India is the largest SME (Small and Medium Enterprise) market in the world contributing to employment generation and overall growth. According to IBEF, the Udyam Registration portal registered 446,980 small and 40,400 mid-sized enterprises as of February 2023. The pandemic turned out to be a major reason behind this immense growth in the SME number as many people who lost jobs during this tough time were forced to start their own businesses in order to survive.

However, insurance penetration in this category has been quite low. Majority of the SMEs are either underinsured or have no insurance at all. When it comes to insurance, navigating the insurance marketplace could be a cumbersome task for SMEs. Nonetheless, insurance is a necessity for businesses, regardless of their size, to protect themselves against unexpected risks. This blog explores the transformative power of digitization in revolutionizing the insurance experience for SMEs in India, bringing efficiency, convenience, and better coverage options.

Here are some common CX challenges they face in this process:

Complex Policy Documentation: Insurance policies typically involve lengthy and complex documentation with technical terms and legal jargon. SMEs may find it challenging to comprehend the policy details, coverage exclusions, and limitations. This complexity can lead to confusion and difficulty in selecting the right coverage and understanding the extent of protection provided.
Limited Coverage Options: Insurance providers may offer limited coverage options tailored specifically for SMEs, especially in niche industries. SMEs may need help finding policies that adequately address their unique risks and requirements.
Lack of Risk Assessment: SMEs may need more expertise or resources to conduct thorough risk assessments and implement effective risk management strategies.
Inefficient Claims Handling: SMEs may face challenges in navigating the claims process efficiently. Delays, complex procedures, and limited communication during the claims settlement phase can negatively impact their operations and cash flow.
Limited Flexibility and Customization: SMEs often require flexible insurance solutions that can adapt to their evolving needs as they grow and change. Insurers that offer rigid policies with limited customization options may not fully address the unique requirements of SMEs, leading to gaps in coverage or unnecessary expenses.

Decoding the Insurance Needs for SMEs:

An exclusive platform for all insurance needs.

In the last few years, many insurance companies in India realized the pain points of SME owners, especially post-Covid -19, and have started focusing more on SME customers.

Mantra Labs worked with APACs leading life insurance firm to develop an exclusive digital insurance platform and transform the experience of SME owners.

Customized Products: Tailored Coverage Options

Digital platforms have enabled insurance providers to offer specialized coverage options specifically designed for the unique needs of SMEs. Whether it’s comprehensive business insurance, professional indemnity, or cyber risk protection, SMEs can now access policies that cater to their industry-specific requirements. This customization ensures that SMEs receive the necessary coverage while optimizing their insurance investments.

Faster claims management:

Leveraging technology, SMEs can now submit claims online, track their progress, and receive quicker settlements. Automation and integration with relevant data sources enable insurers to expedite claims processing, enhancing the overall experience for SMEs.

Empowering Small Businesses

Technology can help in choosing the right personalized insurance for SMEs.

Data Analytics for Risk Management:

Digitization unlocks the potential for robust data analytics, enabling SMEs to gain valuable insights into their risk profile. Insurance providers can leverage data collected from SMEs’ digital interactions to offer personalized risk management solutions. By analyzing historical data and identifying patterns, insurers can proactively help SMEs mitigate risks and prevent losses, ultimately contributing to their long-term success.

Recently, ICICI Lombard partnered with actyv.ai- a Singapore-based SaaS platform to co-create innovative insurance solutions specifically designed for SMEs and their supply chain partners.

Conclusion

Digitizing insurance experience for SMEs is a vital step that insurance companies must take to gain a competitive edge in the market. SMEs are the backbone of any economy and must be adequately protected against unforeseen events that may affect their businesses. As customer experience becomes more critical in the insurance industry, digitizing the customer experience has become a necessity if insurance companies want to attract and retain SME customers.

Smart Manufacturing Dashboards: A Real-Time Guide for Data-Driven Ops

By : Divyanjali Gupta

Published on Jul 31, 2025

Data Science Manufacturing Analytics Smart Manufacturing

Smart Manufacturing starts with real-time visibility.

Manufacturing companies today generate data by the second through sensors, machines, ERP systems, and MES platforms. But without real-time insights, even the most advanced production lines are essentially flying blind.

Manufacturers are implementing real-time dashboards that serve as control towers for their daily operations, enabling them to shift from reactive to proactive decision-making. These tools are essential to the evolution of Smart Manufacturing, where connected systems, automation, and intelligent analytics come together to drive measurable impact.

Data is available, but what’s missing is timely action.

For many plant leaders and COOs, one challenge persists: operational data is dispersed throughout systems, delayed, or hidden in spreadsheets. And this delay turns into a liability.

Real-time dashboards help uncover critical answers:

What caused downtime during last night’s shift?
Was there a delay in maintenance response?
Did a specific inventory threshold trigger a quality issue?

By converting raw inputs into real-time manufacturing analytics, dashboards make operational intelligence accessible to operators, supervisors, and leadership alike, enabling teams to anticipate problems rather than react to them.

1. Why Static Reports Fall Short

Reports often arrive late—after downtime, delays, or defects have occurred.
Disconnected data across ERP, MES, and sensors limits cross-functional insights.
Static formats lack embedded logic for proactive decision support.

2. What Real-Time Dashboards Enable

Line performance and downtime trends
Track OEE in real time and identify underperforming lines.

Predictive maintenance alerts
Utilize historical and sensor data to identify potential part failures in advance.

Inventory heat maps & reorder thresholds
Anticipate stockouts or overstocks based on dynamic reorder points.

Quality metrics linked to operator actions
Isolate shifts or procedures correlated with spikes in defects or rework.

These insights allow production teams to drive day-to-day operations in line with Smart Manufacturing principles.

3. Dashboards That Drive Action

Role-based dashboards
Dashboards can be configured for machine operators, shift supervisors, and plant managers, each with a tailored view of KPIs.

Embedded alerts and nudges
Real-time prompts, like “Line 4 below efficiency threshold for 15+ minutes,” reduce response times and minimize disruptions.

Cross-functional drill-downs
Teams can identify root causes more quickly because users can move from plant-wide overviews to detailed machine-level data in seconds.

4. What Powers These Dashboards

Data lakehouse integration
Unified access to ERP, MES, IoT sensor, and QA systems—ensuring reliable and timely manufacturing analytics.

ETL pipelines
Real-time data ingestion from high-frequency sources with minimal latency.

Visualization tools
Custom builds using Power BI, or customized solutions designed for frontline usability and operational impact.

Smart Manufacturing in Action: Reducing Market Response Time from 48 Hours to 30 Minutes

Mantra Labs partnered with a North American die-casting manufacturer to unify its operational data into a real-time dashboard. Fragmented data, manual reporting, delayed pricing decisions, and inconsistent data quality hindered operational efficiency and strategic decision-making.

Tech Enablement:

Centralized Data Hub with real-time access to critical business insights.
Automated report generation with data ingestion and processing.
Accurate price modeling with real-time visibility into metal price trends, cost impacts, and customer-specific pricing scenarios.
Proactive market analysis with intuitive Power BI dashboards and reports.

Business Outcomes:

Faster response to machine alerts
Quality incidents traced to specific operator workflows
4X faster access to insights led to improved inventory optimization.

As this case shows, real-time dashboards are not just operational tools—they’re strategic enablers.

(Learn More: Powering the Future of Metal Manufacturing with Data Engineering)

Key Takeaways: Smart Manufacturing Dashboards at a Glance

Aspect	What You Should Know
1. Why Static Reports Fall Short	Delayed insights after issues occur Disconnected systems (ERP, MES, sensors) No real-time alerts or embedded decision logic
2. What Real-Time Dashboards Enable	Track OEE and downtime in real-time Predictive maintenance using sensor data Dynamic inventory heat maps Quality linked to operators
3. Dashboards That Drive Action	Role-based views (operator to CEO) Embedded alerts like “Line 4 down for 15+ mins” Drilldowns from plant-level to machine-level
4. What Powers These Dashboards	Unified Data Lakehouse (ERP + IoT + MES) Real-time ETL pipelines Power BI or custom dashboards built for frontline usability

Conclusion

Smart Manufacturing dashboards aren’t just analytics tools—they’re productivity engines. Dashboards that deliver real-time insight empower frontline teams to make faster, better decisions—whether it’s adjusting production schedules, triggering preventive maintenance, or responding to inventory fluctuations.

Explore how Mantra Labs can help you unlock operations intelligence that’s actually usable.

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Digitalizing Insurance Experience for SMEs