It’s hard to imagine insurance and technology in one frame. When you think of insurance industry you think of more traditional business models. You imagine a middle agent and piles of paperwork. Global trends however are quick to break this image, calling Insurance companies to be slowly becoming tech companies that sell insurance.
Veracity Software works with leading insurance companies and is a provider of SME’s in the industry. Technology is changing at such a pace that most companies are finding it hard to keep pace. That day is not far when software intelligence, digital, analytics and cloud will be running every aspect of insurance from infrastructure to operations. We understand the importance of artificial intelligence, cyber insurance, commercial lines, claims management and risk & regulatory compliance.
Veracity Software is helping insurance industry build solutions, making providers tech savvy, giving companies competitive advantage to grow in digital market and help in reducing inherent bottom-line risks.
Growing competition is leading to increased commoditization of insurance products. Market dynamics are forcing insurers to add new levels of customization to accommodate changing customer expectations. At the same time, reducing time-to-market for new products and ensuring top-notch customer experience! Insurers are also looking to transform their business processes while actively seeking customer intelligence and advanced analytics to drive profitability. Plus, there are always changing regulatory requirements, lack of skilled manpower and shrinking margins to contend with.
Veracity Software, with its deep domain expertise of servicing insurance clients, acts as a strategic partner to insurers helping reduce time-to-market and operational risks during new product launch or entry into new geographies. We also partner with insurance companies in transforming their critical processes, manage costs and regulatory requirements, besides leveraging analytics to drive consumer insights.
We are a trusted partner to more than 30 insurance and re-insurance clients offering end-to-end solutions across the insurance value chain. We have a vast experience working with life and annuity, retirement, property and casualty carriers as well as leading brokers and re-insurers.