The global insurance industry relies on IT solutions for bond management, claims and billing. With the right technology, companies can serve their internal and external stakeholders more effectively, driving effective risk management and business performance.
Here is how Mindtree helped a market leader in property-casualty and general insurance consolidate its bond processing systems for lower cost and improved service.
The customer had multiple bond processing systems leading to inconsistencies in reporting, and additional costs from software and hardware maintenance. The overlap also caused productivity issues and affected organizational agility.
The insurer therefore decided to retire one of its surety systems and institute major changes in the other system to support more effective functioning. Mindtree was chosen to help:
Mindtree collaborated with the customer to migrate surety processing data to the target system. Simultaneously, we enhanced the surety application to help users manage, control, analyze, and report on existing and new businesses.
The project therefore had two tracks: one to transfer existing data; and a second to develop new system functionalities. Mindtree succeeded in delivering both tracks with high quality and on time.
Solution highlights included: