CMD/HRD/vol.2/no.6

Communiqué

Dear Colleagues,

In the near future the general insurance business in India is likely to see some rapid changes. We are expecting greater flexibility in the rating and discounts for risks underwritten by us. The Detariffing Department will communicate to you our various guidelines in this regard from time to time. While providing discounts we have to bear in mind the profitability of individual portfolios. The standard market wordings for the erstwhile tariff products are being drafted by IRDA and shall soon be made available the public domain.

At National Insurance through the Business Process reengineering exercise, we are likely to change many of our core processes. Price water House, our consultants for the BPR Project shall submit their draft report by 30th November, 2007. Implementation of the recommendations made by PwC and, shall commence after acceptance of the draft report by the Board. For preparing the report, inputs have been taken by PwC from all stakeholders including all sections of the employees, our Directors, channel partners, intermediaries etc. Before submission of the draft report we propose to have another round of presentations for representatives of various associations and unions.

The changed Business processes are being designed with an aim to make the customer the key focus of our business processes. The IT architecture will enable us extend our virtual services to the customers through various service channels such as web portals, front desks, kiosks etc.

Implementation of the changed business processes would require a change of our IT systems and more importantly acquiring new skills. We have to be ready to manage the ensuing changes at various levels. At the individual level we should be ready to acquire the skills required to deliver the changed business processes. A detail training methodology shall be worked out with PwC for effective implementation of the changed business processes.

With best wishes for the festive season,

V.Ramasaamy

(Chairman-cum- Managing Director)

Dt.: 26-11-07

Place: Kolkata

HOME