The financial pressures are building up for the insurance industry, while collecting an ever-expanding pool of data. This calls for a cost-effective technology support allowing insurance companies to keep pace with the latest operational trends and developments in the marketplace. However, insurance companies have specific needs when it comes to their IT integrated system.

  • Policy administration
  • Claims management
  • Underwriting and
  • Billing

With a range of product partnerships in insurance domain, 7 Stream has been able to leverage the product effectively and practice excellence to provide best in class experience to customers.

  • Portal - Web Interfacing of legacy prospect data entry systems to improve productivity and streamline the associated front & back office workflows by modernizing their customer and agency interfacing system.
    • Reduced the manual intervention by 60% and streamline the workflow and processes via Web Services based solution
  • Rating Engine - Consolidation of rate lookups for multiple LOBs (Lines of Business) into scalable, rules driven Enterprise solution framework.
    • Reduced human intervention thereby reducing errors by as much as 80% and an increased productivity by 30%.
  • Underwriting workflow Process Improvement application – This involved developing an enterprise application for the underwriters to facilitate easy access to risk management, risk assessment & task management functions.

The solution helped the underwriters to concentrate on their core function of risk assessment and decision-making, leaving the application to gather all the necessary information. The key business benefit derived by the client was: 35% productivity improvement in collecting all the related underwriting information and 95% accuracy in risk assessment.

Along with providing user-friendly and hassle-free experience for customers, the insurance companies should also adhere to the regulatory board and follow practices as per the set rules and regulations.

We offer insurance software services and business-driven IT solutions that transform their working module to drive efficiency, promote cost-reduction and provide end-to-end services under one domain. Our business solutions are a blend of our in-depth knowledge, industry-specific experience, domain competency, technology, proprietary tools, methodologies, frameworks and advanced technology skills.

Our products are delivered with a set of configuration tools which enable even the non-IT people to make changes, as and when required, to meet competitive or regulatory challenges. However, we would like to stretch our support to give our customers all the assistance they may need from our end beyond the phase of product delivery.