Insurers face an increasingly challenging business environment. Customer service expectations are heightened. Margin and profit pressures are increasing. There are extensive regulatory changes, and increased competition from non-traditional companies. Yet a heightened competitive marketplace demands that you improve your operating and product-development efficiency and cater more responsively to customer needs.

If you intend to fast-track your new business processing, how do you calculate how much of a role process-transformation plays? If you want to streamline your servicing of policy owners, how do you do it so that it enhances their sense of service rather than diminishes it? If you need to implement a system for compliance with regulatory changes, how do you ensure that your solution can scale to respond to future changes?

The insurance industry worldwide is facing the challenges of deregulation, consolidation and convergence of financial services. There is today a pressing demand for cutting edge services and enriched customer experiences at a significantly lower cost. It is imperative that insurance players be able to transform distribution channels, sell complex yet flexible products online, and address security and privacy concerns for a strategic competitive advantage.

Mifi has an in-depth understanding of the insurance business, and has dedicated insurance practice to cater to the specific business requirements of the industry. Our team of insurance consultants has developed conceptual frameworks, process flows and other assets that enable a detailed analysis of both the life and non-life sectors.

We have developed solutions that address the entire gamut of business needs, including product development, sales, underwriting, policy administration, claims management, insurance brokerage, re-insurance, billings and receivables.
We have been closely associated with leading overseas insurance players for over two decades, and have accumulated 8,000 person years of valuable experience in developing and implementing solutions for these industry leaders.