Insurance companies are faced with the relentless challenges today to reduce operational costs, improve service and transact business more efficiently and smartly be it in the area of sales or customer service. Adoption of the right tools and technology equips many an insurer, a broker, distributor or an advisor to do business more efficiently leveraging the benefits technology offers. Most insurance companies have invested in process automation in areas such new business quoting and binding, policy management, policy services, claims processing to name a few areas. Having said insurers are still facing challenges despite investments in areas such as efficiently computing premium, processing claims efficiently, reducing fraud, adherence to regulatory and compliance and re-insurance.
Large insurers specially in the developed regions are still saddled with legacy core policy administration systems that pose a major challenge in terms of supporting customers transact business in real time or helping business and customers with straight through processing. Given the increased adoption of social media and mobile significantly by customers, brokers, and channel partners in every aspect of their ransactions, insurers have no option but to modernize their legacy core policy administration systems. Truni can help Insurance companies and their partners in their plans to build modern transactional applications leveraging their legacy policy admin systems and at the same time use the mobile, cloud and digital channels available today for seamless business enablement.
Claims processing has always been a critical area for insurers and most large insurers have embarked on claims transformation programs not to just replacing legacy claims but also to improve process efficiencies for claims and also to service the complex products insurers are launching specially in the commercial insurance space in P&C (GI) and likewise in Income Protection in the Life insurance space.
Insurance companies constantly try to improve automation where possible given the need to improve process and service efficiencies and reducing costs. Truni leadership has spent more than a decade in engaging with several insurance companies offering state of the art insurance software automation solutions based on SOA technology, Component architecture and Industry standards such as ACORD and IAA.
Truni focusses on certain key process automation areas both in Life and P&C ( GI) market offering solutions working with partners that bring the best of breed of technology and domain expertise. Some of the solutions Truni can bring to the table are in the areas of Claims Management, New business Portal solutions both for Life and P&C (GI), Customer Self Service Portals, Product Configurators, Agent and Broker Portals in addition to offering experienced technology consultants with Insurance domain experience, process consultants and business analysts.
Truni works closely with its partners offering these business critical solutions to the insurance industry given its expertise in various technology platforms, product offerings and third party solution providers helping customers as a trusted consulting advisor. Truni would ensure the customers do not get sold by various vendors with all the technology buzz they try to influence the IT leadership with, while the actual business requirement may not necessarily warrant large investments specially in the areas of process automation and application integration.
Truni would strive to get the right solution configured based on the customers budget and long term business needs at the same time leveraging existing investments for re-use and scale as appropriate.