Insurance company Liverpool Victoria has signed a business process outsourcing deal with Indian firm 3i Infotech, to overhaul its general insurance system in an attempt to improve operational performance.
Liverpool and Victoria has 2.5 million customers and members and sees the deal as a stepping stone to breaking into UK’s top five insurance companies list.
The company is to adopt 3i Infotech’s automated Premia General Insurance system.
The system has already been installed by AIG, Tokio Marine, Prudential, Hallmark Insurance, and Oriental Insurance, and is designed to help financial companies optimise their internet-based business.
John O’Roarke, managing director designate of Liverpool Victoria’s general insurance business, said, “The vision and business model we wish to pursue is to become a top-five general insurer within five years.
“As an all channel, all products general insurance company, we aim to offer more competitive pricing and improved customer service to personal customers and SMEs, and automated business processes will be a key to our success.”