Insurance

CMC has an extraordinary track record as a software solutions provider in the general insurance business. As of date, CMC has an impressive client list covering leading public sector insurance companies, namely, New India Assurance, National Insurance and United India Insurance. Top private insurers like ICICI Lombard, Cholamandalam MS, Universal Sompo and HDFC ERGO have recently been added to the portfolio of our client base.

GENISYS Enterprise is CMC’s inhouse ETL dataware housing tool where transactional data was extracted from the operating offices and data consolidated in the regional and head offices for all 3 public sector companies mentioned above.

It addresses all the requirements of Operating Office Data Exchange, Data Integration with Lateral and Higher Offices, Enterprise-wide Data Consolidation, Business Intelligence and Multi Dimensional Data Analysis. It also has the web component known as GENISYS Web Enterprise with features like e-covernote, e-claims, etc.

To expand and promote CMC’s focus on the insurance sector, Insurance Competency Centre (ICC) proactively functions with multifaceted activities in insurance business space in terms of innovative product research, development, and insurance education and training. The Insurance Competency Centre is located in four major cities of India: Mumbai, Chennai, Kolkata and Hyderabad.

75% of the non-life insurance policies in India are issued through CMC’s software GENISYS Configurator and GENISYS Re:

GENISYS Configurator is a 3-tier web-based suite of components that addresses the needs of a comprehensive insurance system covering underwriting, claims, accounts, reports and queries, etc. All the components can be used together as an integrated product or can be used individually to suit specific organisational needs. GENISYS Configurator allows the users to easily and rapidly define new insurance products, make changes to existing products and establish rules that govern the products’ behavior. The greatest strength of the solution lies in its flexibility and scalability.

GENISYS Configurator Broker Solution is addressed for brokers, travel agents, intermediaries, etc. For Tata Business Support Services, CMC implemented GENISYS Configurator Broker solution. Some general insurance companies (United India Insurance, National Insurance, New India Assurance, Oriental Insurance, ICICI Lombard and Royal Sundaram) in India had outsourced their BPO operations to Tata Business Support Services (TBSS) for underwriting the policies for new cars sold by Tata Motors dealers as well as subsequent renewals. Tata Motors wanted to ensure that dealers underwrite the insurance policies by using the GENISYS Configurator. The insurance companies BPO operation being carried out by TBSS for all policies sold and renewed by Tata Motor Dealers. GENISYS Configurator in TBSS provides insurance functionalities at Tata Motors dealers end. CMC's scope of work is Software Implementation, Post Implementation Software Maintenance and Technical Support Services.

GENISYS Re: A highly flexible application providing high degree of configuration catering to the entire reinsurance operations