Insurer signs software outsourcing deal with Indian specialist
Liverpool Victoria aims to improve growth and internet sales
Insurance company Liverpool Victoria has signed a business process outsourcing (BPO) deal with Indian software company 3i Infotech to automate its general insurance business, pursue a digital strategy and facilitate growth.
The firm aims to improve performance in the internet market and is following the lead of other international insurance companies, such as Prudential and Hallmark Insurance, in selecting 3i Infotech’s Premia general insurance platform.
Mitch Lambton, IT director at Liverpool Victoria, says the company aims to be a top-five general insurer within five years.
‘To do that we need to double our business in the next five years through a variety of channels, including our call centres where we will be working with BT voice over IP technology, and by making a big push over the internet,’ he said.
The Premia system supports multi-line businesses with unified distribution across multiple channels including direct, internet and brokers.
Liverpool Victoria hopes to be able to improve its web sales while establishing consistent controls over all distribution channels.
‘We wanted a fully integrated multi-distribution channel to conduct business. Our mission was to find an end-to-end system with integrated functionality to manage front and back-office requirements,’ said Lambton.
With high growth aims, it is crucial that Liverpool Victoria can exploit digital distribution channels while ensuring that the back-office can respond efficiently and quickly to any changes in the market.
‘We’re moving very quickly and to achieve our ambitious plans, being able to reduce time to market of new products is key. The product requires little bespoke software and is extremely configurable so we can launch products in weeks rather than months,’ said Lambton.
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