(Sahara Mall, Gurgaon. Photo credit: Siddhartha Shukla.)
Apollo Munich Health Insurance (AMHI; Gurgaon, India), a joint venture of Apollo Hospitals group (Chennai, India) and Munich Health (Munich, a division of Munich Re) has adopted Majesco’s (Morristown, N.J.) DigitalConnect platform with the aim of radically improving policy issuance timeframes and enhancing the company’s insurance distribution by increasing market reach and penetration.
Majesco reports has developed a mobile tablet automated policy issuance application leveraging its DigitalConnect platform. The application enables agents to quickly and dynamically capture customer demographics, scan documents and issue the policy at the point of sale via the mobile tablet, the vendor asserts. The data captured is immediately integrated using straight-through processing with AMHI’s core policy system to approve the policy and provide a payment option to enable the real-time close of sale.
“This game-changing solution using Majesco DigitalConnect with a unique mobile application radically transforms agent and customer expectations and engagement, by significantly reducing the policy issue time to 5-10 minutes for straight-through process cases,” a vendor statement says.
Innovative Digital Solutions
“With the new application, our agents can submit proposals and issue policies in remote parts of the country which may not be easily accessible using innovative digital solutions,” comments Krishnan Ramachandran, Deputy CEO, AMHI. “The Majesco and Apollo Munich teams continue to invest in new and innovative technology.”
Majesco describes DigitalConnect as a single platform for all lines of business, with ready to deploy portal and mobile solutions for customers, agents, alternative distribution channels, and group benefits / employees. It is designed to enable personalization of the portal and mobile solutions based on the unique customer journeys and personas defined by each insurer to fulfill their unique and multi-channel distribution and customer experience needs.
“The shifting industry dynamics put significantly more emphasis on digital solutions as insurers look at improving their distribution channel and customer experience, efficiency, and business processes,” comments Ketan Mehta, CEO and Co-Founder, Majesco. “We are honored to have played a part in AMHI’s business as their strategic partner.”