ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. ICICI Prudential Life began its operations in fiscal year 2001 and has consistently been amongst the top players in the Indian life insurance sector. In FY2015, ICICI Prudential Life became the first private life insurer to attain assets under management of ₹1 trillion.
By leveraging Accuity’s solutions, ICICI Prudential Life can now focus on growing its customer base knowing that it can protect the interests of all stakeholders and its reputation by more effectively managing financial risk and comply with all regulations while continuing to put customers at the heart of its business.
- The Compliance team is confident that all requests are going through the new systems and being reviewed according to regulatory requirements
- The IT team is more comfortable that the new system is hosted in an environment over which they have full control of and where they can learn the nuances of the software
- The Underwriting team are certain that there are no dealings with sanctioned entities/individuals and unknowingly underwriting high-risk policies and has increased their decision making process
Read the case study to learn how ICICI Prudential achieved this.