Mumbai: Cholamandalam MS General Insurance Company Limited (Chola MS), an insurance joint venture between the $3.03-billion Murugappa Group and Mitsui Sumitomo Insurance of Japan, today said it had launched 'e-Policy' for all its intermediaries, bancassurance partners and customers across its 113 branches, aimeed at improving speed, convenience and offer instant motor policy at the press of a click.
S S Gopalarathnam, managing director, Chola MS, said, ''This has will virtually shrink the policy issuance turnaround time.''
Some of the features of e-Policy initiative are that the intermediary would be able to see the list of all the policies generated online. This is a real time system and can be accessed any-time, any-where with secured password controls. This will help the intermediaries to serve their customers well and enhance the customer life time experience.
Cholamandalam MS General Insurance offers a wide range of products that include accident, engineering, health, liability, marine, motor, property, travel and rural insurance for individuals and corporate houses. The company achieved a gross written premium of Rs785 crore in 2009-10.
The company has 113 branches and over 7500 agents across the country.
Mitsui Sumitomo is part of MS & AD, the largest Insurance Group in Japan, with an ordinary income or net written premium of $21.66 billion in 2009. The Company has 300 offices in 40 countries and regions overseas.