The TCS Innovation Labs – Insurance takes up areas of research either by Technology Forward or Business Backward approach.

• In the COIN ecosystem, the TCS Technology Innovation Labs provide information on technology trends which can potentially be used in the Insurance industry. Then the Insurance Innovation Lab takes it up for possible application on a technology for insurance industry problems. This is the ‘Technology Forward’ approach of taking up a technology and researching on effective or innovative use of the technology to solve business problems or leverage it for new business models or processes.

• The TCS Innovation Labs - Insurance takes up Insurance business problems and initiates research on identifying or applying suitable technologies for the problems. This is the ‘Business Backward’ approach of taking up business problems and researching on a suitable technology to address the problems.

• Collaboration with other TCS Domain Innovation Labs helps to bring innovation and best practices from other industries (domains) in the Insurance industry providing a ‘Cross Pollination of Ideas’.

 Areas of research work in the lab include (but are not limited to): 

• Improving Operational Efficiency of various key stakeholders including insurers, policy holders, agents and service providers through use of emerging technologies 
• Managing Customer Lifestyle through proactive advice and support in the area of health, travel and automobiles. 
• Improving Customer Experience and Relationship through customer self-service systems, business process management, customer profiling and customer driven product design. 
• Insurance Product Innovation in the creation of new products to meet the changing market needs as well as in the process of designing and launching new products. 
• Enabling micro insurance especially in emerging markets like India and China by offering convenience at an affordable cost using technology.
• Straight Through Processing (STP) and Process Improvements in the Insurance business process  

• Improving Member Experience with Web 2.0

• Business Intelligence and Analytics in Insurance

• Next Generation Architecture for IT Systems for Insurance: Software as a Service (SaaS), Cloud Computing (CC) solutions for Insurance
• Model Driven Development (MDD) and Testing for developing large IT systems for Insurance
• Reference Architecture for Insurance systems 

• Solutions are available as software solutions and assets, and also as processes, methodologies and frameworks.

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