ITBM ASSIGNMENT: 01

SUBMITTED TO:

Dr. SD Page

SUBMITTED BY
Aumshesh Upparwar,Nitish kumar singh, Nilesh
phulwani

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New India Assurance
Vision
To be the most respected, trusted and preferred Non-life Insurer in the Global markets
we operate.
Mission
To develop General Insurance Business in the best interest of the community.
To provide Financial Security to Individuals, Trade, Commerce & all other segments
of the Society by offering Insurance products & Services of High Quality at
affordable Cost.
Values
Highest priority to Customer needs
High standards of Public Conduct
Transparency in operations

Culture
company’s test and Caring
Initiatives and Innovation
Integrity, Trustworthiness and Reliability

INFORMATION TECHNOLOGY

The year FY 2019-20 has witnessed New India’s transformation into a technology driven
conglomerate, with more than 23% premium coming from online channels, to the tune of ₹
6,076 crore, as against ₹5,367 crore in the previous year with an accretion of 13.21%. The
giant strides made in technology were clearly visible with Agent Portal premium increasing
from ₹ 2,697 crore in the previous year to ₹ 3,508 crore in FY 2019-20. The robust modern
infrastructure in place also facilitated garnering a total Indian premium of ₹ 26,999 crore at a
growth rate of 12.33%, while the Company crossed the much awaited and a glorious
milestone of a global business of ₹ 30,000 crore. Adoption of a robust business continuity
plan allowed us to rely on company’s agile technology during the lockdown to support Work

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from Home, understand customer experience, monitor the availability of services, protection
of company’s assets and, most vital, to ensure business continuity. Company’s focus has
always been to remain absolutely customer friendly and improving company’s services
through technology. Company’s Customer portal and App have enabled company’s
customers to go for online purchase of policies. Customers, now, have multiple options to
lodge claims through mobile app, customer portal or call centre. Facilities like Automatic
Surveyor appointment and Digital survey Report have been rolled out for Motor Own
damage claims in a phased manner. The agent app has been upgraded to the latest technology
stack with enhanced features and user-friendly design. Both agent app and agent portal, now,
includes many more products than before for online issuance of policies. The entire process
of insurance business stands completely digitized as on date. We have taken a giant leap in
the realm of real-time integrations at various levels policy sales and claim servicing.
Company’s various Integrations of B2B, B2C, G2C and Bancassurance have proven to be a
great platform with direct server to server talk between New India and the concerned entity
for premium amount transfer and policy issuance. Real-time web service integration with
TPAs ensures uninterrupted health claims processing and payment to customers. New India
has always been pioneering revolutionary technology trends and acting as a diverse
playground to test such technology and explore their mettle. Company has started its
company’s ney in the zones of RPA (Robotic Process Automation) and eventually, will
graduate to adopt RPA 2.0 and Hyper-automation. The company has been striving ceaselessly
with an undying determination to bring the robot out of the human and thereby define a new
level of productivity. To enable instant information exchange with employees, customers and
other stakeholders, we have created a multichannel communication infra which includes
Cloud based Email, IP Telephony, SMS Gateways and Video Conferencing. In compliance of
Regulator’s guidelines, we have successfully carried out the Planned NDR Drill, when
company’s entire operation was moved to NDR for a week and return seamlessly.

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 PNB METLIFE

Vision
 To be the most respected, trusted and preferred life Insurer in the Indian markets we
operate.

Mission
 To develop Life Insurance Business in the best interest of the community.
 To provide Financial Security to Individuals, Trade, Commerce & all other segments
of the Society by offering Insurance products & Services of High Quality at affordable
Cost.

Values
 Highest priority to Customer needs
 High standards of Public Conduct
 Transparency in operations

Culture
 Courtesy and Caring
 Initiatives and Innovation
 Integrity, Trustworthiness and Reliability

COMPARISON ON THE BASIS OF BUSINESS PARAMETERS

Parameters New India Assurance PNB Met Life

Total Premium 31244 crores 5507 crores

Solvency ratio 2.11 1.89

Claim settlement ratio 95.91% 98%

Market share 19% 2.4%

Growth rate 11.52% 15%

Net worth 15725.81 crores 4700 crores

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Ranking in India 1ST 8TH

Total number of working 17615 10444

employees

COMPARISON ON THE BASIS OF WEBAPPS/SOCIAL MEDIA APPS

TWITTER

Parameters New India Assurance PNB Met Life

Followers 3349 92300
Following 29 308
Tweets

FACEBOOK

Parameters New India Assurance PNB Met Life

Likes 20898 1049623

INSTAGRAM

Parameters New India Assurance PNB Met Life

Followers 59 2744
following 51 11
Post 4 139

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New India Assurance

Used to promote campaign

Posts are not generating much interaction

PNB Met Life

Products are present in almost all posts

Extremely interactive with customers via comments

Seminar notification

Post same pictures across all platforms

Videos for customer awareness

COMPARISON ON THE BASIS OF TECHNICAL PARAMETERS

Parameters New India Assurance PNB Met Life

Analytics and tracking  Google Analytics  Web Trends
 Smarttech
 Google Analytics
Widgets  Google tag Manager  Ensighten
 Font Awesome  Google tag Manager
 Fast Click
Frameworks  ASP.NET  Adobe enterprise
 Oracle Dynamic cloud
Monitoring Service  Java EE
 Global sign Domain  Java servlet
Specification  ASP.NET

JavaScript Libraries and  Moment JS  Fancy-box

Functions  Angular JS  High-chart
 Angular JS
 Crypto JS
 Require JS
SSL Certificates  Global Sign  Digicert SSL
 Entrust SSL  Geo trust SSL
Name Server  Net 4DNS 

Email Hosting Providers  SPF  Cisco Ironport cloud

 Microsoft Azure DNS  Microsoft Azure DNS

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  Office 365 mail  SPF
 Microsoft exchange 
online
Web Servers  IIS  Geo Trust SSL
 Digi Cert SSL
 SSL

COMPARISON ON THE BASIS OF FUNCTIONAL PARAMETERS OF MOBILE

APPS

Parameter New India Assurance PNB Met Life

s

Security The app has no built-in passcode or The app is simply good with 500+k
biometric to open the app or no policy downloads with some average features.
no. required at the beginning.

Memory The memory required for the app on The memory required for the app on
required IOS device is 40.8 MB and on android IOS device is 31.3 MB and on android
devices is 13 MB. devices is 16 MB.

Layout The App design is an easy to navigate The app design is catchy, and the
interface which has large icons internal working of the app is good.
accompanied by headings.

Speed: : The app opens without any lag The The working of the app is very smooth,
app needs internet to operate and the app build is so good.

Reading There is less text, this makes it more There is no mess up of so much
level: convenient to use the app. information things are direct and easy.

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Mobile The app has a one click claim system Mobile Inbuilt feature is available
claim and procedure that makes it very easy where you can go to a particular section
system to get a claim. and claim .

App Any payment for a policy can be made Here also payment methods are given
payment through the app itself within the app.
system

App The design of the app focuses on The design focuses on the policies,
design simplicity and function. claims and your profile section.

Functional The mobile app not only stores policy From issuing a policy, to renewal, to
ity information but can also be used for settlement and sum assured everything
renewals, claims, changing terms and is there in the app.
purchasing new policies

Usability This can be downloaded by both Available on play store for android as
android users and apple users on the well as i-phone users.
google play store and apple store
respectively

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Ratings

New India Assurance PNB Met Life

Facebook Post, likes 6 8
Instagram Post, likes 6 8
Twitter Post, likes 6 8
Analytics and tracking 7 7
Widgets 8 8
Frameworks 7 7
JavaScript Libraries and 9 9
Functions
SSL Certificates 6 6
Name Server 8 8
Email Hosting Providers 7 7
Web Servers 8 8
Security 8 7
Memory required 9 9
Layout 8 9
Speed: 7 8
Reading level: 9 9
Mobile claim system 9 9
App payment system 9 9
App design 8 8
Functionality 8 9
Usability 9 9

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Key Lessons for Insurance Companies

Company’s Customer portal and App have enabled company’s customers to go for online
purchase of policies. Customers, now, have multiple options to lodge claims through mobile
app, customer portal or call centre. Customer also prefer online transactions for purchasing
new policies and also for renewal of policies. For these insurance companies needs to design
interactive apps, customer service and secure payment options. Customers also prefer
paperless documentation so company design interface for online document verifications.

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