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3
March 2006
It is every bread-winner's quest: invest in a
financial instrument that will increase savings
as well as provide safety.
Birla
Sun Life Insurance (BSLI) does precisely that and
more. With a vision to providing its customers with
world-class services, the company has automated
its underwriting process. Insurance proposals are
now automatically processed and policies issued,
in medical as well as non-medical cases. A software
model, AURA, handles all underwriting requirements
to automatically process an insurance proposal and
issue the policy in an efficient and transparent
manner and in the shortest time possible.
AURA
is an innovative and highly automated underwriting
module. With the implementation of AURA, there
is minimal human intervention in the underwriting
process. The module ensures quick turnaround time,
in addition to consistency and accuracy of decision.
Checking the history is also easy since the system
stores records of all the customers.
With
standardised rules and features, AURA is able
to bring forth much more transparency between
the clients and the organisation. This feature
is possible as the system throws up information
based on a score card designed to allocate points
to various aspects of information provided by
the customer. Customers also have the option to
know the basis on which the policy and premium
has been decided for them.
Commitment
to unique solutions
BSLI's constant endeavour has been to find new
ways to improve quality, enhance customer satisfaction,
increase capacity, reduce costs and gain new competitive
advantage. AURA offers an innovative approach
to new business processes by providing robust
and flexible automated underwriting. Not only
does the module eliminate manual processes, AURA's
ability to capture and store all these details
provides BSLI with access to valuable information
about its business. AURA uses industry proven
interfaces to existing systems as well as third
party information vendors. BSLI
goes a long way in helping customers realise their
dreams.
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