Core Platform Transformation and Consolidation have surfaced as a top priority for the Lloyds and London market insurance carriers. The Insurance industry is seeing a massive technological overhaul and owes this rapid shift to changing business models, renewed product centricity, and evolving customer expectations. This revamp has risen mainly due to legacy systems in need of transformation, to significantly improve the system value chain and offer better unified experiences to enterprises as well as its customers.
Coforge is revolutionizing the Lloyds and London market by modernizing ageing business processes and improving the quality of data and associated technology architecture. We specialize in core platform transformation, including policy administration systems, billing, claims, reporting, and surrounding systems. Our innovative solutions provide the agility, scalability, and cost-effectiveness that businesses need to succeed in a rapidly changing market. We help insurers accelerate their transformation journey, drive operational excellence, and reduce time-to-market.
Coforge’s experience in Core Platform Modernization and Transformation helped create an industry-focused framework that delivers the best business outcomes while optimizing costs and business functions. Our framework offers the following business solutions for our clients:
- Consolidation strategy, assessment, and roadmap.
- PAS Conversion and Transformation (PACT) framework.
- Decommissioning and version upgrades.
The core transformation offering helps open innovative possibilities to:
- Embrace innovative technologies that develop potentially disruptive ideas
- Commit to innovative ideas via APIs with an ecosystem of partners and InsurTech alike.
- Experience freedom to innovate by scaling core systems.
- Foster flexibility and standardization in platforms, analytics, data, and ML services
- Inculcate agile operations and pay-as-you-go models.
We provide our clients with an entire spectrum of development and maintenance services using the dual-shore model. Our offshore and on-site teams collaborate to implement new systems and transform legacy insurance policies with the highest standards of quality assurance.