The Hindu : Business : United India chooses HP to implement insurance solution

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Friday, Nov 23, 2007
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United India chooses HP to implement insurance solution

Staff Correspondent

— PHOTO: BIJOY GHOSH

CORE SOLUTION: G. Srinivasan (right), Chairman and Managing Director, United India Insurance, with Balu Doraisamy, Managing Director, HP India, at a press conference in Chennai on Thursday.

CHENNAI: United India Insurance Company Limited (United India) has tied-up with Hewlett-Packard (HP) to implement a complete turn-key solution for core insurance. The system integration includes supply, customisation, implementation and maintenance of core and other application software, hardware and system software.

Addressing a press conference here on Thursday, G. Srinivasan, Chairman and Managing Director, United India Insurance, said the contract would extend for seven years, at the end of which, the solution would seamlessly be handed over to the United India personnel.

As part of the partnership, HP would put together training programmes for United India.

The package will cost Rs. 100 crore, of which, 70 per cent will be for hardware and the balance for software and maintenance.

Mr. Srinivasan said HP, together with its partner SSP, would implement Sirius 4 Insurance (S4I) centralised core insurance application. The proposed solution supports United India’s business re-engineering objectives. The solution would deliver innovative straight through processing concepts and sophisticated Internet-based delivery channels to capitalise future channels to markets.

It would automate and streamline United India’s whole insurance value-chain-from back-office administration to online claims and business performance reporting.

With the implementation of this core solution, the expenses of the company would come down by 22 per cent, he claimed.

The Managing Director of HP, Balu Doraisamy, said the projects involved implementation of insurance products, creation of an online capability and the definition of effective business practices. HP would implement SAP ERP platform for enterprise-wide financial accounting, G/L and human capital management solution.

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