HP to implement core insurance soln for United India

BANGALORE, INDIA: United India Insurance Company Limited (United India) announced that it has selected Hewlett-Packard (HP) to implement a complete turnkey solution for Core Insurance. The scope of the system integration includes supply, customization, implementation and maintenance of core and other application software, hardware and system software.

The contract would extend for seven years, at the end of which the solution would seamlessly be handed over to United India personnel. As part of the partnership, HP would also put together training programs for United India.

HP together with its partner SSP will implement Sirius 4 Insurance (S4I) centralized core insurance application.

The proposed solution supports United India's business re-engineering objectives. The solution delivers innovative straight through processing concepts and sophisticated internet-based delivery channels to capitalize future channels to markets. It will automate and streamline United India's whole insurance value-chain - from back-office administration to online claims and business performance reporting.

The project involves implementation of insurance products, the creation of an online capability and the definition of effective business practices. HP will implement SAP ERP platform for enterprise wide Financial Accounting, G/L and Human Capital Management solution.

The complete implementation is based on the latest Microsoft technology on SQL servers and .NET framework. Even with the explosive growth being faced by the country in the general insurance space, only a miniscule portion of the country's vast insurance potential is being tapped as of today. The insurance industry is also increasingly compelled to consider the customer's perspective while addressing the requirement of comprehensive coverage.

G. Srinivasan, CMD, United India, said: "An innovative approach that addresses the risk-peril combination in the most effective fashion is the need of the hour for the insurance industry. The core insurance solution implemented by HP helps us provide flexible, scalable solutions to our customers while growing our operational efficiency and helping us attain short and long-term business objectives."

"It is HP's privilege to be selected by United India, one of the best known names in general insurance, for the implementation of its core insurance solution," said Balu Doraisamy, managing director, HP India. "This partnership is further endorsement of HP's proven success in implementing core projects and IT transformation solutions for leading banks and financial institutions in India, helping them leverage IT for best business outcomes."