“We chose HCL as a strategic partner to help us manage our existing applications and implement new technologies. HCL has been responsive to the needs of the IT group and our customers, and has been committed to delivering high-quality services with a level of flexibility required by our business."
Claims Management is a key area of focus within HCL's Insurance Practice. HCL's experience with Claims systems spans across both Life and Non-Life Insurance.
HCL's Claims Management Solution consists of five components:
- Building a Business Transformation Case
- Coming up with a Transformation Roadmap
- Recommending Solution Options and Helping our client make a “build vs. buy” decision
- Solution Implementation
- Running Claims Operations
- Business Process Improvements and Optimization
- Systems/ Applications Outsourcing
The HCL Claims Efficiency Hub
HCL's claims management solution combines our expertise in claims management software implementation with the capability to build custom solutions based on SOA architecture. The Claims efficiency Hub is powered by dedicated Insurance Solutions Development Center (ISDC) with resources trained in the Insurance domain and insurance technology.
HCL's Claims Efficiency Hub - Advantages
- Reduced claims systems cost due to application integration, remediation of gross system inefficiencies and consolidation of multiple claims systems aiding in predictive loss management information which is collated accurately and efficiently after assimilation and conversion
- Accurately and efficiently moves claim data to carrier management information systems, actuarial data bases, policy administration and underwriting decision support systems, general ledger/ treasury systems
- Better Management of Loss adjustments and claims leakages due to process gaps, inaccessible data and lack of predictive analytics capability are reduced
- Improved customer satisfaction due to system speed and reliability thus accelerating cycle times for first notice to settlement in response to a claimant
- Appropriate response to new products coverage and endorsements
HCL's Claims Management Functional Expertise
- Claims process and system requirement definitions and gap analysis
- Claims Transformation - Business case development and validation
- Domain experience in conducting process redesign and engineering
- Claims functional process repository (Process maps) and best practices
HCL's Claims Management Technical Experise
- Assistance with Claims vendor selection process
- Implementation Expertise around market leading P&C claims packages – Guidewire, Valley Oak Systems
- Proprietary solution accelerators for Claims package implementation (Integration, Reporting, Data Conversion)
- Internal Claims custom solution development using SOA architecture by leveraging legacy assets (Build)
- Futuristic solutions to reduce Claims Fraud by developing claims Predictive Modeling solutions
HCL's Claims Product expertise
HCL's expertise in claims management is further strengthened by its partnership with Guidewire. Guidewire Software is a leading provider of claims solutions to property and casualty insurers. ClaimCenter(CC) is the leading flagship product of Guidewire and is a web-based claims system for all lines of business. This system has been designed and built entirely in Java and conforms to the J2EE standard.