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LTI helped reducing operation cost by 50% for a largest national multiline insurance company

Larsen & Toubro Infotech(LTI)

The largest national multiline insurance had built a repository of Insurance policies (P&C and Life Insurance) on Microfilm and Microfiche in early 90s, as a preservation strategy. They were grappling with issues as this technology became outdated over time:

Risk of losing their only source of data for Insurance policies and corresponding communication, need to improve data availability and speed of claims evaluation

Compliance issues, need of a WORM (write once read many) storage compliant with FINRA regulations, where data should be encrypted when at rest

Total cost for digitization compared to 10-12 years of support left to maintain insurance policies was not very encouraging

Required a low cost, cloud-based, FINRA-compliant document management solution which could provide quick access to stored data

Download complete case study to know how LTIs e-Office solution enabled 50% TCO for a Largest National Multiline Insurance.

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Published:  Feb 18, 2019
Length:  3
Type:  Case Study