CAMS Insurance Repository Services Limited (CAMSREP), the wholly owned subsidiary of Computer Age Management Services Limited 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.
Bima Central is available in Hindi & Telugu, apart from English and can be accessed via Web, Android & iOS applications. Within few quarters of launch, it has garnered 4.5 lakh active users and now processing close to 1 lakh service requests per month on this platform.
Shares of Computer Age Management Services Limited was last trading in BSE at Rs. 3409.90 as compared to the previous close of Rs. 3322.30. The total number of shares traded during the day was 12870 in over 2492 trades.
The stock hit an intraday high of Rs. 3453.00 and intraday low of 3287.55. The net turnover during the day was Rs. 43805601.00. |
