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P&C Insurance

Overview

At Sonata Software, we redefine excellence in Property &Casualty (P&C) Insurance Solutions with innovation and efficiency at our core. Our tailored policy administration and advanced analytics empower insurers to navigate complexities seamlessly and drive growth. Additionally, our platform approach for From First Notice of Loss (FNOL) intake ensures swift and efficient claims processing, while our modular solution integrates add-on features such as command center, RPA, bots, and advanced analytics. 

Offerings

Elevating P&C Insurance Solutions

  • Policy Administration Systems Customization & Support

    Policy Administration Systems Customization & Support

    Our experienced team ensures seamless integration, efficient workflows, and ongoing technical assistance for optimal performance of policy administration systems.

    Our experienced team ensures seamless integration, efficient workflows, and ongoing technical assistance for optimal performance of policy administration systems.

    Our experienced team ensures seamless integration, efficient workflows, and ongoing technical assistance for optimal performance of policy administration systems.

  • Claims Management Development & Support

    Claims Management Development & Support

    FNOL to settlement, our solutions optimize the entire claims handling process.
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    FNOL to settlement, our solutions optimize the entire claims handling process. By automating critical stages like intake, evaluation, and settlement, we significantly reduce turnaround times and enhance accuracy. This seamless automation ensures a cohesive and efficient approach, empowering insurers with a streamlined and accurate claims management solution that maximizes customer satisfaction. 

  • Automated Underwriting

    Automated Underwriting

    Leveraging intelligent algorithms to streamline the underwriting process, our solutions enhance risk assessment and expedite policy issuance.
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    Leveraging intelligent algorithms to streamline the underwriting process, our solutions enhance risk assessment and expedite policy issuance. With RPA & AI, we assess insurance applications, evaluate risks, and make accurate predictions based on extensive datasets and external sources. Our automated underwriting solutions empower insurers to make swift, data-driven decisions, optimizing efficiency and accuracy throughout the underwriting journey.

  • Billing Solutions

    Billing Solutions

    Designed to efficiently handle premium billing, invoicing, and payment processing, our solution ensures accurate and timely transactions, enhancing insurers' overall financial operations.
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    Designed to efficiently handle premium billing, invoicing, and payment processing, our solution ensures accurate and timely transactions, enhancing insurers' overall financial operations. Covering direct payments, customer accounts, agency statements, and recurring payments, our comprehensive billing systems cater to diverse customer preferences. This enables insurers to provide accurate and timely information to policyholders and agents, ultimately enhancing customer service and satisfaction. 

  • Compliance & Reporting

    Compliance & Reporting

    Our solution automates compliance processes and provides comprehensive reporting for informed decision-making and audits.
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    Our solution automates compliance processes and provides comprehensive reporting for informed decision-making and audits. Adhering to various regulatory frameworks, including prudential and marketplace regulations, we generate accurate reports on financial performance, claims management, and regulatory compliance. With streamlined processes, insurers benefit from transparency and adherence to regulatory standards.

  • Insurance Analytics & Insights

    Insurance Analytics & Insights

    Our comprehensive solution covers claims analysis, customer segmentation, pricing optimization, and fraud detection, empowering clients to make informed decisions.
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    Our comprehensive solution covers claims analysis, customer segmentation, pricing optimization, and fraud detection, empowering clients to make informed decisions. We provide actionable insights derived from real-time data collected from diverse sources, both internal and external. These insights inform underwriting, pricing, and risk assessment decisions, enhancing decision-making and profitability for insurers of all sizes. 

  • Customer Engagement

    Customer Engagement

    Transforming the insurance experience, our solutions include self-service portals, mobile apps, and personalized communication channels to effectively connect insurers with policyholders.
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    Transforming the insurance experience, our solutions include self-service portals, mobile apps, and personalized communication channels to effectively connect insurers with policyholders. Personalized communication ensures tailored interactions, strengthening customer relationships. With our comprehensive solutions, insurers elevate customer engagement, providing a modern, user-friendly experience for policyholders. 

  • Fraud Detection

    Fraud Detection

    Empowering insurance companies to identify potentially fraudulent activities, mitigate risks, and minimize financial losses, our solutions analyze claim data to identify abnormal behavior patterns.
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    Empowering insurance companies to identify potentially fraudulent activities, mitigate risks, and minimize financial losses, our solutions analyze claim data to identify abnormal behavior patterns. Leveraging insurer data and vast third-party sources, our solution accurately flags potentially fraudulent activities. From underwriting to claims processing, we enable insurers to make more informed and accurate decisions. 

Navigating the Insurance Terrain

Digital Contact Center  

In P&C insurance, our digital contact center streamlines customer interactions, providing clear guidance for claims processing, including filing and tracking. It facilitates digital communication with adjusters and empowers customers with educational resources on risk management and prevention strategies. Offering tailored content and easy-to-use policy management tools through digital channels, we ensure convenient access to policy documents and coverage updates. 

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Generative AI

Our generative AI solution enhances P&C insurance operations, facilitating instant policy issuance, streamlined claims processing, and automated incident reporting. Leveraging advanced algorithms, we optimize compliance documentation and efficiency, seamlessly adapting to regulatory changes. Through insightful customer analytics, we empower cross-selling recommendations, driving engagement and revenue.

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Data Privacy

Tailored for the P&C insurance sector, our comprehensive data privacy offerings encompass cutting-edge solutions leveraging AI. Automating privacy programs, we ensure meticulous compliance with stringent data privacy laws, including GDPR, CCPA, and GLBA. Safeguarding critical data points such as risk assessment data and claims information, our platform maintains the confidentiality and integrity of insured asset details, past claims history, and incident details.

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Microsoft Fabric  

Fabric transforms data analytics across key domains, ensuring regulatory compliance, fighting fraud, and improving risk and underwriting. Our platform offers data-driven insights, AI capabilities, and efficient data integration. Fabric also empowers P&C insurance organizations to navigate regulations, detect fraud, refine strategies, engage customers, and simplify onboarding.

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Advanced Technologies

Our RPA solution offers revolutionizes critical processes in the insurance industry. With Claims Processing Automation, we ensure quicker resolutions and improved customer satisfaction. Underwriting automation simplifies risk assessments and policy issuance, leading to increased efficiency. RPA enhances fraud detection and prevention by analyzing large data volumes and proactively identifying patterns that indicate fraudulent activities

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Success Stories

Delivering on Claims

As one of the world's largest independent providers of claims management services, the client faced challenges with fragmented systems for handling FNOL, causing delays in claims processing and subpar customer experiences. Sonata utilized its unique Platformation™ approach, leveraging Microsoft's Azure Cloud platform and other technologies to develop a robust FNOL solution. The solution not only ensures security but also delivers an easy and intuitive customer onboarding experience.

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