Reinsurance & Large Commercial IT Solutions
The Reinsurance and Large Commercial insurance industry still works on legacy systems dominated by intermediaries. The time is now for such players to modernize their legacy systems and distribution models to match the demands of the new digital customer and reduce operational costs by automating various processes. NIIT Technologies has worked with leading commercial insurance and reinsurance companies to deliver effective IT solutions through implementing our own IP (AdvantageSuite), blended onshore/offshore outsourcing model, dedicated centers of excellence, and industry-certified professionals.
The intensity and uncertainty of natural and manufactured catastrophes create unprecedented opportunities and risks for the underwriting market, and insurers need to find a solution to assess the susceptibility of underwriting portfolios to various catastrophic events. Reinsurance companies can gain a competitive advantage in their segment by leveraging the latest technologies. Some business areas wherein the adoption of the latest technologies may have a greater impact are big data and predictive analytics, cat modelling, catastrophe risk assessment, and portfolio management.
Our comprehensive insurance software product, AdvantageSuite, features market-leading business solutions—Acumen (offers an analytics engine and a data management capability), Navigator (combines capabilities around underwriting, policy administration, and claims management), and Exact (offers an enterprise-wide exposure management system).
We have domain leadership and a technological edge that empower us to deliver innovative solutions tailored to every customer in the reinsurance and large commercial industry.