Insurance companies have traditionally invested heavily in acquiring and maintaining IT assets for automation of core processes such as Policy Administration Systems, Claims Processing and Billing, Rating and Print Services, along with other solutions to deal with the many stake-holders – customers, agents, underwriters, actuaries, regulators and employees interacting continuously.
However, confronted by rapid changes in the market, the companies are faced with the Hobson’s choice of either making huge investments again in replacing their aging legacy systems or face the bitter consequences – whether it is a low Speed-To-Market, inability to utilise omni-channel marketing, ire of an increasingly digital customer or loss of rich opportunities to increase ROI through data analytics and transformations.
It has become imperative for insurance businesses to undergo IT transformation in a calibrated manner, adopting newer systems based on latest platforms and processes optimally, without seriously disrupting the operations often letting cutting-edge digital technologies co-exist with mainframe applications. In order to stay ahead of the competition it has become crucial to reduce operating costs, provide a unified customer experience across channels and avoid face-offs with regulators.
In NeST IT, we follow a holistic approach in servicing the Insurance sector, capitalizing on our long innings accumulating rich technical & domain expertise. The NeST IT Insurance practice team is equally adept at supporting Mainframe/VB based legacy technologies as it is in assisting our customers in the process of migrating to latest Microsoft Dot Net and Java based technologies.
NeST – Insurance team provides services targeted mainly at the US Property & Casualty (P & C) industry, covering varied lines of business such as:
Our experts have been providing 360 degree support services to the Proprietary Policy Administration and Claims Management systems deployed in various leading US P & C Insurance and Insurance Service companies.
Our services include
Production support and maintenance
Enhancements and feature additions
Platform, Language and DB conversions
Re-engineering, migration and testing services
Implementation, support, maintenance and independent testing
Provide support for systems used for Rating services (based on Verisk Analytics database), reporting services, underwriting decision making & Print Support found in the industry.
Other important services include:
Data integration between various complex systems. Familiarity in using the popular ACORD messaging standard.
Data transformation & mapping services using ETL tools such as Altova and Item field Content Master (Informatica Conversion Agent)
Automatic Code Generation services, including TGP code generation for The Content Master Runtime Engine, XSLT code generation for webservice based transformation, MFD generation for Altova Mapforce map design and code generation.
Rating engine development & maintenance, Printing systems integration and support.
Trans-XA for Altova
NeST Integration Tool, Trans-XA for Altova is a code generation solution for web service based data transformation
Contains the mapping information in XML/XSLT
Consists of different components and graph
Components include document, constant, logical components etc.
Graph is represented by vertex and edges
Fully compatible with Map force tool engine
NeST Integration Tool, Trans-XA–XSLT is a code generation solution for web service based data transformation
Contains the transformation engine in XSLT
Learn how NeST IT had set up an Offshore Development Centre to undertake enhancement / customization and maintenance services competitively for the proprietary software applications (based on a wide range of technologies) offered by a US-based technology and solutions company, thereby helping it cut resource requirement and costs in servicing its numerous clients.
Learn about how NeST IT helped a leading technology and solution provider in the US Insurance domain to cut cost and go-to-market time by taking over the customization, implementation and maintenance of a new Microsoft .NET-based policy administration system at their clients’ facilities, after getting it migrated from their legacy system by another vendor.