Under the guidance of

Prof. Dr. Sunayana jain

By
ABHINAV ANAND (BM-014116)
ABHISHEK AWADHIYA (BM-014117)
GULSHAN CHAUHAN(BM-014118)
Mergers and acquisitions (M&A) are both
aspects of strategic management.
A merger is a legal consolidation of two
companies into one entity, whereas
an acquisition occurs when one company takes
over another and completely establishes itself
as the new owner.
IFFCO-Tokio General Insurance was incorporated
on 4th December 2000 with a vision of being
industry leader by building customer satisfaction
through fairness, transparency, and quick response.

It is a joint venture between the Indian Farmers
Fertilizer Co-operative (IFFCO) and its associates
and Tokio Marine and Nichido Fire Group which is
also the largest listed insurance group
in Japan.
From a modest Rs 213 Crores of GWP
(Gross Written Premium) in 2001-02 it has
achieved an impressive Rs 2248.16 Crores in
2011-12, thereby becoming one of India's
leading private players.
Client Data
Insurance carriers maintain accurate and updated client data
records. Information technology must be both secure and
comprehensive enough to store multiple names, addresses,
telephone numbers, email addresses and other pertinent
details.
Policy Details
Details of each insurance policy, ranging from life, home,
auto, boat, liability and business products, need to be
accurately recorded and merged with client data.



Claims Management
Information technology plays a vital role in allowing carriers to
record claims details and share data with police, other carriers,
attorneys and beneficiaries. Advanced computer software ensures
important information remains accessible and updated.
Beneficiaries
Life insurance companies utilize database technology to record
policy owners' beneficiary designations.
Payment Information
The most essential area is an insurance company's client payment
details. Above all else, billing and invoicing systems generate the
necessary revenue to keep the company in business.
IFFCO Tokio General Insurance has got the
Technical Support
for underwriting and reinsurance from Tokio Marine
and on Risk Management from tokio Risk Consulting
(TRC).
It is the first company in India to underwrite mega
policies for a fertilizer and an automobile company.
The problem was that the company's AS400-based
claims processing system had many manual processes
and couldn't cope with increasing business demands
and growing customer expectations.
It forced a duplication of data entry and time-
consuming documentation. It also meant higher
turnaround time for claim settlement, which made no
one happy.
To alleviate these pain points, Dubey and
his team rolled out a Rs 1.5 crore integrated
claims management system (ICMS)
developed using Java programs, a CRM
system, a document management system,
an enterprise service bus, and an SMS
gateway.
IFFCO Tokio is also the only insurance company in the
country to have a 100%-owned distribution channel to service
its retail customers called IFFCO-TOKIO Insurance Services
Ltd (ITIS).

As a customer focused company, they conduct bi-annual
customer satisfaction surveys through independent agencies to
gauge its operational efficiencies. This is backed by a robust
IT infrastructure which has enabled among other things,
speedy settlement of claims.

AgencyPro for Windows
AgencyPro for Windows is an insurance agency accounting
application. You can keep track of your sales
representatives commissions, customer payments and
balance sheets.
USSI510e
United Systems and Software Incorporated (USSI) is
designed to meet the current and future administration
requirements found in most traditional and non-traditional
life and health insurance companies


SmartOffice
SmartOffice is a customer relationship management
(CRM) application for insurance agencies.
SmartOffice also comes with a policy tracking
feature, which helps you to keep track of your
customers' policies.
Unirisx
Unirisx is the leading low-cost integrated core-
processing Software-as-a-Service (SaaS) used for Policy,
Billing and Claims.
The highly configurable web-based, on-demand
solution enables insurers, agents, brokers and other users
to rapidly create and launch new products.
Unirisx is customizable for any language, currency and
insurance product. Unirisx services more than 50 lines of
business with 25 currencies in 19 countries on 5
continents.

1) Health insurance
2) Travel insurance
3) Motor insurance
4) Home insurance
5) Other insurances

Application Submission
Many life insurance companies now use digital applications.
Digital Signature Pads
Life insurance agents who use digital applications can capture
client signatures on portable imaging devices. This reduces
paper usage and ensures information will be transmitted
accurately.




Medical Information Bureau
Every applicant's information, along with the
company's subsequent underwriting decisions, are
stored in electronic databases.
Potential clients names and information are
checked against this database to detect fraud and
obtain relevant data discovered by other carriers.
Motor Vehicle Abstracts
Information technology allows carriers to review a
potential client's driving records digitally in secured
online databases.
Criminal Records
Digital information technology allows carriers to
obtain and review criminal records quickly and
efficiently.

We are going to conclude here by saying IT
has facilitated Iffco-tokio straight-through
processing for the entire claim system. It has
also increased transparency across the
organization, reduced turnaround time and
data entry and associated errors.