The PREMIA solution, a total internet-enabled enterprise information solution for the insurance industry, will be implemented at American Home Assurance Company's Cyprus offices helping the company to gear up its General Insurance business to meet the new European Union regulatory obligations.
PREMIA is designed to take the risk out of insurance. It is flexible, easy to operate with powerful information entry and retrieval capabilities. Henceforth, after the implementation American Home Assurance management will experience considerable improvement in management control due to reliability and speed of access to critical information. American Home Assurance Company will also experience enhanced customer service and faster reconciliation capabilities due to online communication, advanced reporting processes and data mining capabilities.
"Two fundamental features that we look for in any integrated insurance processing system are its flexibility and agility to meet both the current and future business and operational improvement needs of our organization. PREMIA has incorporated these characteristics throughout its architecture, report generating capability and its front-end web-enabled customer interface," said Walid Sidani, Regional Operations Manager, Middle East, Mediterranean, South Asia, American International Group, Inc. (AIG). "We are optimistic that this system migration effort
will help the Cyprus operation of AIG to broaden its suite of products and services, expand its data mining capabilities and meet new European Union and local insurance regulatory obligations."
"One of our main objectives is to make the company's operation more efficient, and in turn complying with new EU regulations and maintaining AIG worldwide standards," Miltiades Miltiadou, Senior Manager of American Home Assurance Company. "We believe that this will be a straightforward task with PREMIA in place."
"American Home Assurance Company selected PREMIA for its General Insurance processes because it boasts advanced and scalable functionalities, capable of meeting their immediate and future business requirements," said Kalpesh Desai, Executive Vice President and Operating Head, ICICI Infotech Ltd. (Middle East & Africa). "We look forward to working closely with American Home Assurance and are delighted with getting this opportunity to take PREMIA - a market leader in GCC - into Cyprus and serving the growing needs of insurance company's in this market."
PREMIA allows insurance companies to possess the critical ability to handle more volumes of business at high speeds, and the tools to provide a higher level of service to the customer. The application boasts flexibility and scalability features that give an insurance company the vital edge over competition, as they grow. PREMIA caters to multiple classes of the business, namely general accident, fire, motor, engineering, marine, aviation, life, and medical categories.
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American Home Assurance Company ensures customer service with PREMIA
- United Arab Emirates: Tuesday, March 30 - 2004 at 12:02
- PRESS RELEASE
ICICI Infotech (MEA), a global leader in providing enterprise business management solutions, announced today that American Home Assurance Company - Cyprus Branch, a member of the American International Group, Inc. (AIG), has chosen PREMIA to streamline its general insurance business processes.
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About American Home Assurance CompanyAmerican Home Assurance Company is a member of American International Group, Inc. (AIG). It was incorporated and is based in New York, U.S.A. In 1960 American Home established a branch in Cyprus to write general insurance. Its local general agent is S. J. Zevlaris Management Co Ltd, which is also an AIG affiliate company.
AIG (American International Group) is the world's leading international insurance and financial services organization, with operations in approximately 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. AIG's global businesses also include financial services, retirement savings and asset management
ICICI Infotech Profile
ICICI Infotech is a global leader in providing Enterprise Solutions encompassing ERP II applications, end-to-end business solutions for Insurance companies as well as niche banking and IT security solutions, across 38 countries. The company is promoted by the NYSE-listed ICICI Bank, which has an asset-base of $25 billion.
For almost two decades now, ICICI Infotech has been servicing the Middle East and Africa region with a strong presence in the GCC countries, Sudan, East Africa, Nigeria, Ghana, Mauritius, Southern Africa, the CIS and the Mediterranean countries. Based at Dubai Internet City, ICICI Infotech (Middle East & Africa) has an estimated 200 full-time sales and experienced implementation consultants operating, directly or through partners, across the Middle East & Africa region.
ORION, ICICI Infotech's leading ERP II solution, has over 1600 loyal customers across Manufacturing, Distribution, Retail and Contracting industries around the world. CrossRoads, the online interactive Enterprise Relationship Management (ERM) solution, enables collaboration between vendors, customers, partners and employees. PREMIA, the integrated solution for insurance companies is the market leader with over 50% of the premium written in the GCC, written using it. PREMIA is now installed across 19 countries worldwide. The company's offerings for banks include solutions for Treasury Management, Asset-Liability Management, Factoring, Retail Lending and Risk Management.
Some of ICICI Infotech's prominent customers in this region include GlaxoSmithKline, Arab Beverages (Caprisonne), STALCO, Ali & Sons Group, Cellucom, Panasonic, Pioneer, Asmak, Intercare, Clarendon Parker, Al Fozan, American Insurance Group (AIG), Emirates Insurance, Emirates Bank and RAKBank. ICICI Infotech was ranked among the top 3 enterprise application solutions (EAS) vendors in the UAE in 2002 by market research firm IDC.
ICICI Infotech contact:
Mr Hari Padmanabhan, Executive Director & President, ICICI Infotech Ltd
Tel: +9714 3914900
Fax: +9714 3918773
Address: P.O Box 9109, Dubai, UAE
Media Contact:
Ms Sawsan Ghanem, PR Consultant, Active PR
Tel: +9714-3900228
Fax: +9714-3904656
Address: P.O. Box 502152, Dubai, UAE
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, March 30 - 2004 at 12:02 UAE local time (GMT+4)
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