Chola MS Generral Insurance bags Financial Insights Innovation Award

CHENNAI: Chola MS General Insurance, a joint venture of the $3.8 billion Murugappa Group and Japan based Mitsui Sumitomo Insurance Group, has bagged the " Financial Insights Innovation Award" at the recently held Asian Insurance Congress, Singapore.

The award was presented to Chola MS for their innovation by doing claims survey process in a mobile phone thus reducing time, increased productivity and fraud prevention, Chola MS General Insurance said in a statement.

"This is a great achievement wherein technology has collaborated with the claims in delivering a workable, cost-effective and simple solution to a complex issue of claims management and reduced turn around time..", Chola MS Managing Director S S Gopalarathnam said on the award.

About 68 insurance companies from Asia-Pacific region participated in the The Financial Insights Innovation programme to demonstrate innovation in the customer engagement, channel enhancement and product development, the statement added.