India’s insurance industry is all set for a next growth spurt. From its current value of 60 billion USD, it will take off towards 160 billion USD, a growth rate of over 2.5 times, in the next decade. This is being fuelled by the increased FDI cap, acceptance of IRDA regulations, and advancement in digital technologies & supporting infrastructure. This is all with the backdrop of a still highly under-penetrated Indian Insurance market, and a revival in overall financial economy of the country.
With more than a decade of experience in serving various Insurance majors, Qualtech has identified Insurance as one of our the strategic focus areas.
Over these years, Qualtech, has been part of the transformation of the insurance industry that has seen the rise of private entities, changes in regulatory environment and advent of digital technologies. We have worked with some of the biggest insurance companies in the country, designing and implementing insurance software solutions that helped them capitalise on the opportunities thrown up by market & technology disruptions.
At Qualtech, we have served multiple Insurance majors and have contributed to our client’s ability of staying ahead of the competition. While during the growth phase, we have supported rapid expansion plans ensuring scalability and rollout of new features across business applications. We have created solutions that have helped launch new Insurance Products quickly across channels resulting in a faster TAT and better distribution. We have created and enhanced insurance software solutions across business functions of Sales and Distribution, Policy Lifecycle Management, Operations, Customer Service, Claims etc that supports process standardization and automation to enhance efficiency and reduce operational costs. Our BI team has worked across reporting, MIS, datawarehousing and analytics projects providing critical decision making wherewithal to business and line managers alike. With the advent of digital technologies, we have helped our clients transform their customer and distribution facing technology channels making them more responsive, collaborative, context specific and intelligent.
Our technical capabilities as well as a deep and nuanced understanding of the Insurance industry and commitment to our clients’ success positions us as the trusted technological partner for ambitious goal-setters in the Indian Insurance industry.