United India Insurance co signs 7-year pact with HP
United India Insurance Company Ltd signed a seven-year agreement with Hewlett Packard for getting hardware and software support to improve services and reduce transaction costs.
By PTI |
CHENNAI: United India Insurance Company Ltd on Thursday signed a seven-year agreement with Hewlett Packard for getting hardware and software support to improve services and reduce transaction costs.
The project cost is Rs 100 crore, spread out as Rs 70 crore for the hardware and Rs 30 crore for software, services, maintenance and training over seven years, G Srinivasan, Chairman and Managing Director of United India Insurance, told a press conference here today.
The scope of the system integration would include supply, customisation, implementation and maintenance of core and other application software, hardware and system software, he said.
HP, along with its partner SSP, would implement Sirius 4 Insurance (S4I), a centralised core insurance application for United India.
HP would also implement SAP enterprise resource planning (ERP) platform for financial accounting and human capital management solution, HP India Managing Director Balu Doraisamy said.
Srinivasan said this core insurance solution would help increase the company's level of customer service apart from reducing the IT and transaction costs.
"We would be able to save about 20 to 22 per cent per transaction once this is implemented," he said, adding that the company could recover the project cost within two years.
In the initial phase, the solution will be implemented as a pilot project from September next year, and by the end of next year, it would be implemented in all the offices of the company, the CMD said.
The project cost is Rs 100 crore, spread out as Rs 70 crore for the hardware and Rs 30 crore for software, services, maintenance and training over seven years, G Srinivasan, Chairman and Managing Director of United India Insurance, told a press conference here today.
The scope of the system integration would include supply, customisation, implementation and maintenance of core and other application software, hardware and system software, he said.
HP, along with its partner SSP, would implement Sirius 4 Insurance (S4I), a centralised core insurance application for United India.
HP would also implement SAP enterprise resource planning (ERP) platform for financial accounting and human capital management solution, HP India Managing Director Balu Doraisamy said.
Srinivasan said this core insurance solution would help increase the company's level of customer service apart from reducing the IT and transaction costs.
"We would be able to save about 20 to 22 per cent per transaction once this is implemented," he said, adding that the company could recover the project cost within two years.
In the initial phase, the solution will be implemented as a pilot project from September next year, and by the end of next year, it would be implemented in all the offices of the company, the CMD said.
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