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Industry

Insurance

Use Case

IT & Operations

Finance

HR

Business

Marketing

Features Used

Excel Upload, Reviewer

Automated Workflows

Signature Verifier

Bharat Stamp

Bharat Sign
(Aadhaar eSign, DSC sign)

Tata AIG General Insurance Company Limited is a joint venture company between Tata Group and American International Group (AIG). In 2020, Tata AIG celebrated the completion of 20 years of service in India.

The Company has several pioneering firsts to its credit. It offers a comprehensive range of general insurance products for businesses and individuals.

Tata AIG is strongly working on its strategic initiative called ‘Go Digital’ that facilitates ease of buying Insurance products in the digital world. It makes the process from sale to policy issuance effortless.

The Paper Challenge

TATA AIG had a completely physical process for getting all their documentation done. The document initiator would print the document, procure stamp papers, get agreements franked, and then courier them to other signatories across India and the world. They would then keep tracking it until it reaches TATA AIG's office for their final signature.  

This physical agreement process had obvious issues:
TATA AIG Graphics
  • Very High TAT - took 2 weeks to get a document executed.
  • Valuable man-hours were lost just to keep track of all agreements.
  • It was prone to mistakes as people would sometimes sign/not sign in incorrect/correct places.
  • Printing, Stationery and Storage Costs added to the execution costs.
Sunil Khichar profile
TATA AIG Logo
Signatures used to take 10 working days to two weeks. So  after the agreement is closed, you tell the opposite party, “you're supposed to print, you're supposed to pay stamp duty.” Then they'll go around hunting for stamp papers and pay stamp duty. They'll do the printing, they'll take signature, and that will be couriered and will be sent across to us. Then you take signatures from your own signing authority. The best-case scenario is two weeks. Nothing less than this
Sunil Khichar, DVP
Legal & Secretarial, TATA AIG General Insurance
TATA AIG Graphics

Solution

Having faced these challenges, TATA AIG decided to kill the problem at its core and decided to make the entire process paperless.

On this mission, they onboarded an e-sign and e-stamping solution in 2020. Now, they just needed to upload the document and send a signing link to the signers. Signers can sign it from anywhere, anytime. This transformation solved a lot of problems that arose due to a physical process.

This physical agreement process had obvious issues:

  • Very High TAT - took 2 weeks to get a document executed.
  • Valuable man-hours were lost just to keep track of all agreements.
  • It was prone to mistakes as people would sometimes sign/not sign in incorrect/correct places.
  • Printing, Stationery and Storage Costs added to the execution costs.
ASK Logo
TATA AIG Logo
It was not user-friendly. Different signers had to make an account, then they get it verified. And if they're not able to do the account system account verification, then we have to wait again for few days to get their accounts verified. So it was creating a problem. It was taking a lot of time. It was supposed to be easy and simple and quick. But in reality, it was taking more time. So that's why we wanted to switch to a different simple solution.
Jyotsna H., Deputy Manager
Legal & Secretarial, TATA AIG General Insurance
Sunil Khichar profile
TATA AIG Logo
They had DSC and equivalent to DSC. For them, if you don't have the DSC dongle, you have to go with that other option where you have to do the video KYC. They don’t have the option of Aadhaar eSign.
Sunil Khichar, DVP
Legal & Secretarial, TATA AIG General Insurance

The Paper Challenge

Finally, Within just one year of usage, TATA AIG decided to switch and onboarded Leegality as their digital documentation partner.

TATA AIG not only solved the paper problem but also solved the problem that arose due to the tool used earlier.
TATA AIG Graphics
  • No need to create new accounts just to sign
  • No need to go through long video KYC if you don't have a DSC Dongle - simply use Aadhaar eSign
  • Send out 1000s of agreements in an instant via Leegality's excel upload feature
  • It was prone to mistakes as people would sometimes sign/not sign in incorrect/correct places.
  • Printing, Stationery and Storage Costs added to the execution costs.
ASK Logo
TATA AIG Logo
Few of our signers are using the bulk sign option. They are signing 1000 to 2000 to 5000 agreements on a weekly basis. So this has helped to make it quicker

Now we have a few agreements which are in standard format and saved as templates in Leegality. So we have different people who are trained to just initiate [the signing journey] using the stamp papers. Just 2-3 clicks and they're good to go. And they just add a few details which are required and then send it across.
Jyotsna H., Deputy Manager
Legal & Secretarial, TATA AIG General Insurance

Business Impact

TATA AIG Graphics
Paperwork now takes at the most half a day instead of 2 weeks
TATA AIG Graphics
A significant drop in loss of man-days due to digital document execution
TATA AIG Graphics
No more physical stamp paper procurement hassles
TATA AIG Graphics
Productivity and work-life balance of their teams have improved significantly
TATA AIG Graphics
Printing, Stationery and Storage Costs have been reduced drastically
ASK Logo
TATA AIG Logo
Of course, since we are not giving much time to the agreement part, we can focus on other departmental work, like review other agreements, all those things
Jyotsna H., Deputy Manager
Legal & Secretarial, TATA AIG General Insurance
Sunil Khichar profile
TATA AIG Logo
In a digital scenario, what do you do? You have control. You simply turn it into PDF, upload it in the tool, it goes to the opposite party. You have a track. Simple. Many of the times it is signed in half a day. You don't have to bother
Sunil Khichar, DVP
Legal & Secretarial, TATA AIG General Insurance

Don’t take our word for it - read our full interview DVP -
Legal & Secretarial and Deputy Manager - Legal & Secretarial at TATA AIG

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