Newgen Software Technologies Limited announced that it has been recognized in the “Skoch Order Of Merit-2016” its implementation at Bajaj Allianz and Max Bupa Health Insurance.It hasqualified as India’s Top 100 Projects.The 46th Skoch Summit commemorated the top performing technology users.
The award ceremony was recently held at Constitution Club of India, Rafi Marg, New Delhi.
On this occasion, Mr. Diwakar Nigam, MD & CEO – Newgen Software,said, “We congratulate Bajaj Allianz and Max Bupa Health Insurance on winning the Skoch Order ofMerit. These awards are testimonyof the comprehensive business solutions we offerto our clients which help them deliver thebest-in-class services.”
He added, “Newgen's continuous effort is todevelop innovative technology solutions for its clients and keep them ahead of their competition.”
Leveraging Newgen’s ECM solution, Bajaj Allianz streamlined its New Business Acquisition process and Claim Management process. The solution reduced turn-around-time (TAT) for Claim Processing from 10 days to 1 day and reduced TAT for New Business Acquisition from 4-5 days to 2 days. The solution also facilitated image capture which earlier took 2 to 3 days.
Max Bupa Health Insurance partnered with Newgen to transform multiple processes such as New Business Acquisition Process, Renewals Business, Agency Recruitment, Claims Settlement and Provider Enrolment. The solution facilitatedMax Bupa Health Insurance to reduce its turn-around-time (TAT) for Claim Processing from 25 days to 5 day, fast-tracked STP Policy Issuance in 1 day, increased collaboration across departments such as Policy enrolment, Customer Service etc. and enabled over 90% transactions within the published TAT.
The award aims to encourage and promote the best technology applications across various sectors/domains. A Jury of eminent experts announced winners after considering a large number of nominations and presentations. The selection comprisedthree crucial rounds - submission of application form, discussion with applicants, followed by a presentation to the Expert Jury.
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