Digital transformation in insurance is redefining end-to-end core insurance processes. In reaction, insurers, MGAs and brokers must embrace this transition and shift toward secure, compliant, and digitally driven operations to improve customer, partner, employee, and other stakeholder experiences while reducing operational cost. To assist insurers in their digital transformation journey, Damco has co-created future-ready, fit for purpose digital-first technology solutions for insurers, brokers, and intermediaries across property & casualty (P&C), life, pension and health insurance. As their digital partners, we have helped insurers achieve:
A reduction of 60% in insurance purchase completion process TAT and increased sales revenue targets
Successful identification of 90% of the fraudulent claims with reduction of 95% in fraudulent claims identification time through Business Intelligence software
Savings of over $2 million dollars annually in terms of maintenance and licensing costs of legacy systems which were replaced by InsuranceNXT-powered platform
Digital transformation in insurance industry is still in its infancy stage, posing a series of questions in front of insurers ─ should we start with entire IT overhaul or be selective, will the new digital system make other business sections obsolete, how would we get the right talent, and would they understand the minute nuances of our business? Add to this, the stringent regulations and budget constraints─ which makes it difficult for insurance companies to be customer-centric, innovative and profitable, at the same time!
Unique Challenges Demanding Insurers Attention
Delivering value across the entire insurance value chain
Tailored specifically for small and medium-size Insurers, Brokers and MGAs, Damco’s InsuranceNXT is a suite of technology services that successfully delivers the “Next” in your digital transformation roadmap and gives you an edge over your competitors. InsuranceNXT offers a range of technology-led services such as consulting, custom development, modernization, integration and implementation services powered by new-age technologies and platforms like Artificial Intelligence, Low-code, Automation, Salesforce, and Blockchain. InsuranceNXT delivers real value in driving accelerated business growth while making digital insurer a reality.
AI-Powered Processes
to revolutionize traditional insurance processes for improved flexibility, scalability, and cost efficiency
Move Beyond Efficiency
with Automation-led intelligent decision-making at the core of every workflow
Modernized Legacy Systems
including IBM (AS400/iSeries) for improved performance and functionality
Faster Design & Delivery of Insurance Software Solutions
powered by low code platforms to meet market expected demand
Accelerate Business Growth
through fully integrated, feature rich low-cost Insurance Technology Platform Services
Streamlined Sales and Customer Service Operations
powered by Salesforce, MS Dynamics and custom CRM implementation and managed services
Increased Efficiency of Marketing Operations
with our tailored, responsive and dedicated Marketing Services
Bridge Your Technology Skill Gap
across 30+ technologies by hiring on-demand technology experts with insurance domain knowledge
24/7 Support and Maintenance
of your core and customer-facing systems
Years of making insurers future-ready
Clients across insurers/carriers MGAs and brokers segments
Engagements delivered globally
Projects delivered globally
Across US, Caribbean Islands, UK, Europe, Luxembourg, and India regions
Including Microsoft, Salesforce, Amazon, UiPath, Outsystems and more
Featured as one of the top insurtech companies in Everest’s Application Transformation Service Provider Peak Matrix 2021
Recognized by Celent as in its one of the leading insurance tech companies Latin American P&C PAS Systems Report
Highlighted as a premier insurtech company in Everest’s L&A Application and Digital Services Providers Peak Matrix 2020
Recognized by Celent as a key insurance technology company in its Global Health Policy Administration System Vendor Report
