Page 46 - Insurance Times March 2019

Administrator (hereinafter referred as the ‘Medi Assist TPA’). license no. 12 which shall expire on 20-03-2020.

iii) Medicare TPA and Medi Assist TPA submitted letters NOW THEREFORE, pursuant to the request made by
dated 11th July 2018 and 05th July 2018 respectively Medicare TPA about surrender of TPA CoR no. 12, the
to the Authority, concluding the sale of TPA business Authority hereby cancels the Third Party Administrator
with 29th June 2018 as effective date for transfer of Certificate of Registration No. 12 granted to M/s. Medicare
business. Insurance TPA Services (I) Pvt. Ltd.

iv) Subsequently, Medicare TPA vide letter dated 28th This has the approval of the Competent Authority.
December 2018 communicated to the Authority that
their Board has resolved to surrender TPA license no. General Manager (Health)
12 dated 21-03-2017 and has submitted original TPA

MEDIA RELEASE

TATA AIG DEPLOYS INNOVATIVE DIGITAL QUOTE MANAGEMENT SYS-
TEM 'QMS' FOR SMALL & MEDIUM ENTERPRISES

Tata AIG General Insurance Company Limited, India's lead- time. With more than 80 per cent of cases currently man-
ing private sector general insurance company deployed its aged through this platform, we have considerably enhanced
innovative digital quote management solution 'QMS' for its our operational efficiencies, productivity and manpower
field force to offer real-time quotes and instant, over-the- savings by cutting down manual interventions and backend
counter, full-fledged package policies in 'zero' waiting time operations towards policy issuance processes. This indus-
to its clientele of small and medium enterprises. try-first solution is already winning accolades for its ease
Instant, over-the-counter full-fledged package policies are of use, transparency and efficiency, and we plan to scale it
up further to the next level of ground-breaking innovations
a first in Commercial business segment, and with QMS Tata
in General Insurance space."
AIG has recorded its footprint of charting a new course in
redefining customer journey experience through smarter, Oncompany's digital overhaul of systems and business pro-
faster and efficient deliveries. Armed with pre-underwrit- cesses, Mr. Dipak Nair, Chief Technology Officer - Tata AIG
ten approval limits, special cases' approval workflow and General Insurance said,"This is a key component in our
instant over-the-counter policy issuance capabilities, 'QMS' digital transformation journey and as a part of our scalable
is a technology innovation used for streamlining the end- and qualitative digital strategy across the distribution value
to-end Quote-to-Policy process life cycle for channel part- chain, we are well positioned to future-ready the technol-
ners, producers and field force to offer quick quotes and ogy backbone of the organization. We have been success-
instant policies anytime, anywhere. Currently, it is being ful in phasing out legacy systems and modernizing our core
used for Marine Open Policy, Fire package policies and capabilities and platforms to offer more robust, integrated
Workmen Compensation products. and innovative risk solutions and seamless interactions for
our channel partners and customers alike."
Since its deployment almost 8 months back, the real-time
quoting tool has until now successfully on-boarded 13,500+ Innovative Features of TATA AIG's Quote Management Sys-
users, generated 2.1 lakh+ quotes and issued approx.1.5 tem - 'QMS'
lakh policies, overall.  End to end digital quotation engine with pre-approved
limits (Field force empowerment)
The tool is being hailed as one of the top innovations in
the BFSI space, adding to Tata AIG's list of many industry  Special cases' approval workflow, underwriter approval
firsts. workflow (cutting down manual lead time to enable
faster decision making)
Commenting on the solution, Mr. Sushant Sarin, Executive
 Instant over-the-counter policy issuance (Customer
Vice President & Head - Commercial Lines & Reinsurance,
delight - Real time quote generation with 'zero' wait-
Tata AIG General Insurance said, "QMS is a unique, conve-
ing time and instant processing)
nient tool engineered to empower our channel partners
and producers with smarter, faster and efficient processes  Safe and convenient payment facility
to offer over-the-counter policies instantly in 'zero' waiting  Readily available document repository and much more

46 The Insurance Times, March 2019