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Shifting customer needs and expectations:

There has always been shift in the customer needs in terms of expectations of services which demands the willingness to assume more risks, improved capabilities in terms of handling mass-customized products with multiple clauses, global view of the expectations. Changing competitive dynamics Due to increased competitive dynamics, there is a need to both focus on increased revenue as well as reduction of costs. Ability to spread the customer base and establishing the clear perception on the trustworthiness of the Organization becomes the key factors to survive the market competitions.

Changing economic and business environment

Business cycles keep changing very fast, which pose greater challenges to the investment returns impacting in a big way. Market spread becomes a key factor to remain stable in the face of increasing combined and loss ratios. This in-turn needs greater business insights. With all these Insurance companies focus to get increased core business, better penetration, profitability & market retention, better claims management, increased fraud detection, increasing brand loyalty, customer centricity etc.,. Towards performing efficiently, Insurance companies not merely need a business intelligence or Analytical system, they need something more- they need a system that will enable them to balance out every KPI appropriately to ensure that the over- all goal is achieved and analysis that lead them towards a proper outcome tagged to their respective kpis and goals. They need a complete performance management system. iCAST ensures a full performance management solution for the Insurance Enterprise enabling them by building on a base of a golden copy of their data. The product links up from the strategy till the departmental score cards with analysis ensuring that not only the goals are mapped with dimensional precursors, but also are analyzable completely to understand the "Why" of the behavioral patterns and trends. This clubbed with the event driven alerts and the collaboration ensure that the Organizations get the intelligence that is actionable. And the self service analytics on virtual cubes ensure that any question or pattern needed by the human mind with any interlinked attributes can be taken with ease tagged with the right semantics. All these are based on layers that are standardized for the industry so that the adoption to the performance management solution ensures that there is a immediate upgrade to the Globalized standards.

Along with the ability to cater to the Enterprise Performance Management, the application is highly modular providing performance management solutions for multiple areas as Channel Management, customer relationship management, underwriting, policy administration, policy management, payments, billing and collection, Claims Management, Marketing and Sales, Asset Management, Products - Development, Management & Distribution, Account Administration, Communication Management etc.,.

The product ensures easy implement ability and adoptability by the Organizations and ensure that there are tangible returns which could be very easily seen and measured. The product ensures that the Organizations get the best of the domain as well as technology empowering them with all aspects to face the markets with confidence and clarity. Please request us for our brochures to understand our offerings better....