Insurance

Insurance Industry


A new wave of disruptions and upheaval is transforming the world of insurance services. Consumerization is altering how insurance companies engage with their clients. Analytics and the Internet of Things are redefining how risk can be measured, and clients rewarded. The Cloud is transforming what’s possible. Regulations and security concerns are increasingly harder to tackle when confronted with the need for speed, agility and innovation. Huge opportunities and massive threats lure, as carriers position to take business to the next level.

 

Overview

Softtek’s insurance practice offers IT consulting, operations management and solutions for insurance leaders. From software development, quality assurance, risk/compliance and audit support to infrastructure modernization, transformation and management, Softtek’s Insurance practice augments the CIO’s ability to manage complex portfolio of applications, while helping reduce costs, streamline operations and create or enhance mobile, web and digital assets to drive incremental revenue and market share.

 

What is value?

For our more than 10 leading global insurance providers currently partnering with Softtek, value means:

  • Creating next generation applications faster through agile development and quality assurance services
  • Maximize the throughput of development capabilities and minimizing costs through managed development capacity models that compensate peaks and valleys in demand
  • Lowering the costs of existing operations and funding innovation through managed infrastructure and application services
  • Transform operations, processes and client experience through a combination of cloud, mobile, analytics and development services
  • Increasing resiliency, compliance and quality through managed testing and quality CoEs
  • Reducing cyber-threats and secure digital operations through specialized security services
  • Modernizing the application portfolio through application portfolio modernization services

Sub-Services

Integrated portfolio of services covering:

  • Application Development & Maintenance
  • QA & Testing
  • Enterprise Package Implementation
  • Core Insurance platforms and systems
  • Technology Infrastructure Services
  • Application security & compliance
  • Procurement BPO

 

Why Softtek

Proximity As insurance organizations become agile organizations, they seek partners that can help them meet this new need for speed and innovation. Softtek is the obvious choice for Nearshore delivery, with teams delivering services and interacting with insurance teams during regular business hours. Geographic proximity, cultural alignment and agile –yet proven and robust- methodologies result in more productive teams and faster turn around.
Experience Softtek's insurance practice serves a growing list of insurance carriers that require a strategic partner that understands the unique challenges, regulations and business drivers of the insurance industry. With an impressive list of leading global insurance organizations, we have consolidated specialized knowledge that ensures quick onboarding and delivery of new initiatives or ongoing infrastructure and application management engagements.
Maturity As a highly regulated industry, Softtek understands the complexity of the back office and front office operations of large, multinational insurers and its partner ecosystem. Our focus on process maturity, proven governance models, industry certifications and understanding of the insurance regulatory landscape ensure successful engagements and long term partnership value creation. 
Focus on the Americas Softtek has extensive coverage across the Americas. From Canada and USA to Argentina, Softtek can roll out to and deliver services from lower cost nearshore locations. Softtek can help support regional operations across the entire continent, or deliver its services from within the US and Latin America, eventually augmenting our capabilities with our India and China delivery centers.
Diversification Softtek's focus on the Americas enables global carriers and insurance organizations with an effective way to diversify operational and geopolitical risk. By introducing a nearshore component to a global delivery strategy, IT vendor management and sourcing can lower delivery risks.

And by focusing services engagements on productivity and outcome metrics - not just rate cards – insurance leaders can compare the return on investment of different service delivery models, locations and approaches for higher return.

Learn More

Case Studies

  • Holistic Program Detects, Corrects and Prevents Application Vulnerabilities for Multi-Industry Fortune 10 Conglomerate August 2010 English
  • Money Transfer Business Sees 50% Growth in Transactions, While Reducing IT Service Costs by 35% August 2010 English
  • Software Quality Assurance for the Insurance Industry August 2010 English
  • Modelo Holístico Detecta, Corrige y Previene Vulnerabilidades en Aplicaciones para Conglomerado Multi-Industria del Fortune 10 August 2010 Español
 
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