Pushing the Boundaries of Insurtech

Businesses are adopting emerging technologies to implement digital methods that can eliminate operational inefficiencies, solve legacy issues, enhance customer experience, and improve the speed and accuracy of claims processing to a greater degree.

Experion has already taken the lead in building insurtech for the emerging markets. We’ve built our solutions on innovations such as IoT, AI, predictive analytics systems, chatbots, automation, etc. The purpose is not just to put our customers ahead of the curve, but also to maximize value propositions for their customers in the long run.

Experion has a long history of working with companies at the forefront of technological evolution. We work with startups as well as Fortune 100s with mature processes and systems – building new solutions on the cutting edge of technology.

 

Our Insurance Expertise

Experion has the right expertise and solutions to make your business the best in the industry!

  • whether you are starting a new Insurance-based business or looking to re-energize your existing business by taking advantage of the latest developments in Insurtech
  • whether you are a small business looking to create a simple app or a growing software business looking to set up a platform to encompass entire functions of the insurance business
  • whether you are an agency, independent agent, carrier, producer, broker, business partner or a re-insurer
  • whether your business is based on policy, billing, or claim
  • whether your role is that of a claims administrator, adjuster, examiner, underwriter, auditor, customer service representative, finance advisor, appraiser, or sales manager
  • whether you are a company with a long history trying to come to terms with the latest ways of doing business and trying to beat off competition from startups
  • whether you are an Independent Software Vendor launching or re-launching your product with tough timelines to meet and near-impossible features to launch

 

Insurtech Solutions

Claims Management & Operations

We deliver claims management software that elevates all facets of your claims management processes such as claims assignment, verification, investigation, damage detection, FNOL and loss coverage, scoping and loss evaluation, claims settlement, recovery and reporting.

Our claims and operations management solutions will help you:

  • Improve efficiency of claims operations
  • Effectively manage claims across all lines of business
  • Process claims faster with automated claims management systems
  • Improve customer satisfaction and retention
  • Reduce overhead expenses and save time with intelligent rule-based assessment
  • Reduce claim cycle times

Policy Administration & Services

Our innovative insurance policy administration solutions are designed to automate the entire customer service request lifecycle and perform activities such as auto-fetching of policy details from the integrated systems, document scanning with optical character recognition (OCR), split/merging of documents, case classification, etc. With our AAIS compliant insurance software solutions, we streamline your policy administration tasks and enable multi-tasking within your teams, while effectively managing conflicts and offering superior customer service.

Our policy lifecycle management solutions will help you:

  • Eliminate manual and tedious administrative tasks
  • Reduce operational costs
  • Improve agent and policy holder experiences
  • Offer effective, faster and contextual customer communications
  • Enhance customer service

Policy Issuance & Underwriting

Our insurance underwriting solutions automate manual processes for capturing details of clients, applicants, adjusters, doctors, etc., information fetching, policy issuance, etc. and shorten the prospect to customer lifecycle. We help insurtech companies in delivering superior user experiences by eliminating manual interventions in policy elements and underwriting validations and evaluation, including anti-money laundering, duplicity checks, fraud and blacklisting.

Our policy underwriting solutions will help you:

  • Automatically evaluate and issue policies
  • Improve speed and efficiency of key underwriting tasks by augmented underwriting methods
  • Ensure zero underwriting errors

Worker’s Compensation and Litigation Claims

Considering all the complexities associated with workers’ compensation and litigation claims, we have devised solutions to help attorneys follow a client-focused approach to create strategic legal solutions for each case. Our solutions enable employers, insurance carriers, self-insured groups and third-party administrators to easily navigate workers’ compensation defense. Our workers’ compensation capabilities include:

  • Digital case handling
  • AI-enabled document extraction and classification
  • Digital Attorney calendar handling
  • Digital medical appointment handling
  • Case rating engine
  • Automated scanning of case documents with conflict and fraud checks

Payments and Invoice Management

We have built payment and collection systems keeping in mind that payment methods may vary based on the lines of business. Our innovative solutions for digital payments enable insurance companies to trigger payment reminders, reward early bill payments and issue late payment penalties. We automate and streamline the billing activities with automated invoice generation, payment follow-ups, recurring and one-time payment plan development, collection and account and cash management.

 

 

 

Offerings

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    Strategic Technology Consulting

    Players in the insurance sector are undergoing rapid changes and utilizing technology to redefine their core systems and processes. To keep pace with the rapidly evolving industry, insurance tech companies must leverage emerging technologies.
    At Experion, we routinely conduct POCs to test and effectively prove various new technologies that can help advance the progress of InsurTech practices. Ask us about our POCs with Artificial Intelligence, Machine Learning, Blockchain technology, Drone technology, Chatbots, Fraud detection and prevention, Virtual Measurements, Claim automation and Computer Vision.
    We thoroughly examine and understand your business challenges and devise effectual digital software solutions that best suit your business. Over the years, our team of strategy and technology consultants have brought to market many technologies that are currently considered standard across the insurance world.

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    Custom Software Development

    Experion has extensive experience in building top-notch software products and solutions to fit the needs of businesses across diverse sectors. We help in improving efficiencies, bringing down costs, enhancing customer experience and solving complex operational challenges with our custom software development services.
    Our expert team of software architects and engineers focus on proactively engaging with stakeholders, capturing all the requirements and effectively translating them into fruitful solutions.
    We take a slightly different approach when it comes to custom software development. We have highly experienced people who understand the Insurance business and deploy highly experienced business analysts to understand your specific business. This investment in your business is what makes our partnership the most successful for both us and our customers.
    Right from the product ideation and design and development, through testing and support, we highly depend on agile methodologies and thrive to exceed expectations of our end customers.

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    Application Re-engineering/ Modernization

    A significant part of the insurance industry still relies on legacy systems built on ageing technologies that are costly and lacking speed, accuracy and efficiency. These systems need to be transformed into modernized solutions that can keep up with the digital era and improve business processes.
    At Experion, we have the right capabilities and skills to assess your existing insurance systems and suggest necessary enhancements to re-engineer or modernize them to fit the current environment and your customers’ changing demands. Our modernization services include cloud migration, mobile and web enablement, preventive maintenance and support.

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    Testing and Maintenance

    Testing is an inevitable process of software development. We not only build products that meet the evolving customer expectations, but also ensure the smooth functioning of the solutions. We take care of end-to-end testing needs of your applications using DevOps and intelligent automation methodologies. Our skillful testing teams perform functional testing, automation testing, performance testing, mobility testing and security testing to ensure the quality, effectiveness, reliability, stability and security of the insurance software built.

    For ensuring smooth software functioning, maximum value generation and continuously delivering superior customer experiences, software solutions need round-the-clock support and maintenance. At Experion, we understand that superior application support and maintenance is instrumental in the success of a product or solution.

    We enhance the quality of the software and minimize issues by constant monitoring and assessment of its performance and offering preventive and corrective maintenance and user support. Our support teams work round the clock to eliminate system downtime and provide superior customer service to ensure the highest quality standards of your software.

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    Third Party Integrations

    Being able to manage the entire claims process, from start to finish, within a single application or platform streamlines the process and improves efficiency. And the best way to do it is by integrating third-party applications to your software, which will enable you to perform multiple tasks within the same application.
    At Experion, we have built interfaces with multiple third-party systems and applications for seamlessly carrying out activities such as document data extraction and classification, ERP integration, policy administration, CRM, etc. With our integrations with third-party and legacy applications, we provide omnichannel, personalized engagement across all channels including mobile, web, in-person, chat box, social, and bots. Some of the key integrations we offer for insurtech solutions are as follows:
    • Claims Management: Xactware, Symbility
    • Reporting: Hazard Hub, Lexis Nexis, Transunion, Millenium, Swiss Re, Maprisk, ISO, APlus
    • Documents and Storage: DocuSign, Amazon S3, ImageRight, Excela, IVANS,
    • Payments: Trust Commerce, Cybersource, BB&T, Bill2Pay
    • Others: Melissa, Mandril, ARATerrain, Risk Meter

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    Analytics & Reporting

    Data and insights are the fuel for innovation in this digitally driven world. We enable businesses to capture and analyze data to reveal growth opportunities and make better decisions. Our visual analytics, BI and reporting services help in unleashing powerful insights from various data sources and delivering a single source of truth for your business transformation.
    Our expert team of data analysts and architects help you use data as a strategic asset to enhance business processes and customer experiences across your entire business. We offer a range of third-party integrations for real-time adjuster KPI tracking, survey and data analysis, inspection, cost estimation, and many other facets of insurance.

Adding value to Insurtech

Experion not only has the technical expertise, but also has functional depth in the property and casualty (P&C), motor insurance, life and health insurance, and workers’ compensation domains. We‘ve made a habit of building cutting-edge, cloud-based solutions that enable insurers to craft better customer experiences, navigate regulations faster, and reduce manual processes. Our innovative business models automate and optimize workflows, leading to faster claim settlements and a frictionless and transparent claims experience for customers.
We have over 15 years of track record getting companies from seed funding to multiple rounds of public offers. We’ve worked with companies in diverse areas such as Public Sector Traffic Management to Mental Health Assessment; Ecommerce startups to million-dollar Supply chain providers.
In the world of insurance, we are the Technology Partner of Record for the world-leading products in the P&C space to the most advanced claims management company. We are also building the operations system for the most prominent law firm in the Workmen’s compensation area in Southern California.

Testimonials

“Overall, the (Experion) team has been very good at being diligent in their deliverables. Experion Technologies aided us in that (documentation and delivery) process as well, pointing us in the direction of what would help them the most. Since this isn’t our area expertise, having them guide us has been great.”

President & COO, Insurance Adjusting Firm

“Our business is growing, and Experion’s platform is at the heart of it.”

CEO, B2B Research Organization

“We’re extremely happy with the work that Experion has done for us on both the development and testing sides.”

CEO, Software Company

“Experion is one of the best software partners we’ve had. Experion’s commitment to success was evident in the final product. Following the software’s deployment, overall sales have increased by 40% and overhead costs have been significantly reduced.”

Director of IT, Food Products Manufacturer

“Experion had a good combination of price, communication, and the ability to find solutions to our issues.”

Co-founder, German Startup

Experion always helps us reach the most suitable solution. The most impressive thing about them is their willingness to take on any challenge. They projected this perspective at all levels of their organization.

IT Manager of Global Retail ISV

Team Manager

Success Stories

Next-generation digital payment processing solution for one of the Insurance providers

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A cloud-based claims management system for an independent insurance claim adjusting company based in the US

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