Incorporated in 1973, the client is a member of the National Bank Group of Companies based out of the Caribbean. They provide individual life, health, and general insurance across vehicle, property, construction, travel, and marine segments. They also provide pension plans, health and life insurance for groups making them the go to insurance provider in the Caribbean region.
Slow and inefficient legacy system coupled with lack of a connected insurance system leading to accounting data woes!
Slow desktop-based legacy insurance management system
Inefficient claims management and policy administration processes
Lack of a centralized claims and policy document repository
Absence of synchronization between data systems
Digital transformation of core processes with a tailored centralized web-based insurance management system – InsureEdge, along with a seamless integration with the accounting system to achieve automated processes and consistent data across systems.
Damco started the transformation project with a discovery phase to understand the unique requirements of the client specific to their business and Caribbean market, and the corresponding underwriting rules and rating methodology to help customers with accurate pricing and enhanced experiences.
Developed and implemented an end-to-end Insurance Management System
Seamless Integration with Accounting System
Dashboards and Statutory Reports
A Fully Integrated Insurance Agency Management.