Future of Insurance – Process Reimagination
Over three centuries, the insurance industry has evolved significantly due to technological advancements, regulation, and customer expectations. Initially reliant on manual transactions and paperwork, the sector saw improved efficiency with mid-20th-century computers. The 1990s internet revolution enabled online policy purchases and claims processing, enhancing accessibility. Recent digital transformations, including AI, machine learning, and big data, have led to personalized products and predictive risk assessments. Ongoing regulatory changes emphasize transparency, consumer protection, and financial stability, continually reshaping insurance processes.
To stay agile, business and IT leaders must be able to define the future of insurance by identifying the right interventions. LTIMindtree offers a framework to envision the future, a playground to rehearse, and detailed information to make a compelling case for process reimagination to build a sustainable future of insurance.
Key Features
Leapfrog upgrade analyzer
- Ready-to-consume persona-based customer journey maps to ideate new interventions and evaluate their impact on all concerned stakeholders
- Business capability maps and L4-level processes detailing all core and enabling functions of insurance, reinsurance, broker, and TPA entities
- An implementable value realization framework to assess, articulate, and convey the benefits of interventions
Leapfrog upgrade analyzer
- A ready playground to practice and test any new interventions in the LTIMindtree-powered micro labs
- Process discovery using AI-based, non-intrusive process mining/scanning tools
- Thoroughly evaluated InsurTech and a partner ecosystem to solve the business challenge and reimagine the future of insurance
Ready-to-consume persona-based customer journey maps to ideate new interventions and evaluate their impact on all concerned stakeholders
Business capability maps and L4-level processes detailing all core and enabling functions of insurance, reinsurance, broker, and TPA entities
An implementable value realization framework to assess, articulate, and convey the benefits of interventions
A ready playground to practice and test any new interventions in the LTIMindtree-powered micro labs
Process discovery using AI-based, non-intrusive process mining/scanning tools
Thoroughly evaluated InsurTech and a partner ecosystem to solve the business challenge and reimagine the future of insurance
The power of three - From idea to production in three weeks
Tool-driven approach to minimize documentation efforts
Jumpstart ideation process and customization wherever required
