“We chose HCL as a strategic partner for their deep SAP technical expertise, their rigorous implementation methodology, and their skills in process optimization and change management.
- IT Director, Britvic PLC
Insurance
Insurance Industry Challenges
The global insurance industry is currently facing an unparalleled set of challenges. Aside from the well-publicized monetary issues, the market has become increasingly competitive, the customer less forgiving and the regulatory environment far more demanding.
To thrive in this environment, insurers need to be able to efficiently develop products that can quickly satisfy their customers while building longer-term and therefore more profitable customer engagements. They need to optimize both internal and external innovation while seeking operational excellence at all levels with an enhanced level of insight into the performance of their business.
Moreover, most insurers are struggling to cope with ageing and inflexible system environments which are difficult (and expensive) to integrate across functional silos, and which inhibit the transformation needed to meet these business challenges.
Meeting the Challenge
HCL believes that the industry will move towards more open enterprise platforms based upon service-oriented architectures (SOA) with integrated support for insurance operations (sales, underwriting, policy administration, claims administration, etc.), enterprise management (accounting, investments, human resources, procurement, etc.) and analytics (enterprise risk, performance management, actuarial analysis, fraud prediction, etc.).The HCL proposition for insurance is based upon delivering real business benefits by aligning applications and enterprise-level services with a company’s business architecture.
HCL’s Insurance practice blends an unrivalled depth and breadth of specific industry knowledge in the insurance industry together with a rich set of core capabilities in Business Consultancy, Systems Integration and Applications Management. The practice is wholly focused upon the future of the insurance industry across personal and commercial lines, life and annuity, and reinsurance, with a particular focus on the alignment of appropriate Packaged ERP solutions to meet the needs of our clients in those industries.