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The present scenario in the insurance industry with respect to customer registration or enrolment, premium calculation and premium collection is grim. All processes require manual filling up of forms that are later scanned with the insured’s photograph. These are then sent to a back office for further processing.
There is a high possibility of mismatch of the data captured and distributed. The system is also not scalable because of the high volume of data processed and time consuming procedures involved.
There following glitches are often encountered in such a system:
* Data loss during transition resulting in rework.
* High cost of infrastructure and manpower required
* Non scalability of the system because of the huge volume of data processed and high time and effort spent
Our solution, based on efficient, scalable and cutting edge technology, eliminates all the drawbacks of the current system. The proposed system will replace the human element to a large extent by increasing efficiency and in-turn reducing the cost, time and errors considerably.
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