Express Computer
Home  »  Document Management  »  Tata AIG’s digital quote management system proves to be extremely successful in SME space

Tata AIG’s digital quote management system proves to be extremely successful in SME space

0 1,264

Tata AIG General Insurance Company Limited deployed its innovative digital quote management solution ‘QMS’ for its field force to offer real-time quotes and instant, over-the-counter, full-fledged package policies in ‘zero’ waiting time to its clientele of small and medium enterprises.

Instant, over-the-counter full-fledged package policies are a first in Commercial business segment, and with QMS Tata AIG has recorded its footprint of charting a new course in redefining customer journey experience through smarter, faster and efficient deliveries. Armed with pre-underwritten approval limits, special cases’ approval workflow and instant over-the-counter policy issuance capabilities, ‘QMS’ is a technology innovation used for streamlining the end-to-end Quote-to-Policy process life cycle for channel partners, producers and field force to offer quick quotes and instant policies anytime, anywhere. Currently, it is being used for Marine Open Policy, Fire package policies and Workmen Compensation products.

Since its deployment almost 8 months back, the real-time quoting tool has until now successfully on-boarded 13,500+ users, generated 2.1 lakh+ quotes and issued approx.1.5 lakh policies, overall.

The tool is being hailed as one of the top innovations in the BFSI space, adding to Tata AIG’s list of many industry firsts.

Commenting on the solution,  Sushant Sarin, Executive Vice President & Head – Commercial Lines & Reinsurance, Tata AIG General Insurance said, “QMS is a unique, convenient tool engineered to empower our channel partners and producers with smarter, faster and efficient processes to offer over-the-counter policies instantly in ‘zero’ waiting time. With more than 80 per cent of cases currently managed through this platform, we have considerably enhanced our operational efficiencies, productivity and manpower savings by cutting down manual interventions and backend operations towards policy issuance processes. This industry-first solution is already winning accolades for its ease of use, transparency and efficiency, and we plan to scale it up further to the next level of ground-breaking innovations in General Insurance space.”

On company’s digital overhaul of systems and business processes,  Dipak Nair, Chief Technology Officer – Tata AIG General Insurance said, “This is a key component in our digital transformation journey and as a part of our scalable and qualitative digital strategy across the distribution value chain, we are well positioned to future-ready the technology backbone of the organization. We have been successful in phasing out legacy systems and modernizing our core capabilities and platforms to offer more robust, integrated and innovative risk solutions and seamless interactions for our channel partners and customers alike.”

 

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 

Stay updated with News, Trending Stories & Conferences with Express Computer
Follow us on Linkedin
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image