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Reliance Life Insurance : Paperless Office

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PCQ Bureau
New Update

In just two years of operation, Reliance Life Insurance Company (RLIC) has

exceeded 2 million policies and is among the country's fastest growing insurance

firms. However, its technology infrastructure systems were not keeping pace with

its rapid rate of growth.

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There were also a number of manual processes and a lack of visibility into

operations. The absence of automation was impacting productivity and the ability

to book revenue in a timely manner. RLIC needed a solution that could improve

process control, enhance visibility, reduce policy turnaround time, accelerate

the time to market and provide agility to react to changing market conditions.

BPM solution was the answer.

The company had their own IT infrastructure in place, which included standalone

systems; Life Asia, which ran on an AS/400 and was the core business engine.

They also used document management solution and policy tracking system.

However, the company lacked a system to manage the steps involved in

under-writing, which included receiving submission, analyzing data and providing

approvals for policies. With BPM implementation, RLIC has resolved the

underwriting issues. The solution has helped RLIC reduce turnaround time from

almost two weeks to about four hours.

Project

Specs
  • Deployment Location: Pan India
  • Team Size: 6



    Tech Used: Savvion 6.5 SP2, Oracle 10 G — RAC, Websphere Application
    Server 6.0.1.23, Documentum 5.3SP3, Captiva1.0, Websphere Process Server

    6.0
  • Expected life: 10 years

Project

Head

Mohan Chandrasekaran,



CTO

Implementation

Partner

Savvion India

 
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