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Home > Larsen & Toubro Infotech(LTI) > LTI helped reducing operation cost by 50% for a largest national multiline insurance company
 

LTI helped reducing operation cost by 50% for a largest national multiline insurance company

Case Study Published By: Larsen & Toubro Infotech(LTI)
Larsen & Toubro Infotech(LTI)
Published:  Feb 18, 2019
Type:  Case Study
Length:  3 pages

The largest national multiline insurance had built a repository of Insurance policies (P&C and Life Insurance) on Microfilm and Microfiche in early 90’s, as a preservation strategy. They were grappling with issues as this technology became outdated over time:

• Risk of losing their only source of data for Insurance policies and corresponding communication, need to improve data availability and speed of claims evaluation

• Compliance issues, need of a WORM (write once read many) storage compliant with FINRA regulations, where data should be encrypted when at rest

• Total cost for digitization compared to 10-12 years of support left to maintain insurance policies was not very encouraging

• Required a low cost, cloud-based, FINRA-compliant document management solution which could provide quick access to stored data

Download complete case study to know how LTI’s e-Office solution enabled 50% TCO for a Largest National Multiline Insurance.



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