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Insurance Software Reimagined

Emphasis on Driving Growth: Insurance companies across Asia, have a strong emphasis on driving growth. They are actively pursuing growth opportunities by expanding their distribution channels, introducing new products, and developing new business initiatives. There is a noticeable trend of consolidation in the insurance and pension industry, resulting in larger businesses within the sector. In Asia, insurance has emerged as an important means of "savings and protection" for "mass-market consumers".
Rising Healthcare Costs: Global healthcare costs are outpacing inflation, with complex treatments driving prices higher. Without adequate coverage, medical expenses can be overwhelming for the mass-consumer segment.
Preventive Care and Wellness Initiatives: Health insurance is increasingly integrating preventive care, including screenings and wellness programs, to promote proactive health management and reduce the need for costly treatments.
Changing Lifestyles and Health Awareness: With growing awareness of the advantages of a healthy lifestyle, people are pursuing wellness-focused insurance plans. Their shifting healthcare demands and preferences lead them to seek comprehensive health insurance plans that cover alternative therapies, mental health services, and fitness programs.
Financial Protection and Security: Unexpected illnesses and medical emergencies can strain families financially. Health insurance protects against unexpected medical bills, hospitalization, and treatment. Insurance can protect mass-consumers, especially those with minimal financial resources, against healthcare-related debt or disaster.
Accessibility and Affordability: Affordable health insurance options with flexible plans and lower premiums are now more accessible than ever. Digital tools simplify policy purchases, making insurance easier to manage.
Government Policies and Regulatory Frameworks: Governments are emphasizing universal healthcare and supporting mass-consumer health insurance uptake through policy and regulation to improve affordability, quality, and accessibility.

Gradatim helps insurers adopt technologies that deliver positive financial outcomes and meet customer demands. We specialize in both core and ecosystem platform implementations.

We are pleased to present the following implementation examples, which includes both core platform and eco-system platform implementations.

Marine Cargo Insurance

Designed to manage thousands of commodity classes in a cargo program.

Gradatim MFInsure® Marine Cargo is easy to use, allowing Licensees, Partners, and Assureds to deploy quickly with minimal training. This is easy to use.

A complete policy management solution, including rate and limit settings. Allows licensees to create clause list for insurance. Policies can be changed proactively and retroactively. Online access lets assured parties generate live risk management reports and submit declarations, shipment, and storage requests easily. Responds quickly and calculates premiums per rate configuration. Prints certificates only for permitted transactions, enables the guarantee to issue a preliminary certificate before cargo reservation. Allows licensees to add certificate or general fees by policy.

Product

Simplified installation and Administration of Policies, Clauses, and Endorsements. Online certificate issuance, endorsements, premium and policy fee calculations. Library of clauses and assured interface. Effective referral administration.

Claim and document management, that is compatible with existing correspondence and communication templates. Multi-user, multi-group, multi-role, multi-currency, and real-time currency exchange information are available. Includes extensive reporting, billing, invoicing, and payment reconciliation. B2B SaaS model implementation.

Features

Prestige Assurance uses Gradatim Mfinsure® PC Platform for Marine Cargo businesses. Implemented on a B2B SaaS Model, the deployments feature multichannel access and real-time issuance of declarations by assured. This is a growth engine deployment and has resulted in business growth, that otherwise would not be possible due to legacy constraints.

Implementation

Core Policy Administration System Implementations

Foundation platform for the largest life insurer

The Gradatim MFInsure® Platform serves as the foundation for India's largest life insurers, Centralized IT Application for the Pension & Group.
The implementation supports Group Life products and also manages multiple Social security Insurance schemes.
Built on a JE stack with Angular front-end, Oracle database, and running on Linux, the platform ensures seamless operation, and handles very high volumes.

Core policy administration platform for leading private insurer

The Gradatim MFInsure® Group implementation is a standout example of group life system transformation, recognized as the "Best Transformation Project of the Year" within the Group.
The system supports a range of products, including credit shield, protection, fund, and micro products, offered by the insurance company.
The platform is driving growth and scalability for the group, with new distribution models in place.
It operates as a B2B SaaS solution for the group’s core platform.

Byte, Rural, Embedded products for a leading health insurer

An innovative solution for group health insurance, through personalization and automation. The platform replaced existing health insurance PAS system.
Deployed to manage group health insurance products for the health insurer, particularly for rural and embedded businesses.
As a B2B SaaS implementation, it drives significant scalability, reduces costs, and streamlines reconciliation, handling over 200K policies issued daily.

Legacy core replacement for a trusted life insurance company

The implementation supports term and credit protect products, along with the launch of new group health products.
Built on a flexible core, the platform features extensive automation and significant process improvements.
A key highlight of the project is its seamless integration with bancassurance partners, enhancing distribution capabilities.
For Gradatim, this represents another successful B2B SaaS implementation, and is hosted on AWS.

Eco-system implementations. Growth engine for Insurers

Growth engines for leading public sector insurer

Personalized Digital Channels leverage user intelligence to tailor and deliver insurance products based on individual needs, preferences, promotions, and customer interactions.
By customizing digital channels, businesses can significantly improve conversion rates, marketing effectiveness, and customer satisfaction, particularly for high-potential consumers.
The insurance company utilizes Gradatim MFInsure® PC, implemented through a B2B SaaS model, to deliver personalized ecosystem channels for high-value client engagements.
This solution spans a wide range of general retail products, enhancing customer experience and driving business growth.

Intermediary channel for a large life insurer

Intermediary Journey Platform is designed to enhance interactions between insurance company, intermediary agents and their customers.
The platform streamlines key functions, including underwriting and policy issuance, as part of a comprehensive ecosystem that Gradatim is responsible for implementing.
It simplifies the digital issuance of policies, policy corrections, and renewals, while integrating seamlessly with legacy core systems, business process management, and other existing IT subsystems.
This is a B2B SaaS implementation.

Digital channels for a leading P&C insurer based in Nigeria

Gradatim’s MFInsure® PC Eco-System Platform is a standalone core policy solution implemented for Prestige Assurance. Designed for online, broker and mutual channels.
It supports a range of product lines, including motor, health, marine cargo, and liability insurance.
The online portal capabilities include transaction handling (quote, binding, and service), and a range of payment options. Additional features like collaboration and case management ensure comprehensive support for distributors across all product lines.
This is a B2B SaaS implementation.

PM Suraksha Bima Yojana

A unique implementation of the world's largest social sector scheme.
200+ banks are integrated.
The common citizens portals are integrated.
Three different enrollment and claim intimation options, including API, upload and SFTP.
Typical daily enrollment volumes exceed 2 Million during peak recruitment period.
Total volume of enrollments exceed 100 million every year.
The claim process is online, both for banks and citizens portals.
Highly automated, requiring a maximum of 3-5 people to manage the entire business.

For more information about Gradatim's core, ecosystem, and the AI solutions, please do get in touch with us.

If you’re looking to discover how Gradatim’s advanced core, Ecosystem platforms and the powerful AI engines can transform your insurance operations, we’d love to hear from you. Reach out today for more information, and let us show you how our innovative solutions can drive growth and efficiency for your business.

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Deposit Insurance

A deposit insurance system, refers to the set of specific functions (whether performed by a dedicated legal entity or not) inherent in providing protection to bank depositors, and their relationship with other financial system safety net participants to support financial stability.
An effective deposit insurance is an important pillar of the financial safety net and plays a key role in contributing to the stability of the financial system and the protection of depositors.

Product

Gradatim Deposit Insurance Solution is cross functional Solution that integrates all existing functions of a Deposit Insurance Organization.
The solution provides all round benefit to a deposit insurance corporation as well as other stakeholders i.e. banks, depositors of insured banks going under liquidation or amalgamation or restructuring, authorities / agencies such as liquidators and other bank safety net players such as central banks and banking regulators by establishing an efficient single point solution between all stake holder functions.

Features

Deposit Insurance and Credit Guarantee Corporation (DICGC) established under DICGC Act, 1961 is a wholly owned subsidiary of Reserve Bank of India (RBI).
As a part of its statutory responsibility, the Corporation insures all the deposits in banks across India. DICGC mission is ‘ to contribute to financial stability by securing public confidence in the banking system through provision of deposit insurance, particularly for the benefit of the small depositors’ and in its pursuit be recognized as one of the most efficient and effective deposit insurance providers, responsive to the needs of its stakeholders.
Gradatim has two implementation of Deposit Insurance Solutions.