aipeu puri

aipeu puri

Thursday 10 September 2015

About McCamish application to manage PLI/RPLI business


        India Post is implementing the McCamish application to manage its Insurance business.
        It includes Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI)
        It lists all the roles at India Post related to their Life Insurance.
        It describes high level workflow at PO, CPC and the Director’s Office.
        Post implementation of the application, users will be exposed to new processes and procedures for performing their day-to-day activities 

India Post  Program Goals 

The India Post program aims to achieve the following:  

        Wider reach to the Indian population through more customer interaction channels 
        Better customer service 
        Growth through new lines of business 
        IT enablement of business processes and support functions  

PLI and RPLI as a part of FSI  

Financial Services Integration (FSI) is an important part of the India Post program and includes following elements:
-        Banking - The Core Banking System (CBS) is integrated with the help of the Finacle platform. 
-        Insurance - The PLI and RPLI services are integrated with the help of the McCamish application 

Features of the Application 

-        Product Setup
-        Lead Management & Agent Portal
-        Medical Underwriting & Reinsurance System
-        Availability of insurance application on Customer Portal, RICT, Mobile
-        Cash, Cheque, Credit/Debit Card, Electronic Fund Transfer (EFT) as mode of premium payment
-        Effective Agency Management through Goal Setting & monitoring of agents
-        Customized Report Generation
-        Alerts generation through system for various transactions
-        Integration with Enterprise Content Management System (ECMS) for scanning and storage of documents as soft copies 

Benefits of the Application 

-        Friendlier Application Interface
-        Better Customer Service
-        Higher Operational Efficiency
-        Greater Regulatory Compliance
-        Easier Agent Management
-        Faster Decision Making

Life Insurance Policy Life Cycle 

-        Setup (Product, Agents, Doctors)
-        Campaigns & Generating Prospects
-        Insurance Distribution
-        Proposal entry
-        Initial Premium
-        Medical Underwriting
-        Reinsurance
-        Issuing Policy
-        Renewal Premium
-        Financial (Loans, Surrender, Top-up)
-        Non-Financial (Address & Nomination Change)
-        Claims (Death, Maturity and Survival)
-        Payments/Refund/Recoveries
-        Accounts
-        Reports