Posted by Bangalore: Tokio Marine & Nichido Fire Insurance Co., Ltd (TMNF) has upgraded its Dubai branch to 3i Infotech‘s PREMIA 11 – an end-to-end integrated insurance solution to meet the rapidly growing business.
TMNF needed a comprehensive system with end-to-end integrated solution which could provide quick processing to the customer, avoid manual intervention in day-to-day operations, improve operational efficiency with higher quality, faster time to market, reusability and data storage.
The Dubai branch was dependent on third party system to do any changes on the tariff logic, which was one of the biggest problem faced by the insurer. Beside, the company lacked some of the key business supported software systems such as Document Management System, Business Intelligence technology, Fixed assets & Budget modules and Integrated workflow systems.
However, the software upgrade from PREMIA 9 to PREMIA 11 has helped the company to address key problem areas related to IT systems and business functionalities.
With this software upgrade, the company is experiencing a seamless integration of underwriting claims, reinsurance and finance plus reporting. It is reduces printing costs as the system allows to send documents via email instead of manual paper prints.
In PREMIA 11, the claims module is redesigned to meet the complex business requirements coupled with improved processes and integrated workflow system that reduces overall costs.
“The web-based PREMIA 11 directly supports several of the corporate goals and objectives established by the company’s IT Department and Management. With its real-time and accurate reporting of all client enquiries and administrative metrics, it has helped our business in creating and maintaining an efficient workflow,” said Hiroki Sasai, GM – TMNF Dubai branch.
“We have an intricate business structure, but 3i Infotech was able to grasp the business very quickly due to their experience in the insurance industry,” added Sasai.
“We have developed a marine policy admin which has made TMNF Dubai branch’s complex business into seamless operational model. It has also been integrated with the third-party application for the issuance of certificate. However, the control, validation and tariff logics are derived from the core PREMIA system which has benefited them, from the control and audit perspective,” said Rakesh Doshi, EVP & Business Head – Financial Services & Insurance, 3i Infotech Ltd.