Mindtree, a leading digital transformation and
technology services company, today announced the launch of its Loss Control Platform, a cloud based solution for transforming the
underwriting and risk assessment process for insurers and risk management
companies. The
solution will enable insurance companies to reduce business exposure due to
more optimized risk selection and lower claim incidences.
The Loss Control Platform is designed for the end-to-end
life cycle of loss inspection and control. This comprehensive solution covers
request management, assignment, risk assessment, tracking and publishing. It
enables seamless collaboration among risk managers, risk engineers,
underwriters, claims handlers, customers and other stakeholders.
Gaurav Johri, Senior
Vice President and Head, Platforms Solutions Group said, “Loss control
processes are manual and time consuming. Absence of automation and inconsistent
assessment methods used by risk teams are inefficient to support the high level
of agility required to handle todays’ more complex environments. Our solution automates the loss control
processes, provides automated insights during risk assessment and reduces cycle
time up to 30%.”
The solution is built
using flexible secured architecture and responsive design to deliver on-the-go
services such as risk assessment, progress tracking and risk grading. The
architecture extends loss control services to new user groups, locations, and
external vendors. The Loss Control Platform uses robust controls, data security
and data isolations specific to region, location and line of business.
Girish Joshi, Program
Director, Loss Control Platform said, “Our solution offers a unified common
workbench for insurers, brokers, managing general agents and risk management
companies. It offers process configuration and flexibility to design templates,
questionnaires and service level agreements for any line of business and generates
automated recommendations for improving underwriting discipline.”
The solution is part of
a broader set of cloud-based offerings of the Platforms Solutions Group that
help accelerate digital transformation and core systems modernization.
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