Max Bupa partners with Mastek to become the first health insurer to offer instant policy issuance to its Bank Partners
· Gives Max Bupa’s Bank Partners a digital edge by enabling e-proposal submission, Over the Counter, through Tablets
· A 100% paperless application enabling faster policy issuance
· Aims to double the bank customers in 2015
Delhi/Mumbai, <Date>2015: Max Bupa, a leading player in health insurance market and Mastek, the provider of core insurance systems services to over 120 insurance carriers globally today announced the launch of a first ever device and operating system agnostic Over The Counter (OTC) sales application for its bancassurance business. This application that automates the policy issuance process for Max Bupa’s bancassurance partners has been developed by Mastek. The application is available on iOS, Android and Windows platform with accessibility on iPads, Tabs, Windows based laptops and desktops.The adoption of Tab Based Policy Issuance will facilitate faster processing of new policies, easy online application process, hassle free paperless operations and a smooth customer experience at the point of sale.
The service has been initiated for one of the largest banks in India and will be subsequently rolled out to Max Bupa’s other bank partners. The future roadmap includes rolling out the application for other sales and distribution channels like agency and direct sales.
Somesh Chandra, Chief Operations Officer and Chief Quality Officer, Max Bupa said “I am pleased to announce the launch of Tab Based Policy Issuance over The Counter (OTC) application, which has made us the first health insurer in the industry to offer instant policy issuance through an online interface to bank customers. This is one of the key milestones in our journey to provide exemplar service to our bank customers. Our bancassurance business is growing at a steady pace, with this initiative, we will enrol many more customers at a faster pace and benefit as a business. Over the years, we have strengthened our position as an IT Leader in the industry and such initiatives open up gamut of opportunities in enabling new business through innovative and responsive technology. The application has been well received by our bank partners. Our endeavor is to offer Over The Counter policy issuance through all our sales and distribution channels in the near future.”
Puneet Nath Kapil, IT Head, Max Bupa added, “We are excited to launch an innovative sales application for our business. At Max Bupa, we have a strong focus on utilizing technology to deliver the best in class service and a seamless experience to our customers, partners and employees. We are thankful to our Bank alliances for partnering with us in co-creation of this solution. We thank Mastek for providing the technology expertise in delivering the Application and supporting us throughout the journey”
Abhijit Ambekar, Head Sales, India and Asia/Pacific, Mastek said “Mastek is delighted to start its relationship with Max Bupa, one of the India’s leading Health Insurance Companies. We are excited to see the value delivered by the application to Max Bupa and will look forward to seeing the application roll out in conjecture with the organization’s future road map.”
Vipul Sud, Regional Manager, Asia-Pacific, Mastek said “Max Bupa is a leading health insurance player that believes in the value that self-service can deliver. We look forward to see this platform grow and help Max Bupa in achieving their objective. “
About Max Bupa Health Insurance
Max Bupa is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa, a leading international healthcare provider with 65 years of healthcare knowledge. Max Bupa brings together a combination of Bupa’s health insurance and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1400 people and its network of 26 offices across 16 cities - Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata, Patna, Goa, Jodhpur and Ludhiana. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups.
Max Bupa has a direct working relationship with a network of over 3500 top quality hospitals and healthcare providers, with plans to extend its network of hospitals to other parts of the country. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.
Mastek is a publicly held (NSE: MASTEK; BSE: 523704) leading IT player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide.
In September, 2014 Mastek announced, demerger of the Insurance Products and Services business of Mastek Limited (Mastek) into a new company to be named as Majesco Limited (Majesco) followed by transfer of the offshore insurance operations business (Offshore Insurance) by Majesco to Majesco Software and Solutions India Private Limited (MSS India), a wholly owned subsidiary of MajescoMastek Insurance Software and Solutions Inc.