Gradatim: Empowering Insurance Companies with End-to-end Digital Insurance Solution

Gradatim: Empowering Insurance Companies with End-to-end Digital Insurance Solution

CIO Vendor Acknowledging the disruptions of emerging technologies, Insurance companies have begun to integrate digital transformation in their business strategy in an attempt to reach out to wider markets and enhance business productivity. Growth, scale and digital transformation are among the top priorities for CXOs in Insurance companies.

However, despite the deployment of technology solutions and tax incentives by the government, Insurers struggle a lot to generate revenue by effectively engaging with customers & owing to ever changing customer behavior in an environment where face-to-face distribution occupies a major share. According to PwC’s 22nd CEO Survey on potential business threats, 21 percent of insurers see constantly changing consumer behavior as a major threat to their business, signifying both the importance and lack of customer-centric approach. Insurance companies today are looking for new technologies and New Vendors, who can help them work in line with ever-changing customer expectations and generate revenue by catering to their digital needs for continuous improvement.

Customizable Platform to Effectively Engage with Customers
Gradatim, a Bangalore based company offers a cloudbased digital insurance platform to Insurance companies to help them effectively manage the end-to-end insurance process, acquire new customers and grow their business. For some, digital transformation is about acquiring new customers and for others it is about enhancing the customer experience and improving services capabilities. Insurers are keen towards the application of technology in the areas of Insurance Distribution; Sales, Marketing and Customer Engagement; Data and Analytics and Insurance administration. “Our comprehensive core insurance administrative platform is both adaptive and connected,” informs Prakash Viswanathan, CEO and Founder, Gradatim. The platform supports individual and group life and non-life insurance products, annuity products and pensions.
Policy Administration
The company’s flagship product for Insurance companies - Gradatim MFInsure® by acting as a policy administration solution enables insurers to launch new insurance product in days, cater to digital natives, eventually making the entire process efficient. Insurers benefit from a configurable solution “where you make changes - fast and frequent”. The highly customizable and flexible platform Gradatim MFInsure® with in-built controls not only serves as an independent policy administration solution but also integrates with the existing legacy systems. Gradatim MFInsure® platform with its integrated AI engine helps drive growth by reaching out to customers as and when they are in need or looking for an insurance product. The platform helps Insurers reach new markets and acquire new customers - thus supporting the most strategic CXO priority.

Gradatim provides Insurers the right digital business foundation that act as enablers to grow their business, acquire new customers, cater to digital natives and setup robust infrastructure for innovation and continuous improvement. Helping Insurers and Insurance intermediaries think and operate like a Technology Company

“Gradatim supports many of Government Insurance programs including the Pradhan Mantri Suraksha Bima Yojana (PMSBY), a government funded accident insurance scheme wherein we have collaborated with a large number of banks and insurance companies across the country,” informs Prakash Viswanathan, about their association with the PMSBY scheme of Government of India. Gradatim is expanding its services to South East Asian markets and has strategic alliances with major system integrators and other IT majors.