Tata AIG General Insurance Company Ltd. was recognized for its best practices of faster claims servicing through application of mobile technology. The company received the prestigious Celent Model Insurer Award 2011 in New York.
Celent is a research and consulting firm. They focus on the application of information technology in the global financial services industry. It is a member of the Oliver Wyman Group and is known for recognizing companies across continents that apply technology to enhance business value.
Tata AIG Insurance consistently works towards faster claims processing and has applied technological and process improvement initiatives to offer excellent and satisfying claims servicing experience to its policyholders. It was the first company to provide round the clock toll-free helpline number and SMS facility for notification of claims. By using wireless communication, web services and personal digital assistants (PDAs), the company has improved the overall turnaround time and productivity of claims process.
These initiatives also resulted in eco-friendly contributions through reduced paper work, number of computers used by back-end staff at branches. All this was achieved by the use of PDAs to capture and transmit data electronically. This also lowered the number of visits made by the claims surveyor to an office on a daily basis thereby reducing the carbon emissions.
The company achieved a 20 to 25 per cent increase in productivity of the claims adjuster as the average handling capability increased from 3 to 6 per day.