Surround Systems | HCLTech

HCLTech Surround Systems

HCLTech provides point solutions as well as end-to-end business transformation offerings to enable optimization of current models, while enabling newer ones. HCLTech surround system offerings address enterprise initiatives around data and analytics, architecture and information gathering, providing foundation elements to enhance loss mitigation, improved profiling/segmentation, decision insights, and risk assessment.

Business situation

Surround systems: Opportunities to seize

$6.29 T

World life and non-life insurance DWP - 2019

14.1%

Acquisition, field supervision, general expenses for underwriting US P&C carriers - 2019

$762.1B

Benefits and claims by life, annuity, benefits, and payouts by US carriers – 2019

11%

Defense, cost containment, and adjustment expenses as % of net premiums US P&C carriers - 2019

Enabling improved loss mitigation, risk assessment, and focus beyond insurance using real-time data, insights, and surround services

HCLTech solution

Collaterals

Blogs

Blogs

White Papers

White Papers

 

Success Stories

Microservices to support internal and external applications
Microservices to support internal and external applications

For a Leading Netherlands based insurer

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Objective

The insurer had large number of internal and external applications, requiring data from multiple legacy back-end systems. A data lake was created, comprising of data from all administration systems and insurer wanted to expose this data from data as micro services for all applications consuming data from back-end systems.

HCLTech Solution
  • Built Micro services using Node.Js functions which are run on AWS Lambda functions to fetch data from dynamo db, MQservices
  • Reusable patterns for API development made to simplify and standardize the API development
Key Benefits Delivered
  • Increased performance of applications
  • 300 micro-services built to support both Internal and External applications
  • Benefits in publishing data across portals, web applications, process flows
  • Respective teams able to build micro services using the created patterns
Behavioral analytics and customer move prediction
Behavioral analytics and customer move prediction

For a Fortune 200 customer

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Objective

The insurance company wanted to use Data Analytics to understand consumer behavior, to better anticipate customer needs and provide appropriate product offerings in order to negate low product penetration within existing customers, poor response and acquisition rates, high campaign cost and low number of potential lead identification.

HCLTech Solution
  • Exploratory Data Analysis and Hypothesis Testing to identity effective channel for targeting.
  • Analyze historical campaign data to estimate optimum number of campaigns per member and identify appropriate interval between campaigns.
  • Harvest feeds from social to identify customers and map them into internal information
Key Benefits Delivered
  • 1.5x Increase in number of members
  • 40% increase in acquisition rates, 6+ co-promoted products in risk/ rewards
  • Increased market penetration from 0.1% to 7%, 25% improvement in cross sell
  • Marketing effectiveness, 35% decrease in mail volumes, 23% savings on $6.6M base cost
Migration to cloud enabled data warehouse platform
Migration to cloud enabled data warehouse platform

For a Fortune 200 customer

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Objective

As part of Modernization journey, customer is adopting to cloud-based, open source and software-as-a service offerings to improve member experience, optimize cost, and enhance analytical performances.

HCLTech Solution
  • Data reconciliation between legacy and new platform during migration
  • Data reconciliation between different stages of data movement
  • Metadata capture and lineage establishment across different layers
  • Dashboards (current and historical) a view of current state as well as past states
Key Benefits Delivered
  • Compare millions of rows of data in less than 10 minutes
  • Supports different relational & multi-dimensional DB
  • Intelligence Driven Meta Data capture, processing and Correlation