Bridging the Gap between Physical and Digital with IoT Solutions

Abstract

The Internet of Things (IoT) is here! You can remotely monitor millions of devices and analyze each one of them, saving billions of dollars. Coforge can help you explore IoT and navigate your journey with IoT solutions. We help carriers accurately classify and assess risks based on actual device characteristics, provide personalized products with enhanced coverage, use real-time information to understand hazardous conditions, and better manage the claims process with our IoT solutions.

Building a Smart, Secure, Connected World

IoT, a web of connected devices, machines, people, and organizations has had a disruptive influence on the hitherto static P&C insurance industry. By fundamentally changing the way consumers interact with insurers, IoT offers a wealth of relevant, real-time information about consumers and their physical assets. To successfully leverage IoT, insurers need to:

• Invest heavily in mechanisms for data collection, data management, and data analytics from sensors
• Build an IoT ecosystem for capturing data from various connected devices
• Build strategies for managing large volumes of data generated by IoT devices that are flexible and scalable
• Use data to improve insurance value propositions and monetize them for third-party companies
• Deliver IoT-linked insurance and support services by partnering with platform owners (or participating in platform owner’s data marketplaces)

Coforge’ IoT solution enables our clients to understand, capture, and utilize critical data elements from IoT-enabled devices. We use our vast insurance domain expertise and technical experience with IoT to utilize captured data to perform in-depth analytics to gain meaningful insights to help transform business decisions. Our exposure to various IoT devices and protocols, along with data analytics expertise helps our clients move in the right direction with their business roadmap.

We also leverage Natural Language Interaction (NLI) platforms to hold sophisticated, meaningful conversations with electronic devices operating on any platform.

Our Capabilities

To enable you to leverage the true potential of IoT, we offer:

Data Services

• Discover, collect, and store data
• Provide data to subscribed parties

Product Integration Services

• Integration with custom enterprise solutions

Analytics and Digital Services

• Deliver actionable insights
• Visualize data
• Provide consumer-facing apps

System Integration Services

• End-to-end stack implementation

The Coforge Advantage

• Dedicated IoT lab with requisite infrastructure
• Experience in connected solutions
• Experience with leading carriers in supporting IoT innovation strategy and creating tangible business impact
• Cost-effective solutions developed using Open Source tools and technologies
• Easy merger of external data with internal company data for improved accuracy of predictions
• Easy self-serving visualization with drilldown capabilities for business users
• Better underwriting abilities using relevant data and trends, reducing loss for your customers
• Ability to aggregate and analyze huge amounts of unstructured data from multiple sources to offer actionable business insights