Sales and Distribution
HCL’s micro vertical approach ensures a meaningful, best in class solution to meet the business requirements of insurance companies. Our unique approach helps us leverage our deep domain expertise, extensive product partnerships and in-house IP based product offerings to provide effective solution to customer needs. HCL has executed large projects in the sales and distribution space which span across Life and P&C Insurance.
HCL offers a broad range of solutions in distribution and channel management – from full project ownership to providing critical solution accelerators. HCL offerings in distribution space gets further strengthened by its newly developed web-based front-end extranet solution, Insureface that connects the P&C Insurance carriers with their users at enterprise level. The solution enables the carrier agents with centralized access to all of the business information, service applications and tools that they need in order to conduct business in the most efficient and simplest manner possible.
Channel Automation (Life and P&C)
HCL’s channel automation is a versatile offering that acts as a “Single point of Entry” for the entire client servicing as well as self servicing needs of a Producer. Breadth of functionality offered by our solution necessitates a business transformation from a series of hand-offs to an end to end customer servicing at the point of sale.
Channel Automation - Key Modules
Client Servicing- New Business Management
- Policy bind and Issuance
- Policy Servicing
- Renewal Processing
- Claims Submission and Status Check
- Premium Billing and Collection
- Enquiry Services
- Sales Support (Marketing and Product Information)
- Lead Management
- Commissions Management
- Client Management
Built on a SOA Architecture, it provides a single unified view of the customer’s various relationships with the insurance carrier. The Solution aims at transforming your technological environment from a stand alone, poorly integrated system to a highly Service Oriented Environment.
With data quality services, strong integration support and Security architecture in place, it provides Multi Channel, Multi Product, Multi lingual and Multi Currency support from a single interface.
HCL’s "Channel Automation" solution automates the entire client and self servicing requirements of a Producer that can be completed anytime, anywhere. HCL’s strategy of turning business challenges into business advantages in the specific domain has proved its competence in the space. The following are the key factors in the distribution environment:
- Speed – Automation, turnaround time, downloading
- Reach – Anywhere access, synchronization
- Flexibility – White labeling, partner-specific experience, customizability
- Single Truth - Ties all customer activities to customer level P&L
- Customer Experience – Identifies customer preferences; do what-if analysis
- Predictive Analytics – Ties risk factors, customer info and financials into profit management capability
- Market intelligence – Anticipates market changes via customer activity and demographics
- Shorter time to market – Configures and releases new products easily
- Self service benefits – Fewer phone calls
- E-Portal Distribution of policies, marketing and risk management information
- New Products – Business rules driven
