Insurer, through Unique Business-Aligned IT (BAIT) model to provide best-fit life insurance solutions while considering the associated impacts
Collaborative approach that improves clients’ performance while significantly containing costs Centers of Excellence (CoE) to support in building, creating differentiated assets for its partner’s product – accelerating time-to-market
This is a huge advantage for customers in the pre-purchase stage, and this new empowerment has made them more demanding, aware, and considered of their insurance requirements.
Our insurance offerings facilitate insurers rethink their strategies to cater to these new discerning customers by renewing their analytics infrastructure using solutions such as the ShanBioSys Information Platform (SIP) – our big-data-in-a-box package.
30% reduction in time to market for new products by companies that institute formal lifecycle processes.
With industry-relevant expertise and a historical track record, our solutions enable insurers to:
Adopt digital tools for a clearer understanding of customer specific requirements
Help enhance processes within the industry
Provide seamless customer experiences
ith the shift of traditional insurers’ needs to digital insurers, there is greater scope for increased flexibility and agility, faster and more efficient back-office processing, and an overall readiness for disruptions.
Our solutions also translate into clear cost benefits. We do this through the:
Automation of processes to make them more efficient by creating more straight-through processing (STP)
Creation of customer self-service systems to reduce the burden on back-office operations.
Looking ahead, the IoT is shifting risk profiles through the use of new technologies like connected cars and connected homes. Here, insurers need to renew themselves to be future-ready. We have the capabilities, tools, and experience to help insurers better understand their customers’ risk profiles, and create tailored products to suit their needs.
Insights
Learn from our experts how the Insurance Industry is getting a facelift
Explore our Services, Solutions and Products that can empower your business.
Application Development and Maintenance
Cloud
Insurance Business Process Outsourcing (BPO) services
Strategic Business Consulting
Validation Solutions
Property & Casualty
To help achieve increased profitability, flexibility, and enhanced customer experience, we provide insurers with transformational and cost optimized IT services.
Pensions and Annuities
Rationalize IT strategies around pension services and leverage the full potential of technology investments to decrease time to market.
Policy Administration
PAS services facilitate insurers reduce their overall expenses, improve their general cycle times, and bolster customer acquisition capabilities.
Life Insurance
SCS facilitate insurers develop alternate distribution channels to maximize their customer reach, and modernize and align their life insurance systems.
Claims Management
SCS’s solution integrates best-of-breed products, proprietary insights, tools, and service competencies to reduce claims’ cycle time, improve loss ratios, and enhance customer retention.
Claims Transformation
Data Virtualization and Visualization
SCS Road Map for Insurance
Explore our insurance industry road map to learn about the digital transformation activities that are underway, like augmenting human understanding with machine learning and AI, as well as the future direction of our insurance suite.