Mastering the Journey with AWS Competencies
Holding AWS Competencies in Data and Analytics, GenAI, Machine Learning, and DevOps underscores our expertise in integrating these pivotal technologies to foster robust and scalable business solutions.
Generative AI Competency
AWS Generative AI Competency Partners possess a unique advantage in driving the advancement of services, tools, and infrastructure pivotal for implementing Generative AI technologies and excel in designing and developing cutting-edge applications across diverse Industries.
Recognized by AWS for excellence in Data, Analytics and AI/ML, our award-winning solutions redefine what’s possible in enterprise data and analytics.
Our team understands the intricate nature and complexities of AWS and our experts in building cutting-edge solutions that harness the full potential of its vast ecosystem. By selecting and optimizing the right combination of AWS services, we ensure that each solution is tailored to meet both the technical and business objectives of our clients with precision.
As an advanced Consulting Partner, we also understand the complexities of effectively using data to build use cases around AI/ML, Business Intelligence and DaaS. Leveraging our deep domain expertise and technical experience, we work with our customers across the entire transformation cycle, i.e. conceptualization, design, development, etc.
Data Strategy &
Consulting
Data Maturity Assessment
Migration & Modernization
Data Architecture Design
Cloud Roadmap Development
Data Governance
Data Quality Management
Data Privacy & Security
Platform Monitoring
Data Governance Consulting
Business Intelligence
Advanced Reporting Solutions
Real-time Data Visualization
NLP-driven Dashboards
FnD, KPI, Reporting Marts
Data Strategy &
Consulting
Data Maturity Assessment
Migration & Modernization
Data Architecture Design
Cloud Roadmap Development
Data Governance
Data Quality Management
Data Privacy & Security
Platform Monitoring
Data Governance Consulting
Business Intelligence
Advanced Reporting Solutions
Real-time Data Visualization
NLP-driven Dashboards
FnD, KPI, Reporting Marts
- 1
Gen AI-based Underwriting Engine for a Leading Indian Life Insurance Organization
- 100% Compliance Improvement: Full audit capability with an AI-based independent process.
- Improved Turnaround Time (TAT): Faster processing with full explainability
- Enhanced Customer Experience: Quick and consistent decision-making
- Scalability: Seamless integration for expanding across more cases
- Risk Management: Higher accuracy in identifying risk, reducing fraud, and streamlining the process
- 2
Dynamic Customer Nudges for Consistent Customer Experience Across Channels for a Leading Private Bank
- 3
Offer Engine for Multiple Products/Programs for a Leading Private Bank
- 4
Delinquency Management Through an Early Warning System (EWS) for a Leading Private Bank
- 5
Customer Data Platform for Accelerating Customer-Centric Use Cases for a Leading Indian Life Insurance Company
- 6
Data Warehouse Migration & Automated Reporting for a Leading Indian Life Insurance Company
In the fast-paced and competitive sector of life insurance, staying ahead means embracing innovation. For one of the country’s leading life insurance organizations, managing the underwriting process for over 4 million customers became increasingly challenging.
Problem
The traditional Underwriting process was highly dependent on static rules and Business Rule Engine (BRE), which were no longer sufficient to meet the ever-changing dynamics and demands of the industry. Because of the high dependence on manual processing, their entire process posed a high risk, especially during the month-end cycles when underwriters (UWs) raced to meet sales targets.
But the greatest concern was accuracy and compliance. With so much riding on human judgment, there was always the risk of missing crucial details—leading to delayed or inaccurate reporting to reinsurers and regulatory bodies. It was clear: this traditional, approach wasn’t sustainable or scalable
Solution
To address the challenges in the underwriting process, LUMIQ developed a Gen AI-powered Underwriting Engine designed to support, complement, and enhance underwriters’ expertise with cutting-edge AI capabilities. This innovative system leveraged historical data, underwriting guidelines, and behavioral analytics to assess each case, providing data-driven recommendations that underwriters could easily review, modify, or approve.
The GenAI engine integrated seamlessly with the insurer’s existing systems via APIs, allowing the AI’s insights to be readily accessible without disrupting current workflows. This adaptive system was designed for transparency, as each AI-generated recommendation included clear, detailed explanations. This explainability feature was crucial in building trust, as it ensured that underwriters understood the rationale behind each decision and could confidently rely on AI support for faster, consistent, and more accurate underwriting.
Additionally, the solution incorporated personal due diligence tools to flag high-risk applications, further improving compliance and fraud detection. The model’s architecture allowed scalability, enabling the insurer to expand the engine’s capabilities to handle increasing volumes and complexities as the business grew.
Impact
1
Gen AI-based Underwriting Engine for a Leading Indian Life Insurance Organization
Read More
2
Dynamic Customer Nudges for Consistent Customer Experience Across Channels for a Leading Private Bank
Read More
3
Offer Engine for Multiple Products/Programs for a Leading Private Bank
Read More
4
Delinquency Management Through an Early Warning System (EWS) for a Leading Private Bank
Read More
5
Customer Data Platform for Accelerating Customer-Centric Use Cases for a Leading Indian Life Insurance Company
Read More
6
Data Warehouse Migration & Automated Reporting for a Leading Indian Life Insurance Company
Read More
In the fast-paced and competitive sector of life insurance, staying ahead means embracing innovation. For one of the country’s leading life insurance organizations, managing the underwriting process for over 4 million customers became increasingly challenging.
Problem
The traditional Underwriting process was highly dependent on static rules and Business Rule Engine (BRE), which were no longer sufficient to meet the ever-changing dynamics and demands of the industry. Because of the high dependence on manual processing, their entire process posed a high risk, especially during the month-end cycles when underwriters (UWs) raced to meet sales targets.
But the greatest concern was accuracy and compliance. With so much riding on human judgment, there was always the risk of missing crucial details—leading to delayed or inaccurate reporting to reinsurers and regulatory bodies. It was clear: this traditional, approach wasn’t sustainable or scalable
Solution
To address the challenges in the underwriting process, LUMIQ developed a Gen AI-powered Underwriting Engine designed to support, complement, and enhance underwriters’ expertise with cutting-edge AI capabilities. This innovative system leveraged historical data, underwriting guidelines, and behavioral analytics to assess each case, providing data-driven recommendations that underwriters could easily review, modify, or approve.
The GenAI engine integrated seamlessly with the insurer’s existing systems via APIs, allowing the AI’s insights to be readily accessible without disrupting current workflows. This adaptive system was designed for transparency, as each AI-generated recommendation included clear, detailed explanations. This explainability feature was crucial in building trust, as it ensured that underwriters understood the rationale behind each decision and could confidently rely on AI support for faster, consistent, and more accurate underwriting.
Additionally, the solution incorporated personal due diligence tools to flag high-risk applications, further improving compliance and fraud detection. The model’s architecture allowed scalability, enabling the insurer to expand the engine’s capabilities to handle increasing volumes and complexities as the business grew.
Impact
- 100% Compliance Improvement: Full audit capability with an AI-based independent process.
- Improved Turnaround Time (TAT): Faster processing with full explainability
- Enhanced Customer Experience: Quick and consistent decision-making
- Scalability: Seamless integration for expanding across more cases
- Risk Management: Higher accuracy in identifying risk, reducing fraud, and streamlining the process
The team demonstrated their deep understanding of the business, data and Al technology to deliver many successful projects in our Collections and Risk Control departments. We benefitted from their consistent data management support.
TVS Credit
Crisp Analytics (LUMIQ) excels in futuristic solution architecture, leveraging strong data science and engineering expertise for efficient, effective data solutions. They smartly utilize Amazon services for tailored solutions.
HDFC Life
LUMIQ's Data Engineering team established a unified system, storing deduplicated customer profiles and loan applications, enabling instant identification for Moratorium, streamlining customer servicing and personalized loan journeys.
CLIX