Insurance companies have embarked on automation and digitization initiatives to drive agility and efficiency. These initiatives in enterprises have necessitated the need for tracking the impact on organizational performance. Executive scorecards should focus not just on traditional KPIs, but they also need to include how the latter are impacted by the new age technology initiatives such as digitization, automation, IoT, etc.

Siloed performance management hinders holistic performance measurement that helps understand the cause-and-effect relationship between initiatives and outcomes. Moreover, the lack of consistency in KPI definitions prevents internal comparisons and benchmarking.

Proactive and data-driven decision-making demands reliable KPI definitions, data granularity for drill-downs, and access to timely information.

Mindtree’s Insurance insights framework takes a persona-based approach to deliver business insights backed by a set of industry accelerators. The key industry accelerators include the following:

1. Insurance KPI framework comprising 300+ KPIs organized into strategy, experience, process, and capability, covering key personas in an Insurance enterprise across sales, marketing, operations, underwriting, claims, customer experience, actuarial, digital, automation, HR, finance, and IT.
2. Manage data effectively with Mindtree’s Insurance information model. It enables to jump-start a common standardized warehouse definition that can be populated from data sources in an Insurance enterprise.
3. Mindtree’s Insurance performance dashboards enable executives to help visualize their KPIs and thus speed up decision-making with advanced data visualization.

Mindtree engages with customers with a range of services from consulting exercises to define engagement scope, data strategy definition, dashboard design, and implementation.

Drive maximum impact for business performance with Mindtree’s holistic and consultative approach.

Key outcomes: