Today, insurers face daunting challenges in relation to workforce productivity and market competition. To stay ahead, they need an insurance consultant to reduce their product launch cycle timelines, enhance customer experiences, and detect and prevent frauds faster. Additionally, they must expedite insurance claims management and adhere to risk and regulatory norms to avoid paying penalties.
HCL combines in-depth knowledge, extensive insurance industry experience, domain competency, and technologies, as well as proprietary tools, methodologies, and frameworks, with a value creation model. This helps global and regional insurance leaders to profitably improve their business with a focus on core system transformations. This includes segments such as policy administration, underwriting, and claims, and investments in high-end forecasting and analytics.
HCL offers insurance software services and business-aligned technology solutions that empower insurers with business growth, increased profitability, cost optimization, agility, and flexibility while ensuring a superior customer experience.
Also, we deploy smart insurance software solutions that combine agile methodologies and tools such as PlayField™ to help insurers achieve business goals.
HCL actions transformative insurance solutions through the following:
- A unique Business-Aligned IT (BAIT) approach that includes an integrated suite of insurance IT systems to provide best-fit insurance solutions while considering the associated impacts
- A strategic partnership that improves clients’ performance while significantly containing costs
- Centers of Excellence (CoE) to develop partner product expertise and collaborate with customers to proactively identify specific products/applications/technologies requirements
- Robust insurance solutions: Assessment tools and omnichannel frameworks to facilitate knowledge exchange and improve scalability
- Efficient insurance services: Intelligent thought leadership via a complete set of propositions, covering end-to-end digital needs of today’s global insurance enterprises
- Insurance solutions embedded with HCL’s core DNA: An outstanding ‘Ideapreneurship’ culture that enables employees to focus on value creation
HCL’s insurance services have garnered industry-wide recognition with over 200 clients successfully served in 31 countries. Not only efficiently completing business critical projects, HCL has also been awarded for "Excellence in Insurance Education" by LOMA for the 8th time. Our insurance software solutions have received Gartner’s highest rating of “Mature” in delivering ITO services to both Life Insurance and P&C Insurance customers.
InsureWrite is an SOA-based commercial lines policy administration tool that automates the entire underwriting process, allowing insurance carriers to consolidate multiple administration platforms across their entire business. The highly competitive landscape of Property and Casualty (P&C) insurance has made it difficult for carriers to maintain an edge by continuing their core operations — such as ratings, quoting, underwriting, policy issue, and administration — with legacy system support. Insurance carriers who fail to address their aging policy administration systems are struggling to adapt to changes in the business environment, or to build and deliver products/services quickly, accurately, and cost-effectively. HCL’s Penstock InsureWrite effectively addresses all these challenges.
InsureFace is a web-based front-end extranet agency portal that connects PC Insurance carriers with their users at enterprise level. The solution provides the carrier agents with centralized access to all the business information, service applications, and tools required to conduct business in the most efficient and simplest manner possible.
FinEdge™ Insurance CRM solution has been specifically designed to help insurers achieve profit and realize their growth goals. Based on Microsoft Dynamics CRM, SharePoint, and other Microsoft products, the solution is the culmination of extensive development and input from insurance companies, industry analysts, and researchers around the world. It enhances customer experience by providing sales, marketing, and service delivery functions with innovative features. The solution enables a 360-degree customer view and leads to automation of campaigns as well as effective management and tracking of multi-channel fulfilments, and reporting engine.
HCL AXON iNSPiRE is an end-to-end insurance solution configured (not coded) on the world’s most utilized business application platform. The solution, based on the most recent releases of SAP CRM, ECC, and BI continues to evolve, encompassing ‘model’ insurance organizations with associated end-to-end processes. This asset is available as a ‘proof of concept’ solution for HCL AXON clients to model their future processes, accelerate product configuration, and/or to assist with fit-gap analysis. This asset is also open to enhancement by partners. HCL AXON is able to provide demonstrations to customers of complete end-to-end processes (e.g. for Insurance: from the initial quote to the issuance of a policy and the handling of a claim against that bound coverage).
PlayField™ is a tool which seeks to remove distortions and gaps in business understanding and technology alignment.
HCL’s Channel Automation solution empowers producers to automate end-to-end requirements, round-the clock from any location. Channel Automation is a versatile offering that acts as a single point of entry for both client servicing and producer self-servicing requirements. The breadth of functionality offered by our solution facilitates business transformation, providing multi-channel, multi-product, multi-lingual, and multi-currency support from a single interface. HCL’s strategy of turning business challenges into business advantages in the specific domain has proved its competence in this space.
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ECOSYSTEM OF PARTNERS
Our partnerships bring the relevant technology, industry and domain knowledge together with tested products, presenting a complete solution for our customers. Collaborating with our partners, HCL augments and supports all solution and technology requirements, ensuring delivery of the best results.