RAMP Global and IIISLA Collaborate to Digitize and Revolutionize Automotive Insurance Claim Reporting & Management in India

RAMP Global and IIISLA Collaborate to Digitize and Revolutionize Automotive Insurance Claim Reporting & Management in India05th August 2023: RAMP Global and the Indian Institute of Insurance Surveyors & Loss Assessors (IIISLA), promoted by IRDAI, in its efforts to establish a system of providing justified insurance claim services to the policyholders and insurers, proudly announced the signing of a trailblazing exclusive agreement, marking a pivotal point in insurance claim reporting and management. 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, a vanguard in the automotive aftermarket industry, is set to bring a groundbreaking solution to India’s insurance sector. Through the synergy of RAMP’s innovative technology and IIISLA’s robust network, insurers, policyholders, service centres, and surveyors across the nation will now experience a swift, transparent, and precise claim handling process — translating into 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 labor rate scheduling on a PAN India level.

Ashok Kumar, Director & CEO, and Lalit Gupta, President of IIISLA, expressed their optimism regarding this landmark collaboration. “Our alliance with RAMP Global signifies a watershed moment for IIISLA and the entire insurance landscape. Their unparalleled expertise in digitizing crucial workshop and fleet administration tasks will be pivotal for our platform. 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,” said the duo.

Amit Kumar, Co-Founder & CEO of RAMP Global, shared, “In every industry, there comes a moment when the existing paradigm is challenged when the status quo gives way to the extraordinary when innovation creates a tectonic shift. Today, we are at the precipice of such a moment in the insurance industry. At RAMP, we have always been inspired by the seemingly impossible and driven by the audacity of what’s achievable. This partnership with IIISLA is more than a collaboration; it’s the ignition of a digital revolution in insurance claim reporting and management. We are not just building a platform; we are creating a world where technology becomes the torchbearer for transparency, efficiency, and customer-centricity. Where insurers don’t just interact with policyholders, but connect. A world where we set a new standard for others to aspire to. This is our vision, this is our mission, and together with IIISLA, we are making it a reality.”

The technology deployment for this endeavor will be facilitated by VMax, a Platinum partner for RAMP. Vishal Manchala, Director of V-Max E- Solution India PVT Limited, stated, “We are thrilled to collaborate with RAMP, whose cutting-edge tools will automate and standardize the entire claim reporting and survey management process. We are committed to ensuring IIISLA’s requirements are incorporated into the solution, making a significant impact on stakeholders such as workshop owners, insurers, and insured.”

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