MUMBAI, India - Teradata, a division of NCR Corporation (NYSE: NCR), announced today that it is providing data warehousing solutions to Life Insurance Corporation (LIC) of India. Called the Corporate Active Data Warehouse (CADW), the 60-terabyte solution, implemented in 2004, is the largest data warehouse project of its kind in India. The CADW will cater to business volumes larger than 160 million insurance policies of 130 million policyholders with large volumes of cash transactions per day.
With more than 24.5 million policies sold every year, LIC is one of the largest life insurance companies in the world. The TeradataÂ® Warehouse will enable LIC to understand various usage profiles of the customers and policies in order to customise offerings and bundles and effectively manage them.
"Being the largest life insurance company in India, LIC is constantly evolving its offerings to best suit the changing needs of its customers. We envisage Teradata's data warehousing solutions will empower LIC with tremendous analytical capabilities and help in designing customer-oriented insurance products," said T. S. Vijayan, managing director of LIC.
"In Asia, Teradata's data warehouse and powerful analytical applications are widely accepted within the banking and telecommunications industries. Its coveted association with the Life Insurance Corporation of India only reinforces its commitment to India from both a global and domestic perspective. The implementation of Teradata's data warehouse will boost LIC's competitive edge and help increase the company's prospective customer base," said Amrish Rau, general manager of Teradata in India.