Insurance
Insurance enterprises are faced with a new business landscape: diversified channels, varied distribution and changing demographics. The technology landscape, however, is not-so-new: maintaining legacy applications is getting costlier, budgets are limited, and IT isn't delivering the returns it should.
Succeeding in this new environment calls for insurance carriers to bring new thinking and new technologies into their existing landscape, and go fortified into the next generation of business
We are a trusted business solution provider with top global insurers. We ensure transformational success through our integrated offering of service lines, which encompass consulting, package implementation, outsourcing, technology, infrastructure and process management.
Global insurers see an increasing need to expand in core and emerging markets, create innovative products and services for changing consumer demographics, optimize costs while meeting stringent regulatory norms. Neo Rays solutions accelerators, insurance IP, end-to-end consulting services and flexible global delivery models have been instrumental in delivering project success for our insurance clients.
Learn about the tangible business benefits we have delivered to our global partners.
Neo Rays has successfully delivered business benefits to its global insurance partners that include:
- Transformation of billing and collections for the Insurer: handling bills annually and generating additional revenues annually through enhanced customer service.
- Running the operational system for life insurer: maintaining policies and generating insights from the world's largest insurance warehouse.
- Preventing leakage in recoveries for insurer: Using IP based consulting and predictive modeling to increase case detection from 0.87% to 13% in four months.
- Providing a Single View for 30Mn customers across Life, Pensions and Annuities lines of business, thereby improving customer service, and cross-sell/ up-sell capabilities.
- Increasing conversion rate by over 300% for direct auto purchase.
- Enabling 50% reduction in support and maintenance costs of critical legacy systems
