Insurance

Insurance Industry


Life: With the customer at the center of the business, the life insurance industry is shifting with the emergence of new business models and a challenging competition landscape. Established life insurance providers are threatened by new and agile players who are not bound by local regulations. Companies must not be blindsided by the newcomers, and ensure that their operations are flexible, sustainable and can expedite the development of new business models and customer-focused strategies.
Property and Casualty: Advances in technology, the emergence of Insurtech firms, and a new wave of millennial customers have disrupted the Property and Casualty Insurance industry. Traditional companies must rethink their business models and focus on new product development and offerings to compete with the new players and deliver to their evolving customer needs.

Overview

Softtek partners with leaders in the insurance industry, to help them build a modern and agile technology operational foundation that is sustainable in an environment where business models are constantly changing and evolving, and customer needs demand the most agile and technologically advanced systems possible. With the knowledge and expertise of a huge consulting company, and the flexibility of a small one, we help our clients in this volatile industry to reduce operational costs, optimize processes and enable the creation of new business models and revenue streams, always being able to change as the business needs demand.

Softtek Service Value

We equip our clients with a secure operational core of platform stability, systems integration, and application and infrastructure modernization. With optimized operations and automation-enabled service delivery, we enable the innovation agenda to improve asset efficiency and mobility, increase end-to-end visibility, and gain success with execution of new digital business models for today’s life, property & casualty insurance customers.

Industry
Opportunities

HIGH PERFORMANCE BACK OFFICE & OPERATIONS

  • Enterprise Mobility & Collaboration
  • Q&A
  • Legacy Systems Modernization
  • Procurement Services & Solutions
  • ERP (Finance, A/AR, Real Estate)
  • Predictive Analytics
  • Infrastructure Optimization & Support
  • Database Management

Why Softtek

Proven insurance capabilities Softtek has worked with some of the world’s largest insurance organizations, helping them execute flawlessly, enable their transformation agenda, and create next-generation experiences in record time.
Collaborative culture New agile approaches require tight collaboration and interaction. Softtek’s company culture is rooted on collaboration and co-creation principles. We act as an extension to our client’s teams, starting with an in-depth assessment of the current operating model and tailoring our services and solutions to be aligned to the business priorities.
Geographic coverage As insurance organizations evolve their business models and strive to become more agile, the need to partner with equally nimble companies with a high sense of urgency arises. Softtek provides comprehensive Nearshore support across the Americas, from Canada and USA to Argentina and Chile, complemented with delivery from Spain, China and India for global coverage.
Agile with discipline Our process advantage lies in effectively blending strong process maturity with proven agile approaches and principles. From Lean Start-Up (Softtek RunLean™) and Design Thinking to DevOps and Scalable Agile frameworks, we make work non-bureaucratic, outcome oriented and flexible.
Technology expertise Softtek’s Insurance team engages with our technology CoE to bring innovation to everyday experiences. Our CoEs include experts and knowledge across emerging technologies including: Mobile, Cloud, Machine Learning/AI, among others.
IT operations leadership Softtek operates and evolves complex application portfolios and service requirements for a diversity of industries, from one of the world’s best airlines to nuclear energy companies, to some of the most key global banks, financial service and insurance providers.

Everest Group - July 2014
Banking AO Services: The Big Bang Expansion in the Major Contenders Category! | Sherpas in Blue Shirts
The Major Contenders consisted of providers across all categories: global majors (Capgemini, CSC, Dell Services, and HP); offshore majors (HCL, and Infosys); regional players (CGI, Luxoft, Softtek, Unisys, and Virtusa); and tier-2 Indian players (iGate, ITC Infotech, L&T Infotech, Mindtree, MphasiS, Polaris, Syntel, and Tech Mahindra). Service providers in this category were willing to take risks, and were more open to exploring new outcome-based models to create differentiation in the market.

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

Insights

Media Coverage

Everest Group - July 2014
Banking AO Services: The Big Bang Expansion in the Major Contenders Category! | Sherpas in Blue Shirts
The Major Contenders consisted of providers across all categories: global majors (Capgemini, CSC, Dell Services, and HP); offshore majors (HCL, and Infosys); regional players (CGI, Luxoft, Softtek, Unisys, and Virtusa); and tier-2 Indian players (iGate, ITC Infotech, L&T Infotech, Mindtree, MphasiS, Polaris, Syntel, and Tech Mahindra). Service providers in this category were willing to take risks, and were more open to exploring new outcome-based models to create differentiation in the market.

Contact Us

 
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