Insurance - Sofka US

Insurance Insight-Driven Journey

Gain a competitive edge in the insurance industry by leveraging data-driven insights. During our consulting journey, we act as partners to help you develop efficiency, strategy, innovation, vision, and leadership levers—everything you need to navigate the ever-changing landscape and thrive amidst valuable data insights.

Use Cases

Lever 1

Efficiency

Governance Insights

Cost-effective infrastructure, governed data, accessible and accurate for consumption with relevance and nimbleness.
Challenge: Collecting and integrating data from various sources within the company.
Achievement: Optimized operation with a high performance to process claims efficiently, mitigate errors, delays and dissatisfied customers.

Lever 2

Strategy

Descriptive Insights

Enable well-informed decision-making through comprehensive 360° monitoring of operations and the entire business, spanning operational, strategic, and tactical levels.
Challenge: Lack of visibility of operation and business processes for corporate strategic decisions.
Achievement: Increase in ROI and operational efficiency through a 360° monitoring solution based on the design and implementation of operational, tactical and strategic dashboards.

Lever 3

Innovation

Predictive-Prescriptive Insights

Assess the influence on both operations and overall business by leveraging predictive and prescriptive capabilities, as well as extracting invaluable market insights through advanced modeling.
Challenge: The insurance company policy expedition processes required a lot of manual effort producing manual errors and delays in customer service.
Achievement: An AI-based prescription solution for policy expedition was implemented, achieving a drastic reduction in manual effort, high performance and a quick customer response.

Lever 4

Vision

Business Wins Insights

Impact on ROI from the generation of highly competitive business opportunities and the monetization of information (Data-driven decision-making).
Challenge: Based on the good results obtained from the Business data-driven transformation process, to achieve disruptive solutions to eliminate inefficiencies in the operation and increase the business impact.
Achievement: Utilizing AI-based modeling we analyzed the integrated data for creating predictive models to assess the probability of a claim´s legitimacy, estimate claims amounts, and predict potential fraud.

Lever 5

Leadership

Competitive Insights

Implementing data-driven transformation and fostering a strong culture within the business, enabling market leadership on local, regional, and global scales.
Challenge: To develop a market edge regarding the customer knowledge and behavior to stay ahead of the competition.
Achievement: Through the customer pattern extracted and our data monetization approach, the company opened a new business line based on the prediction of associative acquisition of financial products.

Lever 1

Efficiency
Governance Insights
Cost-effective infrastructure, governed data, accessible and accurate for consumption with relevance and nimbleness.

Lever 2

Strategy
Descriptive Insights
Enable well-informed decision-making through comprehensive 360° monitoring of operations and the entire business, spanning operational, strategic, and tactical levels.

Lever 3

Innovation
Predictive-Prescriptive Insights
Assess the influence on both operations and overall business by leveraging predictive and prescriptive capabilities, as well as extracting invaluable market insights through advanced modeling..

Lever 4

Vision
Business Wins Insights
Impact on ROI from the generation of highly competitive business opportunities and the monetization of information (Data-driven decision-making).

Lever 5

Leadership
Competitive Insights
Implementing data-driven transformation and fostering a strong culture within the business, enabling market leadership on local, regional, and global scales.

Lever 1

Efficiency

Governance Insights

Cost-effective infrastructure, governed data, accessible and accurate for consumption with relevance and nimbleness.

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Lever 2

Strategy

Descriptive Insights

Enable well-informed decision-making through comprehensive 360° monitoring of operations and the entire business, spanning operational, strategic, and tactical levels.

Click Here

Lever 3

Innovation

Predictive-Prescriptive Insights

Assess the influence on both operations and overall business by leveraging predictive and prescriptive capabilities, as well as extracting invaluable market insights through advanced modeling.

Click Here

Lever 4

Vision

Business Wins Insights

Impact on ROI from the generation of highly competitive business opportunities and the monetization of information (Data-driven decision-making).

Click Here

Lever 5

Leadership

Competitive Insights

Implementing data-driven transformation and fostering a strong culture within the business, enabling market leadership on local, regional, and global scales.

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Enhance your business with our Insurance Insight Assessment

Our clients

Welcome to the world of innovation with Sofka Technologies! In this video, immerse yourself in technology solutions we’re bringing to the insurance industry. Discover how we implement our exclusive methodology Insight Driven Journey to elevate digital transformation to operation and businesses of you organization.

Discover the lever you are, Take a quick assessment!

Insight-Driven Journey
Success stories

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Lever 1

Challenge
Collecting and integrating data from various sources within the company.

Achievement
Optimized operation with a high performance to process claims efficiently, mitigate errors, delays and dissatisfied customers.

Case study

The way we work with integrations in the finance industry

Adapting traditional banking services to meet the changing demands of the current market in transition to digital banking.

Our approach involves transforming existing banking services through the application of an “APIfication” strategy, enabling seamless integrations and facilitating future evolutions. We embrace a collaborative approach, leveraging a multifunctional team of professionals specialized in different technologies, all working towards a common goal.

We achieved:

The access of new markets through easy integration.
Improve the customer and partner experience.

Case study

Our app development in the insurance sector

We had a big challenge: to implement a system for visit management, medication application and sample collection for hospitalized medical patients at home.

We created a solution that allows scheduling the logistics of visits, the collection of sample data in the field through mobile devices and the collection of important information on the status of patients. Given the complex of this solution, a reactive architecture was implemented to support the variation in the use of the application, which faced peaks of use with a very good response time during the Covid19 pandemic.

Our client achieved: Efficiency in the planning of routes and visits executed by the medical units. Possibility of collecting information in the field Efficiency in resource management with an elastic infrastructure that grows and shrinks according to use and demand.

Case study

We change the traditional banking to a digital one!

To enhance the provision of services to customers in a more efficient and flexible manner, overcoming the limitations of traditional banking core systems.

We proposed the implementation of a Minimum Viable Product (MVP) for Digital Banking, utilizing the MAMBU core as the financial product platform.

This involved customizing the capabilities of the new core to align with the specific requirements of the bank and comply with Ecuadorian legislation.

Additionally, we recommend forming a dedicated SWAT team comprising essential roles such as a Project Manager, developers, and test automation experts to ensure seamless integration with the new core.

We enhanced customer and partner experience, resulting in improved satisfaction levels.

Case study

How does Sofka strengthened a digital wallet for one of the most important finance groups in Colombia?

A digital account that can be loaded with your own money and through which transfers can be made, and money can be received using the mobile phone number. ¡We make it simple and real!

Accelerating the transformation of the platform to offer financial services to the final clients, businesses, and partners (Banking as a Service), leveraging all the current capabilities of Grupo Aval.

We are building the new version of the platform (a digital wallet) to offer the current financial services in a more efficient manner, while also creating capabilities to enhance the implementation of new services. We are leveraging Mambu as the Core Banking system and Frame Banking as the transactional accelerator.

Our team is based on cells covering all areas of work: UX/UI, Product Owner, Frontend, Backend, QA Automation, DevSecOps, Technical Leader (Architect), Agile Coach (Project Leader), and IT Governance.

We aim to increase the number of clients and partners for dale! by offering a 100% digital onboarding process and enhancing the user experience of financial services to compete with existing digital wallets in Colombia.

From a technological standpoint, our goal is to achieve a service platform with an architecture that enables us to improve the time to market for new services, especially for Banking as a Service.

Case study

How did we implement the cloud infrastructure for a bank?

Before implementing infrastructure automation with our client, they faced challenges such as error-prone manual configurations, lack of consistency across environments, and difficulties in quickly scaling their infrastructure to meet business demands.

Our automation team at Sofka Technologies developed infrastructure as code using tools like Terraform, Ansible, and Kubernetes. Scripts and templates were created to describe the desired infrastructure, including servers, networks, databases, and other resources. These scripts and templates were versioned and stored in a version control repository.

By automating infrastructure as code, we enabled our client to provision and configure their infrastructure quickly and reproducibly. Now, with a single command, they can create and deploy all the necessary infrastructure for their applications in minutes, instead of the hours or days it previously took.

Lever 1

Lever 2

Lever 3

Lever 4

Lever 5

Our clients

Insight-Driven Journey Success stories

Let's chat

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Lever 2

Lever 3

Lever 4

Lever 5

Insight-Driven Journey
Success stories