ACTLOGICA: Empowering Life Insurance Companies with Next Generation Software Tool
Ameet Ayare, Co-Founder
Insurance companies across the globe are in a bid to re-invent them and are hence embracing new technologies. Most Insurance companies with their Actuarial teams are facing the challenge of getting a product to market fast, ensure that the models developed for a specific product are setup correctly in the downstream applications and help the sales teams in bringing in quality sales. Hence these companies are looking for solution providers that provide next-generation software tools which will help them in achieving these goals.
Acknowledging these challenges, Hyderabad headquartered Actlogica has built a very intelligent software for Life Insurance companies - Avislic. Actlogica’s long-term goal for Life Insurance companies has always been to create a suite of tools that helps in streamlining the actuarial operations to bring inefficiency in the product research, modeling, development, testing, and sales areas. Avislic is a product research and design platform for designing product features along with the ability to quote premium rates and a testing module for testing new products and existing products. It is also a sales platform where the sales personnel can create visually appealing, easy to understand benefit illustrations of the product being sold alongside other products in the market. At the heart of Avislic is an actuarial engine core that drives all of the individual platforms offered as solutions for different divisions of a life insurance company.
“Be it automation solutions for insurance companies or solutions for
insurance advisors or even tools for policy holders – we love developing platforms for all these stake holders. We have a passion to engineer and simplify the insurance related processes by using the most appropriate technology,” affirms Ameet Ayare, Co-Founder, Actlogica.
Actlogica engineers solutions that empower businesses from finance, insurance, and banking industries with intelligence about their customers. They help the sales teams with increased quality of sales; add value to investments teams with access to analyses about assets, liabilities and future projections and many other commonly unsolved areas in the business.
"We have a passion to engineer and simplify the insurance related processes by using the most appropriate technology"
With the successful collaboration of the actuaries and engineering teams, the company has been able to create an engine that is capable of producing future cash flows of all asset classes including Life Insurance. The company follows Agile Methodology for software development and management of the company. When a creative idea is born, it’s brainstormed with the company’s Actuarial team and is groomed with senior engineers and architects.
With the successful collaboration of the actuaries and engineering teams, the company has been able to create an engine that is capable of producing future cash flows of all asset classes including Life Insurance. The company follows Agile Methodology for software development and management of the company. When a creative idea is born, it’s brainstormed with the company’s Actuarial team and is groomed with senior engineers and architects.
Actlogica is investing its time, effort and money into practical research and technologies such as ML and Blockchain as they are planning to develop additional modules of Avislic platform using these technologies. The company is conducting experiments with Blockchain driven platform for the banking sector to eradicate the need for documentation and eliminate credit fraud.
Actlogica engineers solutions that empower businesses from finance, insurance, and banking industries with intelligence about their customers. They help the sales teams with increased quality of sales; add value to investments teams with access to analyses about assets, liabilities and future projections and many other commonly unsolved areas in the business.
"We have a passion to engineer and simplify the insurance related processes by using the most appropriate technology"
With the successful collaboration of the actuaries and engineering teams, the company has been able to create an engine that is capable of producing future cash flows of all asset classes including Life Insurance. The company follows Agile Methodology for software development and management of the company. When a creative idea is born, it’s brainstormed with the company’s Actuarial team and is groomed with senior engineers and architects.
With the successful collaboration of the actuaries and engineering teams, the company has been able to create an engine that is capable of producing future cash flows of all asset classes including Life Insurance. The company follows Agile Methodology for software development and management of the company. When a creative idea is born, it’s brainstormed with the company’s Actuarial team and is groomed with senior engineers and architects.
Actlogica is investing its time, effort and money into practical research and technologies such as ML and Blockchain as they are planning to develop additional modules of Avislic platform using these technologies. The company is conducting experiments with Blockchain driven platform for the banking sector to eradicate the need for documentation and eliminate credit fraud.
