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National Insurance Company Limited: GENISYS (General Insurance System)

National Insurance Company Limited implemented CMC's GENISYS system to computerize its over 934 branches across India. GENISYS provides an integrated platform for insurance functions like underwriting 200+ products, online policy issuance, claims processing, and data analytics. The implementation addressed NIC's need for scalability, efficiency, and a technological edge over competitors. GENISYS supports all business lines including motor, fire, marine, personal accident and more.

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Kumar Abhinav
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73 views

National Insurance Company Limited: GENISYS (General Insurance System)

National Insurance Company Limited implemented CMC's GENISYS system to computerize its over 934 branches across India. GENISYS provides an integrated platform for insurance functions like underwriting 200+ products, online policy issuance, claims processing, and data analytics. The implementation addressed NIC's need for scalability, efficiency, and a technological edge over competitors. GENISYS supports all business lines including motor, fire, marine, personal accident and more.

Uploaded by

Kumar Abhinav
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Case Study

National Insurance Company Limited GENISYS (General Insurance System)


Using the state-of-the-art product of CMC GENISYS, National Insurance Company, a leading public sector player in the field of non-life insurance is meeting the challenges faced by todays general insurance sector. It has not only satisfied the customers by providing a hassle free, efficient and improved services but also given NIC the kind of technological edge they required to face the competitive world. Business Profile
National Insurance Company Ltd (NIC) (NIC), established over 30 years ago, is a Public Sector insurance company having its Corporate Office in Chennai. It has more than 934 branch offices spread over all the states of India, controlled by 24 Regional Offices located at all major cities like Chennai, Delhi, Mumbai, Kolkata, Hyderabad, Pune, Nagpur etc. Insurance sector having the following major class of business with over 200 products: Motor Fire Marine Engineering Personal Accident Miscellaneous core product dates back to as early as 2001. The product suite has evolved over time and matured with enhancement in functionality and technology. GENISYS Enterprise is CMCs in-house ETL data ware housing tool using which the transactional data is extracted from the operating offices and then the data is consolidated in the Regional Offices and Head office for all the above three Public Sector Companies. It addresses all the requirements of Operating Office Data Exchange, Data Integration with Lateral and Higher Offices, Enterprise wide Data Consolidation, Business Intelligence and Multi Dimensional Data Analysis. It has also the Web Component that is known as GENISYS Web Enterprise having features like e-covernote, e-claims etc. Technology OS: Windows 2000/RHEL 5 Database: Oracle 9i/Oracle 8i Application Server: Oracle 10g AS Forms: Oracle Forms 6i/4.5i Reports: Oracle Discoverer, Oracle Reports 2.5 than 934 operating offices, 24 Regional Offices and a Corporate Office located at Chennai. NIC has a total premium turnover of approximately INR 4277 Crores during the year 2008-09. National Insurance has also endeavored to improve its market penetration by taking CMCs assistance in augmenting GENISYS one-man office, micro office in remote locations. CMC has successfully implemented GENISYS in all the 934 locations in quick span of time. GENISYS provides a truly integrated enterprise-wide platform for delivering the dynamic and challenging business requirements of this e-age. As of today over 934 branches are computerized and connected to a Regional Office server, processing over 250,000 transactions per day.

Geography India Deployment Summary Computerisation of over 934 branches Providing services to more than 10 million customers per annum Handling over 14 million policies per annum Total services provided by CMC, which includes deployment and customization of GENISYS, System Integration, providing technical specification for Hardware, Training and Data Migration, Technical support etc. Operational from 2001 CMC Insurance Applications GENISYS suite of products is a solution to the business requirements of the insurance industry with customized business rules, tariffs and procedures. The product suite is the outcome of CMCs long-standing relationship, indepth understanding and significant insights into the working of the Insurance industry. The first implementation of the

Strengths Interface possible at central level for various delivery channels All branches although geographically spread out, yet connected to the central server at their respective regional offices. Introduction of products and services online and real-time, based on market requirements, enables NIC to have a cutting edge over its competitors Gives the NICs position at a glance - Managements delight Strengthens NICs market position through innovations using new delivery channels Centralize version control

Challenges for NIC NIC had carried out its operations in a mixed mode few of the operating offices were fully computerised, some were partially computerised and the rest were operating manually. The rapid growth of the business has put tremendous pressure on the existing system and pushed it to its maximum limits. At that juncture NIC started to look for an appropriate solution to match the growing pace of the transactions. After an extensive review of the existing products, NIC chose CMC for the total solution of its insurance business. GENISYS, one of the products developed by CMC was made available to NIC. It was further customized to suit the NICs requirements with specific reference to legal and statutory needs. Furthermore CMCs ability to provide a fully integrated system came handy for NIC to create a computerised system and meet the present and future challenges. NIC Selected GENISYS to Meet the Business Challenges GENISYS is a highly secure, extensively parameterised, multi-user system that provides rich insurance functionality. The

National Insurance Company is in the non-life sector and concentrating on general insurance products. It has more

Case Study
system has a fully integrated and highly flexible general ledger. The system can be interfaced to a multitude of new-age delivery channels such as Remote Terminals, e-cheques and other delivery and payment systems. The open framework provides immense scalability and allows easy integration to external systems. Services Provided Implementation during Session and Transaction Log Data Archival Facilities Security at all levels Single Window Operation Audit Trail at all levels Interface possible at central level for various delivery mechanisms like Web enabled Policies, Web enabled queries etc. More than 1000 MIS reports Reinsurance Returns Easy introduction of new products / services at the Operating Office level Data warehousing support Facility for processing claims from Maruti through web CMCs Centralized Claim successfully running in ROs o o o o o o o o Hub, is Benefits to Insurance Customers Top-of-the-line customer service Quick Claim Settlement Web based claims settlement o o o Upload of same XML feed to GIC in a regular basis Upload of GIC rejected data into Motor Pool system Simulation and Rectification of the rejected data and Uploading the rectified data to GIC Maintaining tracker for sending status from Operating Office to HO and GIC XML data Upload Enhancement and Customization of Motor Pool Software as per GIC / Insurance Company requirements.

High degree of System Integration was done, involving Application Software, Operating System & Layered Software Products. CMC provided the complete support to NIC in this regard such as: Supply, Customization, Installation, Commissioning, Hand Holding and Warranty for GENISYS Application Software. Sizing of hardware Project Management and System Integration for Application Software, Operations System & Layered Software Products and Hardware On site Handholding support for a reasonable period of time Post implementation support Technical Support Service Software Maintenance Training to Users, Administrator etc. Benefits Provided by GENISYS Underwriting of more than 200 products Anywhere anytime facility for issuing motor, marine and OMP policy through web. Automatic Premium Computation On time Renewal Notice with indicative premium Surveyor appointment Claim settlement API for interfacing with other applications Changes through parameters Backup/Recovery Utilities

Claim intimation Surveyor Appointment Surveyor report submission Claim settlement Claim settlement approval Claim disbursement Surveyor payment release Surveyor fees disbursement.

Benefits to Broker / Agents Prompt posting of commission / brokerage Quick access to information Immediate Policy issuance Quick Claim Settlement Benefits to the Users Easy handling and availability of timely and relevant data Benefits for Management Team Ready availability of information: o Operating results o Premium income o Claims paid o Claims outstanding o Intermediary wise business analysis o Statutory Reports, e.g., IRDA, TAC reports

Beside the above software functionalities, the Claim Hub also covers the following features: o o o Daily Monitoring of RO Claim Activities Generation of RO Claim MIS Continuous enhancement and improvement in RO Claim software

Since April 2007 CMC is providing feed to GIC regarding Motor TP Pool . CMC is carrying out the following activities for sending the policy feed to Motor TP Pool o Automatic Retrieval of Motor TP Data from Operating office and transmission to the HO Central repository o Generation of XML feed as per GIC format from HO Central Repository

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