Newgen Software, in Partnership with HP, to Automate Centralized Processing at United India Insurance
United India Insurance Company Ltd., the leading General Insurer in India, has geared up for de-tariffing regulations by choosing Newgen to automate its system for centralized processing of policy applications and claims.
Till now, the company issues policies and settles claims at the branch level itself using a legacy branch automation system. The system, however, caters only to individual branches and is not capable of consolidating data across all branches. With the growing volume of insurance policies, the company saw a clear need for centralized processing. Also, in view of the new detariff regime, the company wanted to fully gear up for competition, counter increased price pressures and provide innovative products and services. Going Forward, it recognized the need for a fully automated, centralized solution that would not only help cut down on processing costs but also provide enough flexibility and adaptability to changing market dynamics. In addition, it also wanted to optimize process and people capabilities across the board.
The Newgen solution will be integrated with the core insurance application, where all the core activities like premium calculation would be performed. The Newgen solution comprises OmniFlowTM, OmniDocsTM, OmniScanTM and other products. Insurance applications and documents are scanned and introduced into OmniFlowTM workflow, and stored in the OmniDocsTM repository once the processing is over.
The solution is expected to provide UIIC with consolidated data from its branches across India, instant anytime-anywhere access to documents, reduced costs and flexibility in introducing new products in a short duration. Also, the instant availability of information enables surveyors and agents to quickly make informed decisions at the time of claims.
The solutions will cover 1300 offices in India including the Regional, Divisional & Branch offices. During the first phase of implementation, the implementation would cover Motor, Medical and Household lines of business. Subsequently, the solution would be rolled out for other lines of business.
United India Insurance Company Limited (UIIC) is a leading General Insurance Company in India. The company has more than three decades of experience in non-life Insurance business. Headquartered in Chennai, the company was formed by merging 22 companies, consequent to nationalisation of General Insurance in 1972.
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