Today, a new wave of disruption led by technologies like AI, RPA, IoT and Machine Learning are forcing insurers to innovate and introduce new products and services at an unprecedented pace. With self-driving cars hitting the roads, usage-based predictive insurance is bridging the gap between driving behaviors and premium rates, helping auto insurers cut costs and better assess their clients’ risk levels. RPA and Chatbots have reduced claims processing time from days to seconds. Other insurance segments like Property & Casualty, Life Insurance are also responding quickly to these market trends to stay ahead of the curve.
Having worked with leading insurance firms and emerging insurtech companies, RapidValue is well equipped to develop and deploy innovative digital solutions that enable insurance companies to achieve a competitive edge. Our products are designed to integrate with multiple business systems which are already used by the company. We deliver ROI driven, end-to-end strategy and solutions with a key focus on operational efficiency, increased ROI and highest quality of customer services.
From Fortune 500 Insurance companies to emerging product startups in the Insurtech sector, we have developed several digital Insurance solutions leveraging our strong domain expertise. We understand that adopting newer technologies involves, dealing with complex IT infrastructure, forking legacy systems, consolidating data, multiple systems, data security, and stringent compliance. We have a rich experience of building cutting-edge next-gen solutions across the Insurance value chain.
Leveraging digital tools to compare products in real-time, assess benefits and streamline key processes across channels. This includes automated tailored offerings, product recommendations, multi-channel distribution management solution, web-based and mobile reporting, real-time information & updates.
Simplifying and streamlining application processes resulting in increased sales volume while minimizing operational costs. This includes self-service portal for partner integration & distributors, bulk application processing & queue management, issuance of insurance certificate and broker management.
Automating underwriting processes, building quote engine, integrating powerful analytics & rating engine, auditing & reporting, integration with policy/claims management, fraud deduction & reduction and compliance with underwriting policies and self-learning capabilities.
Lowering per-policy service costs and raising service levels with our powerful processing and administration capabilities such as processing premium payment and lapses with great visibility, predictive analytics for risk associated with incomes and claims, transaction management etc.
Automating claims management processes for increased efficiency and reduce operational costs. This includes claims automation, fraud management, real-time data & advanced analytics, sector-specific forms processing etc.
Enhancing customer service through productivity gains and building customer loyalty while driving efficiencies in your business leveraging customer-360, anytime, anywhere self-service and chatbot for customer interaction.
InsurEdge offers a comprehensive solution platform to improve business processes across key areas such as claims, document management, reporting, policy issuance, partner onboarding etc. Powered by a sophisticated rules engine, customized workflows and cutting-edge technology, InsurEdge helps you improve efficiency, enhance customer experience and drive revenue growth. Some of its key features include ready-to-use pre-built modules & connectors, user-friendly UI with easy-to-use drag & drop components, APIs to multiple partners & third-party systems.
P&C - Personal & Commercial
Managing General Agent & Underwriter (MGA/MGU)
Brokers & Agents (Retail, Reinsurance, Surplus Line)
Independent Software Vendors (ISVs)
Aggregators, Distributors, Banks
New age technologies like RPA are transforming the core of the insurance business improving productivity and business efficiency and reducing operational costs. RapidValue has formulated a proven and structured approach to build RPA solutions for the insurance sector. It includes building a proven roadmap, selecting the right tools, platforms and people, creating PoCs and setting up an operating model for designing, developing and deploying automation solutions faster. We help insurers achieve next levels of process efficiency, operational cost savings, speed and accuracy, with innovative intelligent process automation solutions.
We are glad to have RapidValue as our mobility partner. They demonstrated a strong understanding of our requirements and process driven approach, which enabled strong project execution and on time delivery. Through this partnership with RapidValue, we are able to provide our customers with an exceptional mobile experience.Kevin Moriarty, Assistant Vice President - Online Strategy