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Transforming Insurance Industry through CX and Insurtech

The insurance industry is a vital component of India’s economy, safeguarding both individuals and businesses. As of 2020, the insurance penetration in India stood at 3.76%, lower than the global average of 7.23%. With a competitive market, customer experience (CX) has become a crucial differentiator. Insurtech companies leverage technologies like AI, ML, and IoT to create personalized and seamless experiences for policyholders and collaborate with traditional insurance companies to help them improve their CX.

Revolutionizing Insurance: Embracing Insurtech for Enhanced Customer Experience

The focus on improving CX has fueled significant growth in the Indian insurance industry. Key trends and challenges include:

Role of Technology and Insurtech in Improving CX

By 2025, the Indian insurtech market is expected to reach $20 billion, with a CAGR of 37% from 2019 to 2025. Insurtech companies adopt a customer-centric approach to business, leveraging data and analytics to simplify the customer journey.

Best Practices for Improving CX in the Insurance Industry

  • Implement cost-effective CX initiatives: Leverage chatbots and virtual assistants to provide personalized assistance to customers and invest in omnichannel platforms.
  • Use data-driven insights: Leverage data and analytics to understand customer preferences and offer personalized products and services.
  • Simplify the customer journey: Streamline processes and provide digital tools and resources, such as online claims tracking and virtual support. For example, Mantra Labs, a tech firm, developed a customer app for SBI General Insurance, which allows customers to easily access their policies, submit claims, and receive personalized insurance advice. The app’s intuitive interface and personalized features have resulted in higher customer engagement and satisfaction.
  • Prioritize transparency and trust: Invest in data security and privacy measures to build trust with customers.

Impact of Insurtech Companies on CX

Insurtech companies are reshaping the insurance industry in India, emphasizing customer experience (CX) as a crucial differentiator. To scale up operations and maintain high levels of customer satisfaction, it is essential for insurtech companies to adopt a customer-centric approach. By collaborating with insurance firms, these companies are providing personalized recommendations and offering while leveraging technology to streamline and simplify the customer journey.

Recommendations for Insurers Looking to Improve CX

  • Adopt an agile and iterative approach to development: Break down silos between departments, involve customers in the design process, and use data and analytics to continuously improve the customer journey.
  • Integrate legacy systems with new insurtech solutions: Use APIs and microservices to create a flexible and scalable architecture, or partner with insurtech startups specializing in legacy system integration.
  • Partner with service providers for CX improvement: Engage with experts in customer research, design thinking, and user experience design to create seamless and intuitive customer journeys.

By focusing on customer experience and leveraging insurtech, insurance companies can revolutionize their industry, leading to increased customer satisfaction, loyalty, and differentiation from competitors.

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

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

AspectWhat You Should Know
1. Why Static Reports Fall ShortDelayed insights after issues occur
Disconnected systems (ERP, MES, sensors)
No real-time alerts or embedded decision logic
2. What Real-Time Dashboards EnableTrack OEE and downtime in real-time
Predictive maintenance using sensor data
Dynamic inventory heat maps
Quality linked to operators
3. Dashboards That Drive ActionRole-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 DashboardsUnified 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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