The Emerging Paradigm for New-age Insurance

De-Risking through Re-Imagining Cloud

BrainScale’s insurance offerings aim to address the twin challenges confronting the industry:

  • Manage modernization of legacy technology platforms: Seeking to maximize the returns on past technology investments overlaid with a clear roadmap to modernize
  • Stay relevant in an increasingly digitized world: Rapid adoption of transformative technologies to meet the needs of the digital-age consumers

Designed to transform the value chain across the Insurance life cycle, BrainScale’s suite of services and solutions is based on a digital transformation strategy centered around cloud adoption, microservices and data democratization:

Cloud Adoption

Pioneer in Microsoft Azure, BrainScale has managed enterprise cloud migration programs with its with industry leading cloud orchestration solution AZcop and AZcop ARC. With its library of more than 400 scripts dealing with Governance and Security assuring seamless management and migration from on-premise to cloud platforms for Insurance sector

Microservices

Insurance companies have records spanning multiple years and in the case of life insurance, it could be a few decades worth of data. Creating micro services could be a game changer to incrementally chip away functionality from older systems. As a leader in implementation of high end computing infrastructure & Monolith to Microservices transition, BrainScale is well positioned to lead your agile transformation using this path-breaking framework

Data Democratization

Leveraging industry accelerators, the common data framework aims to aggregate data from disparate and siloed enterprise data as well as external data across the insurance life cycle and products. By providing a consolidated view of all pertinent information around claims, this data set is available in a consistent manner for Machine Learning driven claims analysis such as Trend line or Fraud analysis and to improve future pricing

As a Services company with a Solution orientation, BrainScale is constantly extending, customizing and adopting its suite of framework and tools to meet the needs of the new-age insurers whether in automating processes or leveraging emerging technologies for market differentiation

Enable a better Claims experience for Customers

Create IOT device network to better profile accidents or insurable events. Leverage the capacity of IOT devices to pump information at high volume to profile usage of device/app for critical events. Cloud based deployment helps in delivering OTA upgrades and reduce dependencies on gadgets & its calibration
WVD technology is particularly relevant in the current Pandemic era. It empowers field agents/ surveyors to connect with home office or their clients using Teams based integrated on-boarding assistant. Teams not only gives a face-face interaction with the customers, but will also enable field office to use collaboration, Bot enabled mechanism to get chat like response on customer policies updates. Ideal for reporting FNOL, submit claims, track status of processing, provide real time interactions between adjudicators, customers and claim dashboard analytics.
Recognize and classify extent of damage for a house roof, car accident or water flooding in the basement through image recognition processors. This capability can be enabled for 2nd order of verification or can be used for straight through processing for low value claims ensuring a faster claims settlement and better fraud protection

Solutions for Comprehensive Risk assessment and Intelligent underwriting

Recognizing the need for a less invasive underwriting experience for customers, BrainScale’s Digital Checklist Tools enables improving the efficiency of information gathering without compromising the risk assessment. Designed as an intelligent questionnaire & checklist web application, the tool facilitates accurate information capture for better risk assessment of customers based on analysis of historical internal data and dynamic analysis of external data.

Policy Administration simplified

Robotic Process Automation enables quick scaling of throughput capacity by launching agent’s desktops in the cloud with RPA tools. Proven cost effective model for supporting high volume of month end processing including servicing new business enrollment, dashboard reporting and monthly customer statements

Orchestrate a set of micro-services for discrete modules to be connected yet different from Legacy Systems to incrementally take away the functionality from Legacy Systems. The workflow automation engine is a cloud native application capable of scaling up to handle large volume of transaction flow and configurable to the specific needs of P&C, Auto, Life and Specialty. Designed based on years of experience on process automation for large service advisory enterprises, the framework supports the need for quick introduction of products while managing customer centricity and regulatory compliances

The document management platform combines well recognized Microsoft cognitive AI / OCR technologies such as Microsoft’s form recognizer and in-house machine learning algorithms to streamline the process of data extraction and processing . As an integral component of the workflow automation, the document management platform has been used extensively in workflow and unstructured data intensive industries for advanced capabilities in contract checking, documents creation and distribution

Advanced specializations: