For many insurance providers, business in the current climate is a constant battle with complex processes, outdated legacy systems, inefficient working, ever-tightening legislation, a new breed of uber demanding customers and an influx of agile, digital-born competitors.

In today’s hyper-competitive and fast-changing marketplace, enterprises must pursue digital transformation to maximize business agility and create an ideal user experience.

Coforge’s AI Service Line has identified high potential areas within Insurance domain that can be optimized with Artificial Intelligence. These areas can provide significant savings and/or increase top line for the client. Please find below The insurance value chain which can be addressed with Artificial Intelligence is given below.

Coforge’s TRON is an integrated automation platform that consolidates innovative technologies, practices, and tools for business transformation—delivering more value. Leveraging advanced technologies like Robotic Process Automation (RPA), Analytics, Machine Learning, and Artificial Intelligence (AI), TRON platform enables enterprises to deliver business agility, selfenablement, and superior experiences.

Underwriters are no longer just responsible for risk selection and pricing, they are now expected to Support Sales function and increase new business. The information used by underwriters can vary widely. Also, underwriting actions are not always truly risk-based, but instead influenced by Market dynamics.

The Covid-19 situation is a good example of the need for SMB Assistance loans. With governments around the world announcing new relief loans and schemes on a weekly basis, lenders are inundated with thousands of loan requests. These situations mandate the need for smart and agile loan origination systems that can adapt to change and cater to high volumes, in real-time.

Coforge‘s Appian Practice delivers custom applications, leveraging the latest Appian versions and its features to help organizations achieve optimum return on their Appian investment.

Coforge’s Virtual Application Review (VAR) is an Appian application built to automate the Appian Code Review Process. Code reviews can be very manual, time-consuming and prone to human error. What’s more, these reviews are often skipped or solely based on a lead designers discretion, creating a mismanagement of expectations and deployment issues.