Mahindra Satyam to develop Irda's IT project

Mahindra Satyam has been selected by the Insurance Regulatory Authority of India (Irda) to develop and implement an IT system for monitoring surveyors.

"...Mahindra Satyam has been selected as an implementing agency for the development and implementation of Integrated Surveyor Licence Management System (ISLMS)," Irda said today.

The selection was made following a detailed scrutiny of the commercial proposals submitted by shortlisted IT firms and further evaluation, the regulator said.

The other shortlisted firms included, Tata Consultancy Services, CMC, NSE IT, NIIT Technology, R Systems International and L&T Infotech.

In order to have an effective licence generation, renewal and monitoring mechanism, Irda intends to create ISLMS to facilitate the surveyor to register online and see their licence issuance and renewal status.

Irda hopes ISLMS would further create an environment for non-Life companies to not only display the list of their empanelled surveyors but also update their performance periodically.

At present, the records of trainees and licensed surveyors and loss assessors are maintained in excel formats.

As of now, there is no web-based integrated system for monitoring the performance of surveyors, empanelled companies and claims handled by them.

Besides, the regulator also desires to create and maintain a repository system of all the matters related to licensed surveyors.

ISLMS would also mean complete access and control to the regulator for monitoring the surveyor licensing mechanism, Irda had said while inviting bid from reputed IT firm for the project.