FuturaInsTech

FuturaInsTech is a product company formed by a team of Insurance IT professionals having a collective experience of over 120 person years. This experience has endowed FuturaInsTech a very deep understanding of the Insurance business across different geographies. The team has extensive hands on experience in successfully completing IT, Insurance Transformation, Migration, System Integration,Business Process Re-engineering projects, implementing and maintaining Insurance applications built on legacy and modern technologies. FuturaInsTech’s solutions include Products and Services for insurance companies to help them focus on their core business while keeping the Cost of Ownership at minimum.

Planning & Consulting

We provide support to insurance companies in planning and implementing Product configuration, modernization of legacy applications, Technical and Business Solutions, and Post Production services

Technologies

Having the core technology expertise we provide hassle-free Migration, Transformation and Business Process Re-engineering services to insurance companies to achieve their business objectives

Collaboration

Bridging Insurance and Product Software companies in the areas of Migration of data from legacy system to target system, Product Configuration, UAT support and Product implementation

Overview

FuturaInsTech is a start-up Insurance FinTech company established by 1st generation entrepreneurs.FuturaInsTech is an association of hands on IT people with over three decades of experience in Insurance and have carried out multiple core insurance transformation projects spanning over two decades. The team’s IT journey started in pre-Y2K era and has travelled through Y2K conversion and Support, Core Insurance Implementations both green field as well as Migrations.

Insurance Focus

Global delivery expertise
Regulatory understanding
Market intelligence
Regional Expertise
- Americas, EMEA, APAC, South Africa

Benefits

Reduced Cost of Ownership
On-shore and Off-shore
One shop for IT and Business Consulting
24/7 support
Reduced TAT for product development/customization

Capabilities

IT and Insurance Experts
Technology Thought Leadership
Technology Transformation

Our Team

Rangarajan Ramanujam

Chief Executive Officer

V R Ravichandran

Chief Operating Officer

Shijith Chand

Chief Technology Officer

Satish Natarajan

Director - Business Consultancy

Our Product Offerings

“Our Product suite offers scalable, sustainable and cost-effective solutions that will help our clients realize increase in market share”

Our insurance solutions are designed to be offered both as an integrated solution as well as modular solutions that supports the complete life cycle of the insurance policy administration

Core Policy Administration

Ninja is a framework used for modernization of legacy policy admin systems
Built on contemporary technologies - Angular, Spring boot, Python & Flutter
Friendly user interface with intuitive menu navigation
Enables rapid conversion of applications from legacy to modern technologies

Agency Management

Agency Management System (AMS) offers comprehensive functionality
Designed to support the end to end process
o Agent on-boarding to Agent termination
Multiple hierarchies can be defined
Incentive calculations at different hierarchical levels
Allows agency transfers, promotions and the related compensation changes
Campaign management and targets
Accounting entries generated for the financial transactions
Capability to integrate with third party systems using API
Report generation

Integration Utilities

Bulk upload utility – insured members, demography data etc
Upload data into policy administration system
   o Premium rates
   o Bank file - Premium collections & reversals
   o Commission rates
   o Charges and expenses

Digital Offering

MRTA/Loan Cover insurance policy creation from mobile devices
Agency Management System offered in mobile phones
Proposal data management in mobile devices
Policy enquiries - policy status, surrender values, due dates from mobile device

Our Service Offerings

“We commit to deliver sustainable and cost-effective service offerings that will help our clients to offer best in class customer service ”

We have a wide range of service offerings with the right set of skilled professionals who come with extensive experience in these disciplines.

Consulting

Application Maintenance and Support

Core Insurance Transformation

New Technology Initiatives

Compliance

Expertise in Insurance Applications

Our expertise is in leading and implementing core Insurance third party applications such as
   o LIFE/Asia also known as Integral Life
   o Ingenium and CAPSIL
   o eBaoTech Life Insurance Suites
   o POLISY/Asia, Group/Asia
   o SAP for Insurance suites such as FS-PM, FS-RI, FS-LRM, FS-CM, FS-CD, FS-PQM
   o Cyber Life and Vantage
Insurance modelling tools such as VP/MS, PX (Product Express) and msg.PM
Expertise in integration with Peripheral Systems
Maintenance and support of home-grown applications of various Insurance companies

A Little More About Us

Our Operational Model

Cost effectiveness

Cost effective solutions with blend of experience people with young team with T&M.

Model of operation

Our model of operation is predominantly near/off shore based on customer requirements.

Demand

Onsite on demand.

Services

We provide contract or subcontract services as per prevailing customer policies.