Intelligent Policy Renewal
In commercial insurance, policy renewal is a critical aspect of underwriting process for policy issuance / renewal. Keeping hyper-automation at the core, LTIMindtree’s Automated Policy Renewal Solution leverages LTIMindtree’s own Cognitive Data Extraction Platform, Mosaic Agnitio, coupled with RPA to extract data from highly complex unstructured / semi-structured documents and enables RPA to update agency management system for the final renewal in the system, thereby increasing the overall operational efficiency and enhancing customer satisfaction.
Solution highlights
- Manage multiple carrier and highly complex unstructured / semi-structured documents
- Built-in data review and approval mechanisms
- Rule-driven processing and ease of integration with core policy admin / agency management systems
- Flexible & configurable workflows
What value does it bring
- Increased operational efficiency
- Reduced quality check effort
- Better adherence to SLA & regulatory compliance
- Increased customer satisfaction
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Experience LTIMindtree’s Intelligent Policy Renewal Solution - For the Modern Age Digital Breed of Smart Insurers
The commercial insurance business often demands the agents & brokers to review large, unstructured, highly complex financial documents every time a policy is renewed, followed by the mundane and error prone task of updating the agency management system. It is therefore imperative to automate this process and redeploy the back-office team on higher order tasks that add strategic value.
Keeping hyperautomation at the core, LTIMindtree’s Intelligent Policy Renewal Solution leverages LTIMindtree’s own Cognitive Data Extraction Platform, Mosaic Agnitio, coupled with Robotic Process Automation for increased operational efficiency and enhanced customer experience.
