MCP (Micro Cube Platform)
An intelligent automation platform
for insurance operations
MCP is a platform that automates insurance business processes from the development and revision/update of insurance products to the calculation of long-term claim payouts.
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Revisions/
updates of fundamental documents -
Customized policy terms for customers
-
Modification and management of basic rates
-
Renewal and calculation of insurance premiums and liability reserves
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Automatic rule creation based on policy coverage
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Calculation of customer claim payout
-
Document retrieval, management, and sharing
MCP Solutions
MCP is an intelligent insurance business automation platform that offers various specialized solutions for different insurance tasks, all based on the MCP Engine and available as modular plug-in options tailored to client needs.
Key Features
MCP maximizes operational productivity by automating data extraction from fundamental
documents for product revisions and updates, calculation of insurance premiums and reserves,
and calculation of claim payouts.
- AS IS
Two to three days on average per product
Manual amendment of individual policy terms
Risk of human error due to manual work
Manual management of target products
(renewal and revision history)Likelihood of errors in PVs calculated manually
by each responsible personSimple risk rate management and separate database creation through document files
Manual analysis of policy terms and calculation
of claim payouts by each responsible person
- MCP
Creation of change comparison tables
Batch amendments
of policy terms
Verification of consistency
Product renewal management
Calculation of PVs
Risk rate management
Calculation
of claim payouts
- TO BE
Automatically generated within one minute
One-click amendment of multiple policies via keyword search
Real-time automatic verification of errors and reference relationships
Automatic management of target products (automatic notification of renewal cycle and responsible person)
Automatic PV calculation and verification based on valuation templates
Automatic creation of document files and
related databasesAutomatic rule creation based on policy coverage and calculation of claim payouts
Product revision completion
rate increased to over 95%
*The above content is based on the internal system feasibility study data of an unnamed life insurance company.
Reference
MCP is a proven solution for top-tier insurance groups in Korea,
recognized for its outstanding technology, excellence, and productivity enhancement.
