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Mantra Labs one of the top InsurTechs in India (2021)

By :
Published on Feb 15, 2021
Innovation in insuranceInsurTech

A positive kick-start to 2021! Mantra Labs has been listed as one of the top Insurtechs in India to look out for. This list compiled by Daily Finance comprises the most innovative tech-startups and established companies transforming the Insurance ecosystem through innovative products and solutions. The standout businesses are recognized for taking a variety of approaches to innovating the InsurTech industry. They are selected by a panel of analysts and industry stalwarts basis the following criteria- 

  • Innovation
    • Innovative ideas
    • The innovative route to market
    • Innovative product
  • Growth
    • Exceptional growth
    • Exceptional growth strategy
  • Management
  • Societal impact

According to Grand View Research, “The global insurtech market size was valued at USD 2.72 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 48.8% from 2021 to 2028.” COVID-19 has pushed all claims organizations alike into the touchless reality of today. Digital is no longer the difference-maker; personalization is. Greater customer expectations, followed by cost optimization, is the main driver behind the insurer evolution process. To meet these critical changes, Insurers are turning to AI to drive the Interactions of Tomorrow. By 2024, AI will bring $2.3 billion in cost savings across the entire Insurance ecosystem, up from $340 million in 2020. 

Here’s the Mantra’s latest PoV highlighting the New Next for AI in Insurance in 2021

How Mantra Labs is transforming the Insurance Landscape

Handpicked among the top 100 most innovative Insurtechs in the World, Mantra Labs has worked with leading insurance carriers within APAC helping them build World-class customer experiences and improve operational efficiencies. Through its problem-solving approach, Mantra deep-dives into the client’s business process and nails down their unique challenges.

During the initial stages of lockdown, Care Health Insurance (formerly Religare) joined forces with Mantra to implement contactless customer centers in quick turnaround time, ensuring business continuity despite work-from-home-only restrictions for their support teams. Mantra has also built its ‘Self-Help’ app—which is India’s highest-rated health insurance app—that has simplified the digital insurance journey for its customers who look to book health check-ups, discover partner hospitals, download health reports and avail QR code-enabled cashless OPD services. 

The Highest Rated Health Insurance App in India – The story behind it

SBI General Insurance, a leading non-life Insurer in India, sought out a full-service mobility solution to improve insurance accessibility pan-India, specifically catered for mobile-centric policyholders. Mantra utilized its deep insurance industry know-how to deliver a hybrid mobile application and helped define unique strategies for building customer engagement.

Customer Experience Design & Engagement Strategies for Insurer Mobile App

Mantra offers three core products for solving the most pressing challenges faced by InsurTechs around — claims processing, workflow management, process automation, onboarding, leads maximization, customer experience & engagement. Mantra Labs’ solution offerings for the Insurance industry include –

FlowMagic

FlowMagic is a visual AI platform for handling Insurer workflows. With FlowMagic insurers can create, customize and monitor workflows built to scale across the Insurance value chain. It comprises AI-powered applications that can be strung together with unique plug and play functionality to execute any business-specific process.

Lead Conversion Accelerator (LCA)

LCA is an AI-enabled tool that allows Insurers to maximize capture from the sales funnel for AI-based lead allocation, prioritization, and conversion.

Hitee

Hitee is a Multilingual AI-Powered Video chatbot for customer support teams that allows Insurers to fulfill routine and non-routine service tasks via Natural Language Processing (NLP) and Machine Learning (ML) models trained in insurance-specific parlance.

“At Mantra Labs, we believe in creating Intelligent Experiences by leveraging technology and design to solve real-world consumer problems that allow our clients to adapt, scale and grow quickly,” says Mikhail Mitra, Co-founder & Chief Product Officer, Mantra Labs. “We are proud to be recognised as a leader in this space.”

About Mantra Labs

Mantra Labs is a global technology development company that builds & designs World-class customer-first products through experience strategy consulting, deep tech & engineering services for evolving enterprises.

With a team of 200+ technology tinkerers and experimenters, Mantra Labs is building the Future of Intelligent Experiences for consumer enterprise giants like Ola, Myntra, Quikr & Alkem. Mantra Labs also solves the most pressing front & back-office challenges for leading enterprises in Insurance, Manufacturing, and Healthcare sectors like Manipal Hospitals, Suraksha Diagnostics, Alkem Pharmaceuticals, SBI General, Care Health, DCM Shriram, Globalise Inc, AIA Hong Kong & Pramerica among others.

The article can be found here: https://df.media/these-are-the-top-insurtech-companies-in-india-2021/ 

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Bringing Interfaces to Life: The role of animation in UI and UX

By :
Published on Apr 30, 2024
Updated on May 1, 2024
AnimationUI/UX Design

Interfaces are everywhere. The user experience encompasses the overall experience a user has while interacting with a product or service. Animation, in the context of UI and UX design, involves adding motion to these visual elements to create a more engaging and intuitive user experience. Animation may serve a functional purpose by guiding users or providing feedback.

Think of motion as a design tool in your UX journey. It should help achieve the user’s goals or contribute in some way to enhance the experience. Animation shouldn’t be distracting or excessive. In other words, if it gets in the way of the user accomplishing a task or takes up more seconds for what should be a quick task, then it becomes unnecessary and annoying.

One common example of animation in UI design is the loading spinner. Instead of staring at a static screen while waiting for a page to load, a spinning animation lets users know that something is happening in the background. This simple animation helps manage user expectations and reduces frustration.

Introducing animations to the interface serves a psychological purpose as well. One aspect involves ensuring users remain informed throughout their interaction, minimizing ambiguity. Uncertainty can lead to user anxiety; for instance, if a page is loading without any interface feedback, incorporating a micro animation can be beneficial in providing reassurance. Although not all problems may need animations, adding them increases their appeal.

In recent years, several applications have pushed the boundaries of animation in UI and UX design. One notable example is the Duolingo app, which uses playful animations and interactive elements to make language learning fun and engaging. Interactive animations can gamify the user experience, making mundane tasks more engaging and Duolingo has used this to its advantage. Another example is the Headspace app, which employs calming animations and transitions to create a serene user experience. 

Let’s look at Duolingo’s application which embraces animation to engage the user’s attention. It keeps users hooked and gives them the comfort of gamification. This not only makes the information more visually appealing but also helps users quickly understand the current stage. It keeps the user hooked throughout the level with its cute animations.

Credits: Kim Lyons 

Duo Lingo
Image Source

Additionally, captivating animations can also serve to promote and enhance the appeal of your product. 

Micro-animations extend beyond just the gamification of applications; they can also be leveraged to enrich the aesthetics and express the essence of your product. They contribute to making your website feel more alive and interactive, elevating the overall user experience.

UI/UX

In essence, animation in UI and UX design is not merely about adding visual flair, it’s about creating meaningful interactions that enhance user engagement and satisfaction. From improving usability to expressing brand identity and personality, animation has the potential to transform digital interfaces into dynamic and memorable experiences. Whether it’s guiding users through a process or providing feedback animation, it has the power to elevate the overall user experience. Next time you witness animation appreciate the magic that brings it to life, you might just be amazed by its impact.

About the Author: 

Shivani Shukla is a Senior UI & UX designer at Mantra Labs. It’s been a while since she started her journey as a designer. Updating her knowledge and staying up to date with the current trends has always been her priority.

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