Bengaluru-based information technology services provider Mphasis has signed a partnership with French data management solutions provider Oodrive for digital authentication of insurance contracts.
As part of the partnership, Oodrive’s digital signature solution CertSign will be integrated with Wynsure, the insurance industry-focused solutions suite developed by Mphasis.
The partnership would result in ten times lower management and administrative costs for subscription processes, which would also result in shorter processing time, said a joint statement issued by the companies.
Embedding Oodrive’s offering would render the lifecycle of insurance contracts paperless for customers in France, the statement added.
With the integration of CertSign, Mphasis will be able to offer services such as digital subscription and paperless authentication of signatures.
The CertSign solution would also help improve transformation rates, which in turn would result in stronger retention of customers in favour of a paperless subscription process.
“Having the capabilities to provide insurers with support and prepare them for a digital future is a priority for Mphasis. Through this complementary partnership with Oodrive, we are perfectly placed to drive true digital transformation for new and existing insurance customers. A crucial factor in our choice, besides the technological excellence of the Oodrive solution and its proximity to our French customers, is that it offers the best certificates and digital signature standards. The company also offers extensive knowledge and expertise on the sector’s transformation issues,” said Anurag Bhatia, head of Europe, Mphasis.
The rise of technology-driven insurance companies and customer demand for digital and tailored services has compelled Mphasis to focus on establishing strategic collaborations with innovative technology partners to develop better digital customer solutions globally, particularly in Europe.
A number of Mphasis’ customers in the insurance industry have already implemented the CertSign solution. They are estimated to have produced over one million digital signatures in three years. The solution has now been deployed in France.
“Our CertSign solution is an additional step towards the digital transformation of the insurance industry. It responds to a major industry challenge. Not to mention, it is an essential component to the value chain and an offer end-users have been eagerly waiting for,” said Sylvain Lefeuvre, head of sales channel, Oodrive.
Paris-based Oodrive develops cloud-driven business solutions for enterprises. Claiming to be a leader in solutions that carry out the management of sensitive data, the company also provides digital workplace solutions to facilitate data sharing. The company has operations in Europe and Asia.
Mphasis provides software services such as application development, data centres, business process management and user experience management.
Promoted by venture capital firm Blackstone, Mphasis caters to sectors such as energy, government, healthcare, hospitality, life sciences, manufacturing and telecommunications.
Recent developments pertaining to Mphasis
Mphasis has been granted a patent by the US Patent and Trademark Office (USPTO) for its artificial intelligence (AI) systems that can undertake cognitive analysis of data.
In July, Mphasis inked a deal with application analytics platform AppDynamics to improve application performance and reliability issues on an enterprise-wide scale.
Earlier this year, Mphasis partnered business process management company Camunda to grow its presence in the global financial markets.