Insurance industry is facing disruption on multiple fronts. There is increasing pressure on all functions to perform and derive more value to overall organization. Finance department is no exception to this. It acts like a gatekeeper to business’s most critical data. But it normally face challenges like fragmented & manual data, paper-heavy processes and increasing pressure of compliances. These challenges become hurdle in visibility and scalability of key data and processes leading to lack of transparency and increase in the risk associated with it.
NSEIT’s Finance Transformation Framework can leverage the power of data and analytics to transform the finance department. Our enterprise grade, secure and flexible solution with Agile BI methodology is built on the basic foundation of Data Engineering, Data Operations and Data Visualization. We can help Finance Department with data consolidation (combining premium registers across product lines), validation (between premium registers), reconciliation (like reinsurance summary etc.), management, modelling (to arrive at critical business KPIs like GWP, NEP etc) and reporting (holistic view of earnings, commissions, claims, expenses across LOB, branches, channels, products)
NSEIT can help business leader to achieve
Agile business operations