Newgen Software, a leading provider of Business Process Management (BPM) and Document Management System (DMS) solutions, today announced the successful implementation of its DMS solution based on Newgen OmniDocs™ at Future Generali, India’s leading Total Insurance Solutions player, to manage new business and policy servicing documents.
Future Generali, the insurance joint venture between India’s Future Group and Generali of Italy, is implementing a Document Management System (DMS). Future Generali has presence in both the Life and Non-Life areas through Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd, respectively.
“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 Mr. Rajeev Shirodkar, Chief Information Officer, 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.” he added.
Speaking on the implementation, Mr. Punit Jain, Vice President, Sales and Marketing, Newgen Software Technologies said, “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."
The DMS is expected to bring about better efficiencies in Future Generali’s operations. The solutions will provide a systematic method for scanning, creating, categorizing, storing, locating, and retrieving structured and unstructured documents. Beyond automating the document handling process, DMS will also yield significant cost benefits in the long run.
Future Generali is currently active through 93 branches across 84 cities and over 30,800 licensed advisors. Besides this large network of agents & branches, Future Generali also actively offers their Insurance solutions across 176 Future Group malls.
About Future Generali
Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali Group.
Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.
About Future Group
Future Group (futurebazaar.com), led by Mr. Kishore Biyani, is positioned to cater to the entire Indian consumption space. The Future Group operates through six verticals: Future Retail (encompassing all lines of retail business), Future Capital (financial products and services), Future Brands (all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media spaces).
The group’s flagship enterprise, Pantaloon Retail, is India’s leading retail company with presence in food, fashion and footwear, home solutions and consumer electronics, books and music, health, wellness and beauty, general merchandise, communication products, E-tailing and leisure and entertainment. The company owns and manages multiple retail formats catering to a wide cross-section of the Indian society and its width and depth of merchandise helps it capture almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai (Bombay), the company operates through 4 million square feet of retail space, has over 150 stores across 35 cities in India and employs over 15,000 people. The company’s revenues for FY 05-06 were Rs 2017 crore
Founded in 1987, as a garment manufacturing company, Pantaloon Retail forayed into modern retail in 1997 with the opening up of a chain of department stores, Pantaloons. In 2001, it launched Big Bazaar, a hypermarket chain, followed by Food Bazaar, a supermarket chain and went on to launch Central, a first of its kind, seamless mall located in the heart of major Indian cities. Some of its other formats include, Collection I (home improvement products), E-Zone (consumer electronics), Depot (books, music, gifts and stationaries), aLL (fashion apparel for plus-size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has recently launched its retailing venture.
Some of the group’s subsidiaries include Home Solutions Retail India Ltd, Future Bazaar India Ltd and ConvergeM Retail India Ltd, which leads the group’s foray into home improvement, etailing and communication products, respectively. Other group companies include, Pantaloon Industries Ltd, Galaxy Entertainment and Indus League Clothing. It has also entered joint venture agreements with a number of companies including ETAM group, Gini & Jony, Liberty Shoes, Staples and Planet Sports, a company that owns the franchisee of international brands like Marks & Spencer, Debenhams, Guess and The Body Shop in India.
Future Capital Holdings, the group’s financial arm, focuses on asset management through real estate investment funds (Horizon and Kshitij) and consumer-related private equity fund, Indivision. It also plans to get into insurance, consumer credit and offer other financial products and services.
Future Group’s vision is to, “deliver Everything, Everywhere, Everytime to Every Indian Consumer in the most profitable manner.” One of the core values at Future Group is, ‘Indianess’ and its corporate credo is – Rewrite rules, Retain values.
About The Generali Group
The Generali Group is one of the most significant participants in the global insurance and financial products market. The Group’s Parent and principal operating Company is Assicurazioni Generali, market leader in Italy, founded in 1831 in Trieste.
Characterised from the outset by a strong international outlook and now present in 64 countries, Assicurazioni Generali has consolidated its position among the world’s leading insurance operators, and has grown in importance in Western Europe, the Company’s principal area of operation, with significant market shares in Germany, France, Austria, Spain, Switzerland as well as in Israel. In recent years, the Group has made a significant return to Central-Eastern European markets and has set up offices in the principal markets of the Far East, among which China and India.
• Generali Group is one of the leader insurance groups in Europe, with a 2008 total premium income of € 69 billions;
• It is present in 64 countries;
• It has over 60 millions clients worldwide;
• It has 84,063 employees (15,706 in Italy);
It has over € 350 billion of assets management.
About Newgen Software
Newgen Software Technologies Limited is the market leader in Business Process Management (BPM) and Document Management System (DMS), with a global footprint of about 750 installations in over 35 countries. More than 100 of these implementations are large, mission-critical solutions deployed at world's leading BFSI, BPO and Fortune Global 500 companies.
Newgen (newgegensoft.com) is recognized by distinguished analyst firm IDC in its exclusive report “Newgen Software: Global Leader in Business Process Management and Document Management Solutions.” With HSBC and SAP investment, Newgen is one of the rare product companies to have backing of both leading financial and technology companies of the world.
Winner of prestigious awards, such as CNBC-TV18 “Emerging India Award 2008”, Frost and Sullivan's “Market Leadership Award for Document Management System and Workflow Software & Services” and “Distinguished Application Product Company” by NASSCOM, Newgen’s Quality Systems are certified against ISO 9001:200