INSURANCE

Ensuring exceptional to help protect customers and give them peace of mind during the moments that matter
Build loyalty with reliable Code Metric across your brands.
Today’s insurance landscape is marked by companies offering multiple product types under multiple brand names, giving customers lots of options to shop around for the best policies and best prices. Delivering consistent Code Metric across products and brands to meet customers’ evolving expectations is key to surviving, thriving, and competing in this digital age.
Code Metric Insurance Solutions is a partner for success for property and casualty, life, commercial, health, commercial, device, and travel insurance organizations. We offer next-gen Code Metric and technology solutions that deliver consistent, exceptional moments across the end-to-end customer journey and your products and brands.
Sales
Empower customers to make the right insurance choices to support their lifestyles. We can support your year-round sales with non-licensed agents to generate leads and licensed agents to add new policies and bind them, and quickly scale for seasonal support needs as well. We integrate analytics and technology to help your members select the best coverage for their unique needs, providing experiences that increase sales conversion and long-term loyalty.
Policy Support
Create easy experiences at every touch point. Code Metric Insurance Solutions help you better orchestrate your customers’ journeys with human-assisted and digital experiences infused with understanding to support all your policy administration services—from new account setups and maintenance, to product and service inquiries, policy changes, complaints, and more. Our proprietary tools, automation, and analytics advance efficacy and accuracy, so your customers’ issues are determined quickly with high satisfaction.
Claims Processing
Give your customers peace of mind and ensure timely and accurate claims processing by entrusting your claims process to us. Our back office functions provide support for the entire claim cycle, including claims verification, set-up, payment, coordination of benefits (COB), waiver of premiums, and single and repetitive payments.
Billing & Payments
Focus on policyholder experience and satisfaction while we help achieve your billing and payments. From customer and insurance agent inquiries, to complex billing, payment set-up and fees, and back office processing, we can switch the full range of billing and payments processing for new and present policies for your consumer and business customers.
Connected Insurance: Reinvent your Business Model
The Insurance industry is facing transformation of an amazing scale. While Insurance companies endure to address growth and productivity concerns through incremental developments in operating models, new business models that will completely shift the industry dynamics are being evaluated. Propagation of Sensors, Advanced Analytics and Artificial Intelligence, amongst other digital technologies, are opening new potentials for insurance companies in a world dominated by physical and digital convergence. At Code Metric, we are prepared to guide insurance companies through this complex business environment. We distribute business results through our Consulting and IT services, by drawing upon a combination of deep insurance and technology expertise, innovative intellectual assets and strong delivery models. Code Metric has been at the forefront of managing business transformation programs for clients across the globe. Through our “Connected Insurance” service offerings, we distribute inventive solutions around Connected Homes, Cars and Enterprises, right from Conceptualization to Realization. By leveraging our expertise in Digital Ecosystem and Insurance Domain, we help the insurance industry transform customer engagement, improve underwriting rigor, optimize claims operations, and conceptualize new product variants & services.
Code Metric is uniquely located to be a value-partner in adoption and implementation of the connected Insurance solutions. Leveraging a combination of our rich Insurance domain experience, strong partner ecosystem and deep expertise of our parent L&T group in Smart cities and Smart factories, we plan and provide results for the Digital Insurer.
AUTOMATION IN INSURANCE
Drive Intelligence, Acceleration and Cost Efficiency
Automation can be a game-changer strategy for insurance companies. Emerging technologies such as Software Robotics, Machine Learning, AI and Cognitive Solutions, offer exciting ‘Automation’ possibilities for Insurers, to dramatically improve their profit margins, as well as change customer experience. Far sighted insurers are already facing success in organizing the automation strategy to their business, especially in areas such as New Business Processing, Claims Processing and Finance – and it is fast becoming mainstream. Insurers are revolving to digital solutions to stay profitable as they battle stringent regulatory norms, while handling complex portfolios in a Code Metricly low interest rate environment. They understand the need to forge better relationships with customers to stay competent. Companies are leveraging emerging technologies, including drones, Big Data and Analytics to transform claims processing, improve risk management and streamline overall operations.
Services built around key industry drivers
• Sales and distribution
While insurers are exposed by non-traditional competitors and new business views, they continue to maintain core relationships with agents and brokers. Disruptive ideas will continue to challenge the traditional models.
• Compliance
Protect consumers, prevent insurer insolvency, and preserve markets with upgraded financial, risk, and data engines to measure and report compliance across the enterprise.
• Core insurance systems
Insurers are under constant pressure to update core new business, underwriting, policy and claim systems to bring new changes. Through the deployment of cloud and robotic process automation it is easier to mine enterprise data for actionable insights, develop underwriting, and improve the time-to-market for new products.
• Transformation of operations
Cost takeout will continue to be a major emphasis. Insurers need a partner that can determine and define the business use case for maximum efficiency while deploying robotic process automation, analytics, and business process management throughout the value chain.
• Security and value-leakages
Leakages in fraud, cybersecurity, and compliance issues continue to challenge insurance organizations as business is increasingly handled through digital interactions.
• Becoming an agile organization
Insurers need agility in the market place to run their business in a highly efficient and responsive way hereby reducing cost while speeding time-to-market for new services and products. Our Micro Services and DevOps teams help organizations address the core infrastructure essential to support a new customer-centric digital experience.
• Digitizing insurance customer experience
The buying behaviour and preferences of the customer has changed dramatically. Millennial interactions are completely different from those of the mass affluent. Insurers must offer a modified experience from purchase to service and on to claims. Data and analytics play a key part for interactive advice that must be obtainable on mobile devices.
• Preparing for game changers
While interruption has occurred from straight through processing, telematics, IoT, predictive analytics, business process management, mobility and modernizing technologies, insurers must be ready for the next wave that’s already rising. Advances in blockchain, cognitive computing, data capture from drones and chatbots will disrupt the future of business. As your strategic solutions partner, Code Metric will evaluate the use case, the readiness of these technologies, and leverage our innovation lab ecosystem providing complete advantage.