Another First from Tata AIG General Insurance gets Global recognition at Celent Model Insurer Awards 2011

Tata AIG General Insurance Company Ltd’s (Tata AIG) unique initiative “Faster Claims through efficient use of mobile PDAs” was recently recognized for at the Celent Model Insurer Awards 2011 in New York. Celent Model Insurer Award is a very coveted global award known for recognizing insurance companies for their technology initiatives. These awards are given to those insurance companies across the globe who create significant business value by applying technology to the insurance process. Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent is a member of the Oliver Wyman Group, which is part of NYSE Listed Marsh & McLennan Companies [MMC].

Tata AIG has always attached utmost importance to “Claims Servicing” by undertaking numerous technology and process improvement initiatives in order to ensure an excellent and satisfying claims servicing experience to the customer. Tata AIG was first to provide solutions like 24X7 Toll-free helpline number and SMS based claims notification besides the conventional methods for claims notification.

In its endeavor to improve overall turnaround time to process claims and to also improve the productivity of the claims staff, Tata AIG embarked upon a unique initiative by putting to use personal digital assistants (PDAs), web services and wireless communication. The Company was able to service twice the number of claims, there by reducing the claims processing time.

The key innovation component in this initiative was increasing the mobility of the claims surveyors/adjuster by using a PDA to capture and transmit required data electronically. This eliminated the need for manual interventions to move data from the field collection point to core processing systems. It also eliminated branch visits required in between inspections. The technology also provided the capability to update/view real time claims assessments.

Some benefits reaped by Tata AIG:

The project has also resulted in eco-friendly contributions through reductions in physical paper work used by the claims adjuster, the number of computers used by back end staff at branches and the carbon emissions generated by multiple visits to an office on a daily basis.

Tata AIG General Insurance Company Limited was chosen as a Celent Model Insurer on account of the best practices of Higher Productivity leading to faster claims servicing, infrastructure optimization, and lower claims expenses.

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