Insurance
The fusion of the insurance industry with digital technology is accelerating
innovation in the insurance sector. Mainline's Insurtech IDP solutions are essential
for enhancing competitiveness in the future insurance industry.
Insurance Value Chain and Magic Solution
Mainline is developing process automation solutions for the entire insurance operation,
from product development and revisions/updates to claims processing for claim payouts.
Key Features
-
- Operational efficiency
- Increased productivity for simple and repetitive document information revisions
and updates through document processing automation
-
- Cost reduction
- Reduced personnel and management costs for processing documents such as policies
and valuation templates
-
- Data integrity
- Elimination of human error risks, ensuring accurate calculation of claim payouts
and document processing
Fields of Applications
Innovation of operational processes in insurance such as product development, underwriting,
claims, actuarial science, and IFRS 17.
-
Automated product development and management
- Fundamental document management
- Automation and optimization of
document work such as revisions/updates
of fundamental documents (e.g., insurance policies, valuation templates, operational procedure guides), including batch
changes, document comparisons, and
the provision of change control tables
- Custom insurance products
- Mapping main contracts and riders
of customer-specific policies to create
individualized policies for each customer
-
Automated PV renewal and calculation
- PV renewal and calculation
- Automatic extraction of information from
valuation templates for automatic renewal
and calculation of insurance premiums
and liability reserves
- Basic rate modification and management
- Reflecting calculation results by changing or
adding interest rates, operating expenses,
and risk rates of renewed products
(saving changed basic rates in database)
-
Automated claims compensation system
- Claim payout calculation
- Creating and managing payout
condition-specific rules based on policy
coverage and real-time automatic
calculation of claim payouts
- Automated claims processing
- Extracting information by parsing
policy coverage, batch-categorizing and
databasing coverage patterns, and linking
product coverage for automatic
calculation/payment of fixed amounts
and actual losses
Insurance Solution
-
MCP
(Micro Cube Platform)
An intelligent
automation platform
for insurance operations -
MagicTerms
A solution for managing
fundamental insurance
documents -
MagicPV
An automation solution
for renewing and
calculating premiums and
liability reserves -
MagicClaim
A solution for calculating
claim payments based on
policy terms -
ezPortal
A document
management portal
(MCP Version/Web Version)