Future Generali Implements Newgen's DMS

Future Generali reportedly has announced it is implementing Newgen Software Technologies’ Document Management System, “DMS”, solution based on Newgen OmniDocs to manage new business and policy servicing documents.

Officials at Future Generali said the relatively new insurance company is a joint venture of India’s Future Group, which operates in Retail, Capital, Brands, Space, Logistics and Media, and Italy’s Generali, which deals in the global insurance and financial products market space. The insurance company operates in life related matters through Future Generali India Life Insurance, and also in non-life related matters through the Future Generali India Insurance.

“With a vast section of the Indian market still relatively uninsured and underinsured, Future Generali envisages a huge potential for growth and is looking at technology as a key enabler in achieving its objectives,” said Rajeev Shirodkar, chief information officer for Future Generali India Life Insurance Co Ltd. “Efficient management of documents is one of the critical areas for us in ensuring high standards of customer service, and Newgen’s comprehensive DMS solution, will enable us to competently manage and monitor our policies.”

Future Generali official sources said the DMS was procured with after a careful study, and its selection was based on being able to significantly improve efficiencies in insurance companies’ operations by providing a systematic method for scanning, creating, categorizing, storing, locating, and retrieving structured and unstructured documents.

The company also added that a major differentiator in Newgen’s DMS application was its guaranteed low total cost of ownership and high return yield when considered over a significant period of time.

 “With this implementation, we are glad to support Future Generali to streamline its processes to sustain information integrity and availability, thereby leading to better productivity and faster decision making," said Punit Jain, vice president of sales and marketing for Newgen Software Technologies.