Cholamandalam MS General Insurance Company (Chola MS) Ltd., which is a Joint Venture between Murugappa Group and Mitsui Sumitomo Insurance Group of Japan, has recently been awarded "The Innovation Heroes - Achievers Series 2013" for its end-to-end automated motor claims settlement process.
Sundar Venkitakrishnan - Sr. Vice President - I.T & Operations collected the award on behalf of Chola MS.
The award has been instituted by DynamicCIO.com.
The company has informed that Chola Motor Claims Connect - the automated claims settlement process has helped to reduce the Claims Settlement Timeby more than 20%. This has also resulted in 20% reduction in the average claims handling cost and improved the customer satisfaction significantly.