- Digital Technologies
- Digital Operations
- Digital Experiences
- ABOUT US
Insurance companies across the world are re-engineering their business models to ensure quick turnaround time while delivering quality services, operational efficiency and throughput. The key priorities for insurance companies include addressing challenges around regulations, expenses and creating customer-centric products and services. Towards this goal, they are taking all possible measures for deploying innovative technology to improve business processes and streamline legacy applications.
Datamatics understands the needs and challenges in handling insurance processes such as new business insurance, underwriting, claims management, policy servicing, onboarding, no claim bonus, risk score, claim adjudication, claim processing, verification & validation, disputed claims resolution, regulatory compliance, anti-money laundering curbs, etc. Datamatics has the expertise to integrate insurance back-office automation with modern technologies including robotic process automation (RPA), business intelligence & analytics, artificial intelligence / machine learning (AI/ML).
Datamatics enables its institutional customers to strategically integrate statutory compliance checks in their day-to-day processes and take corrective and preventive actions to curb fraud and money laundering activities in the wider ecosystem. The RPA, NLP, and AI / ML powered checks integrated throughout the insurance digital transformation pathway ensure that fraud and money laundering are eliminated from the insurance processing lifecycle.
Enhance customer experience by seamlessly integrating front-end and back-end processes
Automate the insurance lifecycle processes right from underwriting, policy issuance, premium chasing through claim adjudication and claim processing
Re-engineer business models and expedite processes to improve operational efficiency and throughput
Increase productivity, accuracy and speed with TruBot, an enterprise-grade, multi-skilled bot
Improve the scope of automation by integrating with a plethora of technologies such as intelligent data capture, artificial intelligence / machine learning, analytics, streaming media, etc.
Improve real-time decision making capability through intelligent data processing and analytics by using high volumes of data stored in cloud, data lakes and other data management systems
Transform your digital landscape to become more agile and scalable with the use of state of the art technology solutions in enterprise portals, enterprise content management, cloud, etc.
Improve accessibility, productivity, and customer satisfaction through anytime anywhere access in a safe and secure environment
Improve customer interactions, faster product introductions, fraud prevention & detection and build many more decision support systems across multiple enterprise touchpoints
Decipher patterns evolving from different demographics and geographic locations to estimate risk exposure
Enable customers to adopt ‘mobile first’ approach for enhanced customer experience and rebuild operating models for your businesses in a digital world
Offer differentiated and human centric digital experience as well as life time value with to customers with wearable technology, connected devices, and connected digital experiences
An integrated robust and scalable cloud-based framework which automates, streamlines, and digitizes the complete provider onboarding, credentialing, and contract management process
Real-time connect with multiple systems
Offers role-based accessibility as well as easy search and retrieval of the integrated systems
Improve compliance and audit as well as productivity and efficiency of resources
Enhance your business by gaining insights and informed decisions through a better understanding of your consumers' needs and wants, their purchase behavior and path-to-purchase journeys across both digital and offline touchpoints.
Conduct Secondary Research around global trends and macro-economic parameters
Perform end-to-end customized research & Intelligence around Competition, Consumer & Market trends right from survey programming, data collection and data processing to insights, analytics, reports and dashboards
Build advance analytics and decision models, such as policy lapsation, fraud detection/ prevention, claims and denials analytics, spend enhancement, affinity based targeting, etc.
Improve customer experience with superior customer interactions across the various touchpoints. Omnichannel customer management solutions provides consistent and effective customer support to enhance their satisfaction and loyalty
Leverage state of the art digital customer management solutions like AI/ ML based chatbots, Auto IVR, RPA, NLP, deep analytics, etc. for strategic competitive advantage
Build customer management solutions, such as lead generation & acquisition, fraud detection & prevention, collections, risk indicators, dispute resolution, online support, etc.
Insurance businesses have complex workflows and processes. They include new business insurance, claims processing, policy servicing, etc. More tedious processes, such as, onboarding, underwriting, no claim bonus, risk score, claim adjudication, claim processing, verification & validation, disputed claims resolution, regulatory compliance, anti-money laundering curbs, etc., require multi-team involvement.
Automation can handle simple to complex processes. The simpler ones can be automated by using Robotic Process Automation (RPA) and the rather complex ones require Artificial Intelligence / Machine Learning (AI / ML) infusion in strategic layers, that is, by using Intelligent Automation. The bottom line is that all repetitive and rule-based processes can be automated in any domain including Insurance.
Wherever financial transactions are involved, there is scope for fraud, unless and until specific verifications and validations are performed at crucial points in the workflow. AI / ML and Data Science techniques allow to perform auto-validations at key points as a part of the workflow. A separate stream of Data Sciences, that is, Fraud Analytics is instituted to check the rampant proliferation of frauds and money laundering activities. It uses a variety of techniques such as anomaly detection, machine learning, distance functions, k-prototypes, parallel computing, etc. to nip the frauds at inception.
Yes. Business Intelligence, Analytics, and Data Visualization tools can be directly appended to the databases. It improves the capability of decision making by manifolds. Datamatics TruBI offers intelligent real-time data-processing and analytics with data that is stored in enterprise-grade databases, cloud data bases, data lakes, and other DMSes.
Datamatics TruBI has DIY features that supports 360 view of a single version of truth. Data Visualization techniques allow an interactive experience over a highly scalable platform. The features allow the insurance personnel to take real-time decisions even while working with humungous data thus improving productivity by 60%.
eOffice paradigms are getting accepted over the globe due to recurrent occurrence of global show stoppers. As a result, businesses are increasingly making Digital Workplace or eOffice a part of business operations.
This paperless office model is powered by a cloud-based ECM platform at the backend and a device agnostic user interface, which can be integrated with all enterprise systems. This model can be customized for different business requirements towards a collaborative remote workspace.
This remote operations solution or eOffice reduces instances of misplaced files and papers and lack of traceability. It introduces agility and scalability in business operations and offers a future-proof business model that can be accessed anytime anywhere.
A high volume of data is generated in the Insurance domain during the lifecycle of a case. An insurance company manages millions of cases at any given time. Artificial Intelligence enables pattern analysis, which plays an important role in the case management. It not only improves customer interactions but also allows the placement of new products within different customer demographic groups. The pattern analysis also allows to estimate the risk exposure of the company.
The Provider Book of Records or PBoR is a cloud-based platform for end-to-end contract management and claim processing across the lifecycle.
PBoR reduces the risk of payment leaks, reduces the contract validation time, reduces claim processing time, enables faster audits, improves credentialing time, etc.