Implementation of Auto Insurance Application
Binary Semantics has developed an auto insurance application for Japanese car manufacturer; One of the leading manufacturers of premium cars in India. They entered Indian market by forming a joint venture in 1995 & the production began in 1997. The company has state of art manufacturing unit in North India and has a manufacturing capacity of over 100,000 units per year. This company is also into the business of Sale and Purchase of pre-owned cars.
To provide one stop solution & enhance customer ownership experience, the client decided to offer car insurance
products and associated services to its valuable customers through its widespread dealer network as a strategic
initiative. The client wanted a centeralised web based Insurance solution which can fit seamlessly with their business model and provide services to car owner by oering instant Insurance Policy, Cash less and hassle free insurance claim settlement without going to the Insurance provider’s office for any formalities and other processes.
Insurance was a new line of business for the client, which required business process integration with various business stakeholders/ business partners like Insurance Companies, Dealers etc and at the same time, meet the statutory requirement of Insurance Regulatory and Development Authority. The initial challenge was to chalk out uniform business strategy across Insurance Companies so that the vehicle owners get uniform pricing and similar service from all insurance providers across the country. It also involved the selecting the best IT solution which could match their business requirement and is scalable to future business growth needs.
From IT stand point the challenge was not only to cater the needs of the client but also to help the partners in generating revenue from the business model by building features that enable them to manage and control the business at ease. The solution should be user friendly and easy to use so that even a new user can become productive quickly with nil or minimal training.