MetaMorphosys Technologies: Transforming The Legacy Insurance Landscape
Amit Naik, Co-Founder& CEO
Technology has virtually disrupted every aspect of the insurance value chain. The two biggest threats to traditional insurers are not being able to meet the expectations of the digital natives and to compete with new age digital insurance companies who do not carry the burden of legacy policy admin platforms. Insurers have realized that Insur Tech startups can help them compete with new age insurance companies and at the same time leverage the huge investments already made in existing legacy platforms.
MetaMorphoSys Technologies is an InsurTech focussed on building innovative B2B software products that address the business and IT challenges of the global Insurance Industry and transform the entire insurance value chain from customer acquisition to engagement.
MetaMorphoSys founders based on their deep insurance domain experience and solutioning expertise to architect innovative products have created the On Demand/On Premise MetaMorphoSys Digital Insurance Platform which completely disrupts the way insurance products can be launched, distributed and serviced. Three of the top 20 global insurance companies are using this platform to launch innovative products and empower the sales force.
MetaMorphoSys Digital Platform supports innovative Motor, Travel, PA, Property/Home, Life, Health, Low Ticket, Episodic and Micro insurance products.
Product Configurator, Rating/ Quoting Engine, Underwriting and Claims Engine
MetaMorphoSys products are powered by configurable rating, underwriting & claims engine and algorithms to make insurance relevant to the prospect needs. Apart from the traditional products the product configurator is designed to support new age products like episodic insurance, bundled and packaged product, dynamic pricing based products and Pay As You Go Insurance products. The underwriting engine has the capability to learn based on existing patterns and case history.
The global best practices of Asia Pacific market have already been built into the base product so customers can leverage the innovation and best practices.
The claims Engine facilitates in creating the claims registration, helps in auto adjudication and identification of fraudulent transaction patterns and fraud rings through its Fraud Analytics feature.
Customer Acquisition Platform/ Point of Sales
MetaMorphoSys’customer acquisition platform enables agents to plan and perform their day-to-day activities and ensure that they can close the sale
at the point of sales. The platform empowers the distribution channels by catering to end to end customer acquisition cycle. The agents can generate own leads or the insurance company can auto allocate the leads based on various criteria by capturing the leads, activities and quotations. The platform consists of features such as e-signature, e-document, e-submission, auto underwriting and policy issuance. This app is an omnichannel and end-to-end platform that works offline except during the policy issuance process. The MetaMorphoSys digital platform is a cloud based app which is available on Android and iOS platforms. This app can be used by the banks, tied agents and bancassurance as well. While the Customer Acquisition platform helps agents in acquiring customers, the Customer Engagement platform facilitates customers to communicate with the agents, leading to positive customer experience resulting in customer retention.
"Our product team keeps track of the latest technological developments and constantly innovates and translates business requirements into technological products and thus was selected as one of the 39 most promising startups for Innotrek by NASSCOM"
The MetaMorphoSys digital platform suite consists of various platforms such as the recommendation and sales analytics engine, product configurator and rating engine and ThUnderwrite, New Business Digital Platform and usage based insurance platform. This app has been integrated with social media applications such as Facebook and Whatsapp and can be purchased through these mediums.
Kewal Vargante, CTO
The founders have deep domain expertise in Asia Pacific and US insurance markets and have great exposure to all product lines such as life, health, motor, travel, property and new age products like micro, episodic and pay as you go insurance products. The team consists of do¬main experts and business analysts who provide insights on the current business trends. “Our product team keeps track of the latest technological developments and constantly innovates and translates business requirements into technological prod¬ucts and thus was selected as one of the 39 most promising startups for Innotrek by NASSCOM,” affirms Amit Naik, Co-Founder & CEO, MetaMorphoSys Technologies.
MetaMorphoSys Digital Insurance Platform addresses the key challenges of insurance companies like improving the sales effectiveness of agents, reducing the TAT, reduction in the new business acquisition cost, targeted products based on profile, enhanced claims experience, pay as you go insurance capability and the ability to retain existing customers during the sales and renewal cycle. “The policy issuance time has reduced from days to minutes”
"Our product team keeps track of the latest technological developments and constantly innovates and translates business requirements into technological products and thus was selected as one of the 39 most promising startups for Innotrek by NASSCOM"
The MetaMorphoSys digital platform suite consists of various platforms such as the recommendation and sales analytics engine, product configurator and rating engine and ThUnderwrite, New Business Digital Platform and usage based insurance platform. This app has been integrated with social media applications such as Facebook and Whatsapp and can be purchased through these mediums.
Kewal Vargante, CTO
The founders have deep domain expertise in Asia Pacific and US insurance markets and have great exposure to all product lines such as life, health, motor, travel, property and new age products like micro, episodic and pay as you go insurance products. The team consists of do¬main experts and business analysts who provide insights on the current business trends. “Our product team keeps track of the latest technological developments and constantly innovates and translates business requirements into technological prod¬ucts and thus was selected as one of the 39 most promising startups for Innotrek by NASSCOM,” affirms Amit Naik, Co-Founder & CEO, MetaMorphoSys Technologies.
MetaMorphoSys Digital Insurance Platform addresses the key challenges of insurance companies like improving the sales effectiveness of agents, reducing the TAT, reduction in the new business acquisition cost, targeted products based on profile, enhanced claims experience, pay as you go insurance capability and the ability to retain existing customers during the sales and renewal cycle. “The policy issuance time has reduced from days to minutes”
