Zensar subsidiary Cynosure showcases digital-transformation solutions for insurance sector

Zensar subsidiary Cynosure showcases digital-transformation solutions for insurance sector
Photo Credit: Photo Credit: VCCircle
4 Jun, 2019

Zensar Technologies subsidiary Cynosure has showcased its digital-transformation solutions for the insurance sector, with an eye on the multi-billion-dollar global market. 

“Today’s customer is a digital buyer, and insurance companies need to be disruptive,” said Sandeep Kishore, chief executive officer and managing director, Zensar, which is a digital solutions and technology services company based in Pune.

As part of the rollout, the company showcased a few solutions including two self-service mobile applications for insurance-claim applicants and policy holders which are built on artificial intelligence (AI) and machine learning (ML) technologies integrated with Guidewire’s core systems. 

Guidewire is a US-based SaaS firm that offers software for property and casualty insurance providers. 

Cynosure added that the new solutions offer first notice of loss (FNOL) vehicle-damage claims mobile app, FNOL home claims mobile app based on AI and ML technologies, omnichannel insurance chatbot and a smart-home insurance platform.

Explaining further, the company said that the vehicle-damage app and the home-claims app use AI to assess damage and draw up a claim estimate which helps in faster adjudication. 

The omnichannel insurance chatbot, which comes with natural-language processing capabilities, helps automate core insurance processes. 

"With Zensar’s Bot Insurance, users can now self-manage claims and policies in an engaging and interactive way. Our bots understand buyers’ questions and guides them to select a suitable package. It also immediately answers other contextual queries which are riddling the buyer,” Malay Verma, executive vice-president and head of BFSI and retail, Zensar US, said. “It helps manage policy-related change requests and enhances claim management experience by making it convenient to report loss, reduces steps to file a claim and tracks status in real time," Verma added.

He said that the smart-home solution uses real-time data gathered from sensors, which detect various parameters such as temperature, humidity, and smoke inside house. The solution can automatically adjust the environment to make it more comfortable or send an alert to the home owner in case of emergency, he explained, adding that web and mobile dashboards are used to monitor and supervise safety of the house.