Success Stories
Dynamic Questionnaire Tool
Customer
The customer is one of the leading Life Insurers offering a comprehensive portfolio of Life Insurance and Annuity products, including Universal Life, Variable Life, Term life, fixed and variable annuities and a variety of equity products.
Business Context
All insurance companies in the United States need to abide by the State Rules for business, in all the States they operate. Companies are audited periodically by various insurance regulatory authorities (for example, NAIC - National Association for the Insurance Commissioners, some state specific insurance regulatory authorities, etc.) on various parameters of regulatory compliances for different functional areas (like policy issue, policy administration, claims administration, agents' licenses, etc.)
Solution Objectives
Since HCL has a wide perspective of the various IT applications that cater to the above functional areas, the objective was to use HCL's expertise for providing accurate data for the audits in a timely fashion.
Solution Approach
Develop components for data extraction that are highly reusable with minimal customization.
Benefits
The main benefit that HCL provides to the customer is that with its well-defined processes, it has been able to deliver, within tight deadlines, accurate data that is mission critical to the customer's business. With every audits of repetitive nature, HCL shows improvement in the turnaround time.
