Project Brief
Insure 360 is a versatile responsive web application that empowers an insurance company to run its processes smoothly, reliably and efficiently. It leverages a lot of automation to ensure that there are minimal human errors, higher turn around time, increased customer gratification, and improved efficiency. It encompasses various modules like Lead Management, CRM, Policy Renewals, Auto Document Generation, DocuSign Integration, Payment Integration, Geo Risk Distribution, and like.
Client Background
Client is a large international insurance company serving business and individual customers across Europe with variety of insurance and related services.
React
Node JS
My SQL
MS Azure
Git
Docu Sign
Google Maps
Stripe
Business Challenges
- Client planned to replace the legacy software that was in use for several years. In the legacy software was giving inaccurate and unreliable premium computation that led to a lot of manual efforts and poor customer satisfaction.
- Several years of legacy data needed to be migrated into the new system using a different database schema and data modeling
- Fast and accurate premium computation engine was the requirement of the hour
- The processes involved a lot of duplication of data entries, requiring high manual involvement, and higher turn around time.
- Client wanted to boost the market share by increased customer gratification, faster delivery cycle, efficient claims handling and automated process management.
Solution Overview
- Cognisun engaged a team of dedicated expert software professionals comprising a Project Manager, a Solution Architect, 5 Software Developers, a Business Analyst, a Quality Analyst. The expert team intensively studied the existing software system, conducted in-depth client interviews and analyzed the functional and non-functional requirements
- Engineered an accurate, reliable and fast premium computation engine for the policies of various types based on the detailed insurance binders configured into the system.
Highlights & Benefits
Solution Highlights
- Multilingual solution in English, Spanish and German.
- The system supports multiple currencies EUR and GBP.
- An effective Lead Management module that helps client to efficiently track leads, supervise sales staff, and increase lead conversion ratio.
- Automated generation of documents for policies and claims for faster, accurate, and reliable business operations.
- Comprehensive reporting to help client measure team performance, sales volume, new policy on-boarding, renewal retention and like.
- Smart Data Analytics backed with graphical views to help the top management group evaluate the state of the business, know priority business segments, and garner valuable business insights
Business Benefits
- Approx. 110% rise in number of policies in first two years of implementation
- Rise in staff productivity by about 50% in first two years.
- 120% rise in the sales in first two years
- Improved customer retention due to fast, reliable and accurate policy and claims management
- Tap the online customer base through an interactive quotation and policy purchase module through the company website.
Global Presence
