MPI Generali undergoes digital transformation with tech firm Kofax
KUALA LUMPUR: Leading Malaysian insurance company MPI Generali Insurans Bhd (MPI Gnerali) will see a significant advancement in its digital services and offerings via its collaboration with tech solutions partner Kofax.
Recently, MPI Generali signed a memorandum of understanding (MOU) with Kofax to adopt the latter’s Digital Process Automation (DPA) and Robotics Process Automation (RPA) solutions to further improve MPI Generali’s customer experience and overall business process efficiency.
MPI Generali’s digital transformation programme will see improvements in its customer onboarding journey and key services such as underwriting, claims, and invoices processing through the deployment of a unified platform with Kofax Total Agility, Mobile and RPA solutions.
The latest partnership with MPI Generali is seen as a joint digital disruption where Kofax will continue to grow its regional footprint in the insurance industry while revolutionizing it at the same time.
“In this era of mobile transactions and digital services, it only makes sense for MPI Generali to digitise our onboarding and claims processes, with this initiative we are putting our customers at the center of digital transformation across the insurance value chain,” MPI Generali chief executive officer Oliver Tan said.
“We looked for an experienced tech solutions provider who could integrate with our stringent requirements, and we are happy to announce that Kofax met our needs with their groundbreaking Digital and RPA solutions.”
The entire project is expected to be fully implemented by 2018, and will undergo several phases to enhance and digitize MPI Generali’s current services.
Phase 1 will revolve around policy servicing and new applications while Phase 2 will center on claims management.
The third and final phase will see improvements to accounts and billings.
For decades, insurance companies have often received feedback of being slow in processing claims or too complex to sign up for insurance policies. Digital and RPA solutions empower companies to be more efficient in signing up, approve, and process claims and invoices.
This would also naturally lead to reduced operational and ancillary costs, improved organisation and increased Net Promoter Score.
MPI Generali head of Strategy and Transformation Vikas Sinha will be steering the company’s digital transformation project with Kofax.
He expects increased customer satisfaction levels for MPI Generali due to more self-service options and lower barriers to sign up for policies.
Sinha also anticipates that the digital transformation will lead to an interconnected system that will also result in simpler, smarter and faster experience for customers through efficient processing and fewer user errors.