RIA is developing a cloud-native InsurTech platform that utilizes microservices architecture to automate insurance workflows through a low-code configurator and a library of 200,000 pre-built medical rules. This technology enhances operational efficiency for health and life insurance companies by streamlining underwriting, claims management, and customer experience processes.
Funding
Funding not disclosed
Founders
Product
Problem
Health and life insurance companies face operational inefficiencies due to manual processes in underwriting, claims management, and customer experience workflows. Integrating diverse systems and applying complex medical rules further complicates automation efforts.
Solution
RIA's Symphony platform offers a cloud-native InsurTech solution designed to automate insurance workflows through a low-code configurator and a library of pre-built medical rules. The platform leverages a microservices architecture to streamline processes, enabling faster deployment and greater flexibility. By providing configurable frontends, pre-built insurance tasks, and integration capabilities, Symphony enhances operational efficiency and improves customer experience for health and life insurance companies.
Target Audience
The primary customers are health and life insurance companies and intermediaries seeking to automate and streamline their insurance workflows.
Features
- Low-code workflow configurator with drag-and-drop capability for rapid automation
- Library of 200,000 pre-built medical rules based on globally accepted standards like ICD10 and LOINC
- Predefined insurance tasks and process steps for efficient activity creation
- Medically coded data models to improve and fast-track operations
- Modular building blocks for creating configurable frontends and dashboards
- API-based integration with existing front-end (e.g., email tools, CXM) and back-end systems (e.g., PAS, CRM, CDP)
- Out-of-the-box use cases for distribution, underwriting, post-issue servicing, claims management, value-based care management, and customer experience