Bimalendu Chakrabarti: Change Management

In the fast changing financial sector, companies have realised the importance of change, to meet the new challenges brought about by competition and higher customer expectations. The New India Assurance embarked on a Business Process Re-engineering exercise with short, medium and long-term goals with focus on 3Cs – cost of processing; claims pay-out; and, customer servicing. Amongst major initiatives taken up are setting up of specialised offices, catering to claims servicing and distribution channels. Process changes were brought about by document simplification and standardisation; performance and claims settlement monitoring; claims handling by centralised Claims Hub; and, specialised marketing offices for large corporate clients.