Connect with us

Technology

Reimagining the Role of Insurance GCCs: Allstate India’s Journey towards a Global Talent Center

Published

on

BANGALORE, India, Aug. 26, 2024 /PRNewswire/ — In alignment with Allstate Insurance Company’s vision of helping customers protect their hopes and dreams, Allstate India has redefined the role of Insurance Global Capability Centers (GCCs). The company now not only delivers exceptional claims handling but also actively engages in critical decision-making processes, including underwriting and risk management. This transformation signifies a shift from being viewed merely as a processing center to becoming an integral part of Allstate’s global operations, strategically contributing to the company’s success and enhancing customer experience.

Claims Handling Excellence

At the core of Allstate India’s operations is a highly skilled team specializing in auto, property, and casualty claims processing. These professionals conduct meticulous technical evaluations of claims and thorough reviews of medical documentation to ensure precise insurance assessments. As a result, the claims settlement process is now seamless and hassle-free, significantly enhancing customer satisfaction. In the Financial Year 2023-24, Allstate India was able to achieve a remarkable claims settlement ratio, reflecting its commitment to efficiency and accuracy.

Strategic Policy Administration

Allstate India’s Policy Administration team supports over 20 million auto and property insurance policies throughout their lifecycle, from new business setup to renewals and terminations. By ensuring accurate premium ratings and managing critical policy transactions smoothly, the team plays a vital role in maintaining fair pricing and providing daily indemnification to customers. This not only strengthens customer trust but also aligns with Allstate’s Transformative Growth strategy.

Risk Management and Underwriting

The Risk Management Business Centre (RMBC) at Allstate India transcends traditional processing roles by offering comprehensive end-to-end underwriting excellence and advanced risk management solutions. Specializing in both auto and property lines of business, the RMBC ensures value creation for the customer and the company across new business and renewals. The team actively identifies opportunities to automate, eliminate, and simplify work processes, thereby optimizing customer value and contributing to the company’s profitable growth.

Financial Integrity and Efficiency

The Enterprise Financial Services team at Allstate India ensures financial integrity by managing critical functions such as cash application, vendor payments, and general ledger reconciliations. By processing vendor payments electronically and preventing fraud, the team saves Allstate millions of dollars annually. This dedication to financial accuracy and efficiency underscores Allstate India’s role in supporting the broader financial health of the company.

Licensing and Commissions

Allstate India’s Licensing and Commissions teams are crucial to maintaining operational integrity and regulatory compliance. These teams manage agent compensation adjustments, handle inquiries, and oversee agency receivables, adhering strictly to FINRA requirements. Their diligent work ensures seamless operations and upholds the highest standards of regulatory compliance and organizational integrity.

Customer Support

Allstate India’s Customer Support teams excel in providing unparalleled assistance to policyholders, whether through roadside assistance, policy management, claims processing, or chat support. By ensuring service providers are fairly compensated and addressing customer concerns across 17 diverse platforms, the team guarantees a frictionless journey for every customer interaction.

Shibu Mathew Zachariah, Director of Claims at Allstate India, said, “We have always prioritized our customers and worked towards enhancing their experiences with our services. By leveraging the expertise and efficiency of our exceptional teams, we are solidifying our position as a customer-centric insurance provider dedicated to delivering a seamless claims settlement experience. Our claims settlement ratio is more than just a figure; it is evidence of our unwavering commitment to put our customers at the core of our functioning. Our claim settlement services strengthen trust among our customers every day.”

“Having established a strong foundational baseline of operational excellence across the insurance value chain, we are now moving towards greater value creation by owning complex processes, driving innovation, and working closely on initiatives to enhance our customer experience. This maturity journey highlights Allstate India’s evolution as a strategic global talent center driven by strong values and shared purpose,” said Milind Patil, Director of Operations at Allstate India.

About Allstate India

The Allstate Corporation is one of the largest publicly held insurance providers in the United States. Ranked No. 84 in the 2023 Fortune 500 list of the largest United States corporations by total revenue, The Allstate Corporation owns and operates 18 companies in the United States, Canada, Northern Ireland, and India. Allstate India Private Limited, also known as Allstate India, is a subsidiary of The Allstate Corporation. The India talent centre was set up in 2012 and operates under the corporation’s Good Hands promise. As it innovates operations and technology, Allstate India has evolved beyond its technology functions to be the critical strategic business services arm of the corporation. With offices in Bengaluru and Pune, the company offers expertise to the parent organization’s business areas, including technology and innovation; accounting and imaging services; policy administration; transformation solution design and support services; transformation of property liability service design; global operations and integration; and training and transition.

Photo: https://mma.prnewswire.com/media/2489225/Milind_Patil_and_Shibu_Mathew.jpg
Logo: https://mma.prnewswire.com/media/2029616/4876114/Allstate_India_Logo.jpg

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/reimagining-the-role-of-insurance-gccs-allstate-indias-journey-towards-a-global-talent-center-302230355.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

The American Legion seeks entries for Fourth Estate Awards in media

Published

on

By

INDIANAPOLIS, Jan. 9, 2025 /PRNewswire/ — The American Legion has announced its call for entries in the annual Fourth Estate Awards competition for excellence in journalism and its positive impact on society. The deadline for submissions to be received or postmarked is March 15, 2025.

The American Legion presents the awards to recognize the outstanding achievements made in print and broadcast media. Website and podcast submissions are also encouraged to compete in the print or broadcast categories. In addition to the award, the winner in each category will be presented a $2,000 stipend to cover travel and lodging expenses to The American Legion National Convention in Tampa. The presentation will occur at approximately 9 am on August 28, 2025 at the Tampa Convention Center.

An entry form with contest rules can be found at https://www.legion.org/information-center/the-fourth-estate-award. You can also contact kchrisman@legion.org for further information.

Submissions are judged on the quality of the work and the impact that it had in producing a positive result for the community. The work must have been published, posted or broadcast in 2024.

All journalists or media outlets who believe their work improved society in a tangible and way are encouraged to submit their entry. There is no entry fee and no single medium is limited to the number of entries.

Past winners include CBS News, CNN, USA Today, WFTS (Tampa) and the Military Times. The complete list can be found at www.legion.org.

Media contacts: Katie Chrisman, (317) 630-1298, kchrisman@legion.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-american-legion-seeks-entries-for-fourth-estate-awards-in-media-302347119.html

SOURCE The American Legion

Continue Reading

Technology

CellFE® and Syenex Collaborate to Advance Cell Engineering with Hybrid Gene Editing Workflow

Published

on

By

ALAMEDA, Calif., Jan. 9, 2025 /PRNewswire/ — CellFE®, a leader in non-viral gene editing technology, and Syenex, a pioneer in enveloped delivery vectors, have announced an innovative collaboration to create a hybrid workflow that seamlessly integrates non-viral and viral approaches to cell therapy engineering. This next-generation process aims to enable streamlined workflows of complex edited cells for biotech and pharmaceutical applications. 

CellFE® and Syenex announce collaboration on hybrid gene editing workflow ahead of the JP Morgan Healthcare Conference.

The collaboration application note will be officially unveiled the week of the highly anticipated J.P. Morgan Healthcare Conference in San Francisco this January, a premier event that brings together industry leaders, investors, and innovators from around the world.

“The market has been anticipating a solution that seamlessly integrates non-viral knockout with viral knockin capabilities into a streamlined workflow—one that preserves cell viability and functionality without compromise.” said Dr. Alla Zamarayeva, CEO of CellFE. “By collaborating with Syenex, we are directly addressing this critical need.”

Jay Rosanelli, CEO at Syenex, added: “This joint effort showcases the role of collaborative science in accelerating the creation of life-changing medicines for patients around the globe. We are thrilled to partner with CellFE and showcase the potential of this novel hybrid workflow to dramatically simplify manufacturing of genetic medicines.”

This collaboration comes at a pivotal time as allogeneic and autologous cell therapy providers seek more efficient manufacturing processes. A key challenge is developing gentler yet highly effective techniques for delivering gene-editing cargo to patient cells, as current methods—often involving viral transduction and electroporation—can be detrimental to cells and extend recovery and processing times, particularly for complex, sequential editing. This innovative hybrid workflow aims to overcome these challenges, enabling advanced genetic editing while preserving cell functionality and supporting streamlined workflows.

Both companies will be attending the J.P. Morgan Healthcare Conference this month from January 13-16th. Details on where to partner with the companies at the conference can be found below, along with contact information for both companies.

Partner with CellFE at the JP Morgan Healthcare Conference:

J.P. Morgan Healthcare Conference – Jan 13-16
Westin St. Francis in San Francisco, CABiotech Showcase – Jan 13-15
Hilton Union Square, San Francisco, CABio Partnering at JPMorgan Week – Jan 13-16
San Francisco Marriott Marquis in San Francisco, CA
cellfebiotech.com/meet

Partner with Syenex at the JP Morgan Healthcare Conference:

Bio Partnering at JPMorgan Week – Jan 13-16
San Francisco Marriott Marquis in San Francisco, CA
syenex.com/meet

About CellFE Biotech
CellFE, a cutting-edge microfluidics company, is transforming the development and manufacturing of lifesaving cell therapies to make them more accessible to patients. CellFE aims to unlock the full potential of this transformative modality by tackling its key market challenges, notably high manufacturing costs and extended vein-to-vein timelines. With a focus on T-Cell, HSC, and iPSC-based therapies, CellFE’s microfluidics-based gene-delivery technology, in conjunction with proprietary best-in-class workflows, targets critical bottlenecks in cell therapy manufacturing. For more information, please visit www.cellfebiotech.com.

About Syenex
Syenex builds bioengineering technologies to unlock the future of human health. Leveraging the power of synthetic biology, we design scalable, precision-engineered gene delivery vectors, empowering cell and gene therapy developers to cure disease and build the next generation of medicines. Designed to break the barriers that slow medical progress, our Open Science model ensures global access to our expanding toolkit and a network of scale-up partners, accelerating the path of breakthroughs from idea to impact for all of academia and biopharma. Since 2022, Syenex has rapidly built a portfolio of cell-specific bioengineering systems and established partnerships across the fields of immune cell, stem cell, and hepatocyte engineering. Learn more and get started at www.syenex.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cellfe-and-syenex-collaborate-to-advance-cell-engineering-with-hybrid-gene-editing-workflow-302347122.html

SOURCE CellFE

Continue Reading

Technology

The TreppWire Podcast Celebrates 300th Episode with Strategic Rebrand and Enhanced Vision

Published

on

By

Trepp announced today a rebrand and enhanced vision for The TreppWire Podcast ahead of its milestone 300th episode.

NEW YORK, Jan. 9, 2025 /PRNewswire-PRWeb/ — Trepp, a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate (CRE), and banking markets announced today a rebrand and enhanced vision for The TreppWire Podcast ahead of its milestone 300th episode.  

“Powered by our marketing, research, and product groups, this show has been a trusted resource for the commercial real estate community, and we are excited to continue its growth,” said Hayley Keen, VP, Head of Marketing.

Since its launch in 2020, The TreppWire Podcast has garnered more than 1.7 million listens, establishing itself as a leading voice in the CRE industry, as well as the structured finance, banking, and broader economic markets. The podcast leverages Trepp’s proprietary commercial property, loan, and financial data and deep market expertise to provide weekly insights to industry professionals.

Complemented by a sleek new visual identity and modern design aesthetic, this strategic rebrand builds upon Trepp’s 40-year legacy of delivering timely, accurate, and comprehensive specialized CRE data and insights to help listeners make better, more informed decisions. Through market cycles, volatility, and periods of growth, The TreppWire Podcast remains committed to uncovering both challenges and opportunities, providing listeners with actionable insights to navigate market dynamics.

The rebrand also introduces an elevated format, which will include frequent industry expert guest appearances, as well as exclusive macroeconomic commentary from Trepp’s newly appointed Chief Economist, Rachel Szymanski. The podcast will continue to be a go-to resource for market participants, delivering timely insights from diverse industry perspectives.

“It is so exciting to watch our podcast hit the 300th episode milestone. Powered by our marketing, research, and product groups, this show has been a trusted resource for the commercial real estate community, and we are excited to continue its growth,” said Hayley Keen, VP, Head of Marketing. “The market has trusted Trepp’s data for more than 40 years, and with this rebrand, we’re not just maintaining that commitment – we’re elevating it. We’re enhancing the podcast experience while staying true to what our audience has always trusted us for: delivering reliable, actionable market intelligence that helps them make informed, confident decisions.”

Listeners can tune in to the newly rebranded The TreppWire Podcast on all major podcast platforms, including Apple Podcasts, Spotify, SoundCloud, and YouTube. Weekly episodes are released every Thursday. Check out our new website to learn more: https://www.trepp.com/the-treppwire-podcast

About Trepp 
Trepp, founded in 1979, is the leading provider of data, insights, and technology solutions to the structured finance, commercial real estate, and banking markets. Trepp provides primary and secondary market participants with the solutions and analytics they need to increase operational efficiencies, information transparency, and investment performance. From its offices in New York, Dallas, and London, Trepp serves its clients with products and services to support trading, research, risk management, surveillance, and portfolio management. Trepp subsidiary, Commercial Real Estate Direct, is a daily news source covering the commercial real estate capital markets. Trepp is owned by the Daily Mail and General Trust (DMGT)

Media Contact

Ennys Soydas, Trepp, Inc., 212-754-1010, press@trepp.com, www.trepp.com

Twitter

View original content to download multimedia:https://www.prweb.com/releases/the-treppwire-podcast-celebrates-300th-episode-with-strategic-rebrand-and-enhanced-vision-302346930.html

SOURCE Trepp, Inc.

Continue Reading

Trending