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Liverpool Victoria chooses 3i Infotech general insurance solution

October 1, 2006
Liverpool Victoria chooses 3i Infotech general insurance solution. Check it out:
(InsuranceNewslink.com Via Thomson Dialog NewsEdge) John O'Roarke, managing director designate of Liverpool Victoria's general insurance business, and founder of ABC Insurance Solutions Ltd, has confirmed that 3i Infotech's PREMIA general insurance solution has been selected as the platform for automation of its general insurance business.



3i Infotech's PREMIA General Insurance system provides a single solution fully supporting multi-line businesses with unified distribution across multiple channels including direct, internet and broker. With its configurable product, rating and workflow engines, PREMIA is targeted to provide insurers with the opportunity to significantly improve their performance in today's digital market while establishing consistent controls over all channels of distribution.

PREMIA is installed at over 100 sites worldwide, including AIG, Tokio Marine, Prudential, Hallmark Insurance, and Oriental Insurance.

On signing contracts, O'Roarke said "We have evaluated over 50 general insurance systems and come to the conclusion that PREMIA best supports the vision and business model we wish to pursue in becoming a top-five general insurer within five years.

As an all channel, all products general insurance company, we aim to offer more competitive pricing and improved customer service to personal customers and SMEs. Innovative products, speed to market and highly automated business processes will be the keys to our success.

We are therefore delighted to be working with 3i Infotech to implement their state-of-the art solution, PREMIA, on which our business will be built."

Kalpesh Desai, Chief Operating Officer (Europe, Middle East & Africa) at 3i Infotech commented "The challenge for high growth oriented insurers today is to optimise the new distribution channels available in the digital world while ensuring that the back-office is as efficient, agile and responsive as possible to changes in the market. PREMIA has been built from the ground up with the internet and on-line collaboration embedded in its architecture.

We are delighted that John and his team have chosen to become the first UK insurer to embrace PREMIA in a market , which we believe has a significant demand for a new technology integrated solution like PREMIA. Such systems need to bring together the ever evolving distribution chains with the required transaction processing, in a manner that can be virtually extended to back office processing, in a geography-agnostic model, which PREMIA does admirably.

Today the UK insurers require a truly enterprise class solution that addresses the entire insurance value chain and the choice of Premia by John and his team vindicates Premia's fit to the UK insurance marketplace."

This article is supplied by Insurance Newslink (www.insurancenewslink.com).

Copyright 2006 Shillito Market Intelligence


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