Redefining Value Chain Management

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Focus on Operational Efficiency and Personalization

The insurance sector is going through an unprecedented shift with rising customer expectations,
increasing regulatory requirements and new competition from fintech startups. Insurers fully
understand that digital transformation is critical to improving both operational efficiency and the
customer experience. Organizations have initiated multiple steps to modernize their back and front
offices, but the pace of progress is yet to pick up. This is partially the case because of burdensome
legacy systems that insurers are finding hard to navigate, before they are able to address the real
customer experience issue. At the same time, they need to find ways to partner with emerging
fintechs to increase the extent of personalization they offer to their customers. It is not an easy
path, but insurance companies have no choice. The only way to stay relevant and competitive is to
move up the value chain – give up the traditional product-based approach and transition to a
customer focused organization.

The Challenges

Legacy System Transformation

Updating technology without disrupting daily activities

Regulatory Compliance

Handling quick changes, transparency and easy audit

Operational Efficiency

Process automation, new RegTech capabilities

Expanding Competitive Landscape

Traditional insurance areas are being disrupted by FinTechs and other players

Digital Savvy Customer

Needs faster processes, more options and a better experience to attract the discerning customer

Multi-party Approval Process

Digital payments workflow to accommodate multiparty approval processes

How SunTec Simplifies Your Transformation Journey?

Transform from a product-based to a customer-based organization: Make personalization a way of business with sophisticated customer engagement capabilities including product innovation, partner ecosystem and revenue management.
Elevate customer experience: Understand your customer needs to devise offers, customized products, and manage deals in real time.

SunTec Offerings

See how we combine components of SunTec Xelerate to create specific solutions for digital transformation,
revenue management, customer experience orchestration and partner ecosystem management.

Dynamic Offer Bundling

Enable dynamic offers to customers with pick and choose flexibility treating every customer
individually with different risk covers and benefits.

Partner Management

Partner management for distributors, data providers, agencies and other players. Handles
onboarding to actual revenue share computations and settlement.

Billing Consolidation

SunTec Xelerate facilitates consolidated bills for partners covering multiple products and services (even if
their charging / utilization is done using a different platform).

Complex Deal Management

Orchestrate complex deals with an E2E workflow to streamline processes, acting as a single source
of truth and bringing in operational efficiencies.