Future Generali adopts tele-commerce to enable premium payments

First insurance company in India to offer end-to end Life and non-Life insurance premium & renewal payments over phone

Atom technologies, a pioneer in providing Tele-Commerce solutions today announced the successful implementation of atom IVR, at Future Generali, India’s leading total insurance solutions player.

Future Generali, the insurance joint venture between India’s Future Group and Generali of Italy adopted Tele-commerce to offer its customers convenience to make premium or renewal payments in a hassle free and time saving manner just by using a phone and their credit cards. With this implementation Future Generali becomes the first insurance company in India to provide end-to end life/non-life insurance premium and renewal payment option over the phones.

“With a vast section of the Indian market still relatively uninsured and underinsured, Future Generali, as a Total Insurance Solutions provider, envisages a huge potential for growth and is looking at technology as a key enabler in achieving its objectives.” said Anup Seth, Head – Mallassurance Channel - Future Generali He further added, “With the increasing penetration of cell phones, mobile commerce is set to witness tremendous growth over the coming years. With our IVR service, our customers can now make their premium payments using their mobile phone. atom’s IVR platform also ensures that payments are secure, fast and convenient ”

“It gives us great pleasure to partner with Future Generali, one of the leading insurance companies in India. We are confident that our solutions will help insurance companies in serving their customers better and ease their premium collection process. It will also reduce their cost overheads as cost per transaction will come down for them.” said Dewang Neralla, Director - Atom technologies.

To avail this service, a customer needs to dial in to a Future Generali call center and speak to the CSR (Customer Service Representative) for renewal of an existing policy or to buy a new policy. The CSR initiates the three way conference call between customer, atom and himself, as the call is connected the IVR prompts the customer to enter credit card details on the phone’s key pad. The transaction is completed when the IVR reads out the successful authorization.

About Atom Technologies

Atom technologies is a digital, retail initiative of the Financial Technologies Group, a group that has pioneered creation of digital marketplaces and technology solutions for the financial markets. atom was formed in 2006 to focus on harnessing the digital transaction ecosystem for payments with a special focus on the ever-increasing mobile ecosystem. As a mobile payments service provider, atom, through innovative use of technology in the mobile transactions ecosystem, has created multiple “patent pending” products & services for mobile payments, mobile banking for the un-banked, IVR based payments & mobile based service distribution framework. Today, its services have seen more than $ 30 million+ of transactions going through its environment with client list spanning the best of the associates in the industry. For more details on atom, log on to www.atomtech.in

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. Future Generali is currently active through 93 branches across 84 cities and over 36,000 licensed advisors. Besides this large network of agents & branches, Future Generali also actively offers their Insurance solutions across 176 Future Group malls

About Tele-Commerce

“Tele-Commerce”, a term which combines together all electronic payments made over the mobile as well as landline phone (ex: through IVR systems). The term was a dire need of the telecom and e-payment industry for representing wide-ranged payment solutions over the telephone, under one macro expression for an instant connect with the masses.

The term was first coined by an Indian company, atom technologies, a group company of Rs. 1,300 crores Financial Technologies Group. atom technologies is the pioneer in providing comprehensive payment solutions in the new found tele-commerce space. Till date atom has successfully completed over 1000 transactions in the tele-commerce arena, which includes payments made over mobile phones (buying movie/airline tickets etc.), through atom IVR (paying insurance premium online, subscribing to DTH etc.) and driving micro-finance through mobile payments.