Apollo Munich wins Celent Insurer Asia 2011 Award

NEW DELHI, INDIA: Apollo Munich Health Insurance Co. Ltd. (AMHI), today announced that it was felicitated with the Celent Model Insurer Asia 2011 award in the Policy Administration System (PAS) category. The award recognizes excellence in technology best practices at insurers in Asia, in various categories.

Apollo Munich implemented Mastek’s ElixirAsia Health within a period of 60 days. The workflow-enabled system supports straight through processing (STP) of the whole health product life cycle with integration to all back end systems, said a press release.

The ElixirAsia Health solution standardized insurance activities for different lines of business providing integrated support for distribution management, underwriting and financial receipting. The system’s customer-centric framework allowed a single-window view of all insurance functions thereby increasing productivity of the business users, the release added.

AMHI wanted to administer multiple health insurance product lines through a single system that could support the entire health insurance business, within the challenging timeline of two months. The ElixirAsia solution enables AMHI to configure new products in 1-2 days with a significant improvement on time to market.

Antony Jacob, chief executive officer, Apollo Munich Health Insurance Company Ltd. said, “It gives me immense pleasure to receive this award. We are committed not only to improve our business efficiency and growth but also enhance the customer experience through systematic development of our systems and processes. To meet the challenge, we needed a solution provider that had the domain knowledge to understand and implement the needs of our industry and work on our vision with immediate effect.”

He added that Mastek helped them to implement the right kind of solution using its industry insights within the stipulated time of two months.