Reduced TAT for Policy Issuance and Claims Processing with an End to End Agricultural Insurance Solution

Reduced TAT for Policy Issuance and Claims Processing with an End to End Agricultural Insurance Solution

The Challenge

The Customer had recently forayed into Agri Insurance business with products providing financial protection against vagaries of weather on crops sown by farmers. The customer had fragmented processes leading to delays and inefficiencies in conducting business. The customer did not have any smart tools to capture data which is critical in positioning its products.​

The Solution

iNube designed & deployed Agri Insurance Web application for end-to-end enrolment management together with an enterprise mobility solution. It included an Android based Crop Cutting Equipment (CCE) mobile application. The solution handles Policy Issuance, Underwriting and Claims management. ​

Automated inward management and Kit management processes​
Embedded logic for Sum Insured and Premium based on scale of finance and Premium Master​
Intelligent business rules were built to manage weather insurance claims​
Capability of calculation of claim settlement amount factoring in the Threshold Yield (TY), Actual Yield (AY) and other business parameters​
Extensive MIS reporting capability was enabled​
Robust analytics with a focus towards data gathering​

Value Delivered

  • Enabled transparent and efficient decision making for claims​​
  • Early adoption of emerging technology inline with client’s vision to remain at the forefront of technology ​​

Reduced TAT by 25%

For policy issuance

Reduced TAT by 15%

For claims processing

More than 60%

Reduction in TAT in comparison to manual process

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