Digital innovation in insurance

Refine insurance offerings to cater to tomorrow’s digital demand. Adopt secure, compliant, and digitally-enabled operating models to improve the experience of customers, employees, stakeholders, and other partners.

Nuvento’s insurtech solutions fast-forward digital adoption in insurance. Leverage AI, RPA, and Cloud technologies to modernize the insurance infrastructure, consolidate the customer service operations, upgrade the agent management system, and expand on the product delivery model.

Digital Insurance Roadmap

Digital processes are fast replacing traditional practices. And most businesses have adapted to the new model, by moving their systems online and supporting their customers with basic functionalities.

As customers’ preferences shift to a solely digital model, insurance agencies must remodel their offerings and deliver them to customers on the platforms they’re on.

Nuvento’s digital insurance solutions help insurance agencies analyze their existing offerings, evaluate how to build on them to meet the future demand, and incrementally adopt solutions to transform offerings to digital.

End-to-end insurance digitization

Digital enablement

Modernizing legacy systems and cutting through data silos to build integrated data models.

  • Enterprise data warehousing
  • ETL/ELT solutions
  • Legacy system modernization
  • Cloud migration
  • CRM systems

Digital optimization

Improving existing insurance processes and business models using digital technologies.

  • Agent app
  • Policy wallet
  • Robotic process automation
  • Intelligent chatbots
  • Optical character recognition

Digital transformation

Employing a digital-first strategy, where data stays digital and is available from anywhere at any time.

  • Self-service capabilities
  • AI based automation
  • Data-based decision making
  • AI based product development
  • Personalized marketing

Nuvento’s Digital Claims Solutions

Nuvento’s digital insurance solutions are built to reduce the time taken to settle a claim. The process focuses on delivering anywhere anytime access to customers to file claims and minimize human intervention.

The solutions are built to help insurers and their customers ease through the claims processing journey by leveraging digital channels and minimizing traditional practices, vastly simplifying the process. With intelligent chatbots, AI-based image and documentation solutions simplifying access to information and data, our solutions eliminate traditional process bottlenecks and quickly process claims for speedy settlement.

Receive, validate, and resolve claims – right from FNOL to settlement – in no time.

Low-Cost Low-Touch Claims

Improve claims processing speed with minimal human touch-points for low-cost claims.

AI-based FNOL

Intimate the agency of the first notice of loss via digital and AI-based chatbots, policy wallets, and websites instantly.

Vehicle Damage Estimator

Advanced AI-based image recognition capabilities analyze vehicle damages and calculate estimates for repairs.

Claim Segmentation & Triage Analytics

Algorithm for complexity-based claims triaging to the right adjusters. Triage analytics for faster responses to FNOLs.

OCR-based Digital Documentation

Convert FNOL forms submitted in paper formats to digital versions. Efficiently manage claims-related documentation.

Complete digitization of claims life cycle

  • Digital Claims Prevention

  • Digital First Notice Of Loss (FNOL)

  • Automated Claims Management

  • Digital Loss Assessment

  • Automated Claim Settlement

Nuvento’s Accelerators for Insurance Organizations

AgentConnect

AgentConnect is a powerful portal for insurance agents on the cloud that consolidates the agency’s knowledge to deliver real-time insights that improve agents’ performance.

The portal gives agents real-time insights into performance metrics, helping them improve their productivity. They can stay updated on policy changes with quick and easy access to all the relevant information and agents can manage their customers, leads, targets and much more on this platform.

  • Quick identification of business opportunities
  • Digital connectivity between agents and customers
  • Quick documentation and delivery
  • Improved agent productivity and efficiency

NuOCR

NuOCR is an AI-based optical character recognition- enabled documentation system that instantly transfers data on document – paper/digital – to the database.

The template-based system eliminates the need for paper documentation by extracting data from paper, validating it and organizing it in your database in a few simple clicks. NuOCR helps insurance businesses organize their customer information in the database, simplifying CRM needs.

  • Faster insurance-related documentation
  • Accurate data capture from documents
  • Minimal errors reducing costs and time to process claims
  • Multiple output options to meet your needs

Policy Wallet

Letting insurance customers know everything they need to about their insurance policies. The policy wallet reduces dependency customers have on the insurance agent/broker for fulfilling insurance-related needs and gives them a channel with self-service capabilities.

Doing away with paper documents and waiting in queues for claims filing processes, customers can file claims, check policy statuses and claims process updates on a single channel, giving them complete control over their insurance needs.

  • Quick view of customer account information
  • Easy and quick claims filing and processing
  • Reduced paperwork and faster processes
  • Convenient nominee and information addition

CarDE

CarDE is an AI-powered vehicle damage estimation system that leverages image analytics for real-time damage assessments. The system evaluates images and generates estimates for damage repairs, making the process consistent and delivering timely cost-estimates.

Process consistency minimizes opportunities for fraud and improves operational efficiency of the insurer.

  • Quick real-time assessments using images
  • Consistency in repair cost estimates
  • Timely generation of estimates
  • Reduced changes for fraud

FNOL Chatbot

AI-enabled conversational chatbot built with AI, ML and NLP capabilities to simplify customers’ experience of filing a claim. The chatbots works as a digital claims’ assistant that collects relevant information once an insured customer expresses the intent to file a claim.

The chatbot collects details around the type of insurable event, location, images and guide the user to the next course of action.

  • AI capabilities for intelligent information gathering
  • Quick cost estimation capabilities
  • Omni-channel support
  • API integrations

We create digital experiences across insurance segments like

Life insurance

Health insurance

P&C insurance

Auto insurance

Commercial insurance

Broker & agents

Aggregators & distributors

Third-party administrators

Insights

Download Digital Insurance Brochure for Detailed Features

Nuvento’s digital insurance portfolio of services help to enhance the operational efficiency of core insurance processes such as finance, procurement, agent/broker management while reducing cost and boosting customer as well as employee satisfaction.

Our insurtech solutions are tailored to meet the day-to-day requirements of a wide range of insurance services, which include health insurance, auto insurance, life insurance, property and casualty insurance.

 

Download the digital insurance brochure