Novac can help you to stay ahead of the curve by acting as your digital transformation partner. We work with you to enhance fraud detection, increase accuracy in claim settlement, and comply with industry regulations.
Insurers giving priority to digital transformation will offer personalized services. This facilitates faster claim settlement, higher policyholder retention (procuring of insurance plans), and quicker resolution of policy-related queries.
Insurance companies can make informed decisions based on the needs and preferences of customers. Data analytics will be handy while conducting background checks and for dealing with fraudulent claims.
Insurers can assess risks in an analytical manner and take steps to mitigate them. Eventually, a higher level of accuracy in risk assessment will help in reducing liability costs.
Automation of insurance processes results in improved operational agility. Thus, insurers can adapt to changing global market conditions and customer expectations.
To keep insurers on top of their game, we offer insurtech solutions that are accessible, flexible, secure, and easily integrable.Know more
STATIM®, a cloud-powered Life and General Insurance solution is designed to remove complexities for insurance businesses. As a next-gen platform, Statim LI and Statim GI take care of all aspects like sales and distribution, policy administration, claims settlement, and billing management. It perfectly suits the requirements of insurers, agents, brokers, and web aggregators.
Insurance companies can embrace the metaverse and enhance customer engagement. It also makes the underwriting process more accurate, speeds up claim settlement, and aids in fraud detection
Insurers can utilize metaverse headsets for conducting asset assessment. They can verify submitted claims by overlaying new damage information over pre-damage images.
Underwriters can evaluate assets without on-site inspection. Extended Reality (XR) helps in simulating and recreating real-life scenarios. Accordingly, claim adjusters will estimate the damages to assets.
In the metaverse, smart contracts store all information related to policyholders. Operating immutably, it detects fraudulent claims and payout of claims are made only when predefined conditions are met. Insurers in the metaverse will benefit from higher trust, greater transparency, and lower litigation costs.
Bring in the change to your Insurance business with STATIM®