Computer Age Management Services’ wholly owned subsidiary --
CAMS Insurance Repository Services (CAMSREP) has signed an agreement with Life
Insurance Corporation of India (LIC) for providing Insurance Repository
Services. Consequent to this the Insurance policies issued by LIC, the
country’s largest life insurer, can be issued in electronic (dematerialised
format) through e-Insurance Accounts (eIA) that can be opened with CAMSREP.
This is a significant milestone event in the industry given the fact that the
country’s largest Life insurer is commencing their engagement for electronic
issuance of policies.
CAMSREP one of the first repository to get IRDAI license,
has been working towards digital transformation of insurance experience for the
past decade and is servicing over one crore policies in the electronic format.
CAMSRep has also invested in digital transformation opportunity and has built
the first ever integrated industry benefit realisation platform - Bima Central
for its eIA holders. Bima Central enables eIA holders to maintain their
insurance portfolio as well as avail services from insurers like renewal
payment, updation of personal details and raise policy servicing requests.
Computer Age Management Services offers integrated services
for receipt, verification and processing of financial and non-financial
transactions for the BFSI (banking, financial services and insurance) sector,
largely the mutual fund industry.
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