Mindtree rose 1.86% to Rs 2056.20 after the company said that it has partnered with Duck Creek to improve customer experience for UPC Insurance customers through the implementation of SaaS-based core systems.
This includes policy, billing, claims, data insights, and insurance technology solutions as well as the consolidation of multiple applications on a single integrated platform, made possible with Duck Creek OnDemand, the provider's SaaS solution for the property and casualty (P&C) insurance industry.
UPC Insurance is a premier specialty underwriter of catastrophe exposed property insurance in the coastal U.S. for personal and commercial properties. With heightening customer expectations around fast and convenient processing of claims, UPC Insurance has successfully modernized its IT systems so that they can improve operational efficiencies and process claims in a matter of minutes instead of hours.
Digitally-enabled, UPC Insurance provides customers with faster intake of first notice of loss (FNOL), touchless claims handling, enhanced payment capabilities including digital payments, and improved customer service on its self-service channels. Additionally, new product launches and product updates can now happen in weeks versus months. Leveraging analytics across the organization, UPC Insurance can take an insights-driven approach to optimizing customer experiences, gaining competitive advantage.
Venu Lambu, executive director and president, Global Markets, Mindtree, said: "We applaud UPC Insurance for taking bold new initiatives to become the premier carrier of catastrophe insurance in the U.S. and modernizing its core systems to achieve its digital transformation objectives. Together with Duck Creek, we are able to ensure on-time, on-budget delivery of solutions - allowing UPC Insurance to deploy new products at the speed of business, and to provide its customers with an improved digital experience.
Mindtree is an international information technology consulting and implementation company that delivers business solutions through global software development.
The IT company reported a 2.8% decline in consolidated net profit to Rs 317.30 crore on 4.2% increase in revenues to Rs 2,109.30 crore in Q4 March 2021 over Q3 December 2020.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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