Country's oldest insurance service--Postal Life Insurance - of the postal department would soon go online allowing policy holders to view the status of their policy and deposit their premium online. Around 15 head post offices in the state would go online on Monday, including Allahabad head post office and Varanasi Cantt head post office to offer the facility.
Director postal services, Krishna Kumar Yadav said that after successfully implementing Core Banking Services in post offices, the department has now decided to make Core Insurance Solution (CIS) online. Infosys has developed the software for the department.
As part of the project, central processing centers (CPC) are being established in all head post offices of the country to enable speedy processing of insurance related application and claims. The centres would be equipped with high speed printers and scanners along with high speed internet connectivity.
Yadav further said, "15 head post offices will go online under the project on Monday. By the year end all head post offices of the state would be online."
He said, "There are more than 28,000 policy bond holders in Allahabad head post office and more than 26,000 in Varanasi Cantt Head Post Office."
After making policy online, policy holders would be able to view status of their policy, deposit premium and other details online. Currently insurance bonds are issued by divisional superintendents but now it will be done by the postmasters at head post office level which will reduce the time taken in issuance of bonds.
In the current year, department did a business of Rs 160 crore in life insurance in Allahabad region only, reveals a data by the department.
Postal Life Insurance is India's oldest insurance service and was started on February 1, 1884. The department introduced Rural Postal Life Insurance in 1995 for people in rural areas. Currently, employees of government, semi-government and government controlled organizations are eligible for the insurance.
Director postal services, Krishna Kumar Yadav said that after successfully implementing Core Banking Services in post offices, the department has now decided to make Core Insurance Solution (CIS) online. Infosys has developed the software for the department.
As part of the project, central processing centers (CPC) are being established in all head post offices of the country to enable speedy processing of insurance related application and claims. The centres would be equipped with high speed printers and scanners along with high speed internet connectivity.
Yadav further said, "15 head post offices will go online under the project on Monday. By the year end all head post offices of the state would be online."
He said, "There are more than 28,000 policy bond holders in Allahabad head post office and more than 26,000 in Varanasi Cantt Head Post Office."
After making policy online, policy holders would be able to view status of their policy, deposit premium and other details online. Currently insurance bonds are issued by divisional superintendents but now it will be done by the postmasters at head post office level which will reduce the time taken in issuance of bonds.
In the current year, department did a business of Rs 160 crore in life insurance in Allahabad region only, reveals a data by the department.
Postal Life Insurance is India's oldest insurance service and was started on February 1, 1884. The department introduced Rural Postal Life Insurance in 1995 for people in rural areas. Currently, employees of government, semi-government and government controlled organizations are eligible for the insurance.
Source : http://timesofindia.indiatimes.com/
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