Dineshkumar Shankarnarayan, Head – Digital Experience Offerings, Tech Mahindra said: “Alfresco’s cloud capabilities and digital business platform is synergistic with Tech Mahindra’s overall mission of serving the Digital Customer. Today’s announcement represents the expansion of our partnership to bring innovative digital solutions for Insurance companies. We consider Alfresco to be one of our key partners in helping our customers transition seamlessly to cloud-based service by making applications more usable and enhancing their overall user experience.”
Using the Alfresco Digital Business Platform as the cloud-native content management foundation (see IDC Technology spotlight: “Achieving Contextual and Value-Centric Customer Engagement in Insurance Through Connected Ecosystems”), Tech Mahindra is targeting insurance companies with the following four solutions that can help them reshape their operations and enable them to better serve their customers:
- Intelligent Risk Management Solution (IRMS) – a risk management framework that incorporates all aspects of risk management into a single solution, including risk monitoring, profiling, exposure analysis and management. The framework is designed to integrate with different
Policy Administration, Underwriting and/or Claims Systems to manage risk and provide insights into Underwriting as well as support loss control. Providers can use Sentinel to assess the coverage risk and claims for property loss, risk for life and property insurance using wearable products (or other IoT devices) coupled with analytics and artificial intelligence, and generate the possibility for new revenue streams using enhanced analytics.
- Zero Touch Underwriting – a fully digitalized insurance underwriting approach that eliminates all manual touchpoints and offers insurance providers with direct selling and improved straight through processing across channels and intermediaries.
- IntelliClaims – an AI-based automated claims processing solution that integrates with chat bots (for possible FNOL [First Notice Of Loss]) and backend documentation and processing systems, summarizes claims documents (including images), and suggests actions for Claims Handlers.
- IntelliChat – a self-learning NLP (neuro-linguistic programming) and AI-based enterprise Bot that can act as a smart assistant to help potential customers discover relevant coverage, answer questions, act as an intelligent guide around a provider's website, as well as help insurance agents with case creation.
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