RAMP Global and the Indian Institute of Insurance Surveyors & Loss Assessors (IIISLA), promoted by IRDAI, have signed an exclusive agreement on automotive insurance claims. This strategic collaboration will transform the national landscape of insurance claims processing by implementing RAMP's pioneering cloud-based technology into IIISLA’s operations.
Ramp Global is a digital platform providing garage management software and other softwares to digitally transform businesses in automobile industry.
The aim is to help insurance surveyors to experience a swift, transparent and precise claim-handling process, the press release noted, adding that this will result in rapid settlements, improved accuracy, and enhanced customer satisfaction.
With RAMP's superior cloud-based solutions, IIISLA is empowered to become India's premier platform for insurance claims reporting and processing. RAMP's proprietary technology will enable seamless end-to-end claims processing, from inception to conclusion, metamorphosing insurer-policyholder interactions. This will include capabilities such as digital claims reporting, standardized reporting, workshop certification and classification, and labour rate scheduling on a PAN India level.
Ashok Kumar, Director and CEO, and Lalit Gupta, President of IIISLA said, “RAMP’s experience in streamlining and structuring vehicle maintenance data and information would be very instrumental in claims reporting and processing. We aim to reduce the Insured's Claim Ratio (ICR), expedite Turn Around Time (TAT) for policyholders, and curb overall industry wastage caused by delays and malpractices. RAMP’s solution will redefine insurance claims management, fostering efficiency, transparency, and customer-centricity.”
Amit Kumar, Co-founder and CEO of RAMP Global said, "This partnership with IIISLA is more than a collaboration; it's the start of a digital revolution in insurance claim reporting and management.”
The technology deployment for this endeavour will be facilitated by VMax, a Platinum partner for RAMP.