Skip to main content

Insurance: From legacy to best-in-class Data & AI capabilities

Outdated systems, scattered data, and compliance hurdles slow down digitisation and business growth. A structured pattern of technology and services clears the path connecting silos, modernizing infrastructure, streamlining M&A, and laying the groundwork for AI adoption.
iso-logoTisax-Logo

Build a solid foundation for AI

Image Alt

Consolidate IT systems
Bring together your organization-wide systems under one platform to reduce costs and complexity.

Image Alt

Secure data
Protect your data with strong security measures, including minimization, anonymization, access controls, and encryption.

Image Alt

Improve data quality
Clean up poor data quality and process unstructured documents, emails, and financial statements to drive better insights.

Image Alt

Implement data governance
Set up proper governance and automation to ensure consistent, complete data with full lineage tracking and metadata, essential for AI adoption.

Image Alt

Centralize fragmented data
Pull scattered data from finance, HR, claims, external systems, databases, and spreadsheets into one comprehensive system.

Image Alt

Integrate third-party data
Strategically connect external data sources like credit reports, public records, and IoT data to build a complete risk picture.

Improve insights and decision-making

Image Alt

Enable basic analytics
Enable basic analytics around consolidated data, once the data foundation is solid.

Image Alt

Build self-service capabilities
Develop self-service capabilities around existing data and Business Intelligence (BI) layers to lower entry barriers for Data/Business Analysts.

Image Alt

Automate manual tasks
Tackle burdensome and tedious manual tasks by automating them.

Image Alt

Increase data accessibility
Make data accessible to the broader business through a data catalog and tooling.

Image Alt

Foster collaboration
Bridge the gap between IT teams and executive leadership, ensuring technology strategy aligns with business goals.

Image Alt

Support data privacy and compliance requirements
Enable Bordereau reporting and comply with regulations, particularly concerning premiums, data, and security.

Enable predictive analytics with ML/AI

Image Alt

Leverage AI for data processing
Use GenAI to automatically process unstructured data, extract valuable insights, and provide more accurate risk and pricing.

Image Alt

Implement predictive analytics & fraud detection
Apply ML models to analyze structured data, identify patterns, make predictions, and detect anomalous patterns indicating fraudulent activity.

Image Alt

Utilize AI as a Co-Pilot
Deploy GenAI as an intelligent Underwriting assistant to answer questions, synthesize information, and draft communications.

Image Alt

Implement agentic AI process automation
Deploy autonomous AI systems that work collaboratively with specialized human-in-the-loop oversight to manage end-to-end workflows – from submission intake and risk triage to pricing recommendations.

Why a bespoke AI-ready data platform

A well-designed data platform lays the foundation for a company's growth, enables cross-sell, and helps your organization stay compliant in a highly regulated industry. We help you standardize processes, capture economies of scale, and onboard newly acquired carriers faster. Our comprehensive offerings are designed to meet your data maturity level and guide you towards AI-powered decision-making.

Modernize your data infrastructure

  • Reduce reliance on old technology
  • Create a stable enterprise data management capability
  • Connect data assets across and between businesses
  • Enable accurate decision-making capability by raising the bar on data quality
  • Connect external systems through single integration hub
  • Implement data classification, lineage, retention and consent management

Improve your business operations

  • Streamline M&A activities and speed up post-merger system alignment
  • Cut excessive operational costs without cutting corners
  • Give underwriters fast, accurate data to act with confidence
  • Fill critical skill gaps without long hiring delays
  • Clear the bottlenecks in decision-making processes
  • Educate leadership on AI use-cases and cyber risk management best practices

Produce innovative solutions

  • Unblock AI projects held back by poor data quality
  • Ensure AI investments deliver value, not just prototypes
  • Define target operating models for modern data and AI capabilities
  • Establish cross-functional IT teams to drive further enablement across the entire business
  • Secure sensitive data with tighter access controls and oversight
  • Set consistent standards to streamline work across silos

How we work

VirtusLab specializes in working with insurers at various levels of data and tech maturity, helping tech-underserved carriers modernize without disrupting core operations and supporting emerging digital-native startups to launch their business. We automate routine tasks to cut costs, replace outdated systems with a proven tech stack to reduce overhead, and fix data processes, so information is collected, stored, and used effectively. We bridge the gap between tech teams and leadership, making sure AI projects are tied to strategy and backed by a strong business case.

Legacy lock-in assessment

What is: Aging systems, siloed tools, ad-hoc reports

Pain points:

  • Inflexible systems
  • Manual rekeying and workarounds
  • High operational costs

How we enable you: Assess your current infrastructure and build a business-aligned data platform roadmap alongside a decommissioning approach to legacy systems

Infrastructure overhaul

What is: Starting to consolidate and stabilize

Pain points:

  • Fragile pipelines
  • Tool sprawl
  • Slow ingestion

How we enable you: Build reliable data pipelines, ingest faster, consolidate tools, stabilize core flows using modern technologies

Data foundation and quality

What is: Clean-up of inconsistent, ungoverned data

Pain points:

  • Poor data quality
  • No reuse
  • Compliance risk

How we enable you: Standardize data formats, raise data quality, bring SDLC practices, enable reuse, add governance layers

Business integration

What is: M&A integration or cross-department alignment

Pain points:

  • Duplicate data
  • Delayed or limited insights
  • Slow decision cycles

How we enable you: Align data structures post-M&A, provide shared access, unlock AI capabilities, and govern across the organization

Innovation & insight

What is: AI is live, decisions are faster, customers are happier

Pain points:

  • Executive buy-in gaps
  • Teams unsure of AI
  • Scaling concerns

How we enable you: Help make AI actionable, close IT–leadership gaps, turn data into products

Success stories

  1. 1

    Reduced time and costs by eliminating duplicate coding

  2. 2

    Avoided vendor lock-in

  3. 3

    Improved data quality and accuracy

Insurance

Boosting business analyses with an automated single source of truth

Streamlining_business_analyses_with_an_automated_single_source_of_truth_cover
  1. 1

    Reduced information gathering time from ~20 minutes to ~1 minute per client.

  2. 2

    Freed underwriters to focus on complex tasks

  3. 3

    Automated merging and summarization of data from multiple sources

Insurance

Enhancing underwriting efficiency with LLM integration

Enhancing_underwriting_efficiency_with_LLM_integration_image-min.jpg
  1. 1

    Improved Efficiency

  2. 2

    Enhanced Data Analysis

  3. 3

    Improved Stability and Performance

Insurance

Streamlining sales-trader workflow with a unified application

Streamlining_Sales-Trader_Workflow_with_a_unified_application_cover

Insurance industry outlook

Technologies we use

Every insurer is unique. We help you find the right approach and technology to reach your goals.

Programming languages

python-logo
java-logo
New Kotlin logo for 2024
scala-logo
Typescript-logo

Cloud and data technologies

aws-logo
Azure-logo
Google Cloud Partner Logo
Databricks-logo
Snowflake-logo
MongoDB-logo
Amazon_S3
Hadoop-logo
ElasticSearch-logo
Spark MLlib
Hive-logo
Flink-logo
Kafka-logo
Azure_Machine_Learning
Amazon Machine Learning Logo

Development frameworks and libraries

dbt-logo
strapi-logo
React-logo
NodeJs-logo
Amazon_Bedrock logo

DevOps and tools

Image Alt
Azure DevOps logo
Terraform-logo
Splunk-logo
Grafana-logo
Ansible-logo
Schdules (Airflow, Prefect, Oozie)-logo
Jenkins-logo