Pensions & Annuities
The pension and annuities industry is changing with the advent of new technologies on disparate IT systems, resulting in elevated support costs, high compliance risk issues, and a duplication of functionalities. The transformation is driven by factors such as technology support to channels, integration of back-office processes, replacement of legacy systems and inclusion of SOA, web services, and straight through processing (STP). In order to remain competitive, companies need to rationalize their IT strategy around pension services and leverage the full potential of their technology investments to decrease time-to-market for new products while extending their platforms across new age policy holder and producer channels.
With over 15 years of experience in delivering large and complex platform transformations in the pension and annuities space, HCLTech successfully caters to multiple domains such as Product & Marketing, Policy Administration & Claims, End-to-end Operations, and Customer Experience Management through -.
- Enabling faster go-to-market and insights into existing product performance that facilitates quicker product launches
- Simplifying operations through policy administration system migration and consolidation
- Reducing cost and improving back-office function efficiency
- Providing a multi-channel integration network that gives customers and channels the benefit of self-service
HCLTech is the only company in the world to win the prestigious “LOMA Education Excellence Award” eight times. Thanks to a dedicated team of more than 1000 certified SMEs, our platform capabilities in CSC, Amarta, homegrown mainframes and other systems has helped us convert and migrate more than 10 million policies, manage over 3 million policies, and keep track of customer billing records with success. Additionally, HCLTech is the single sourcing partner for the world’s top two listed life insurers and recognized among the top five BPO companies in the UK administered closed book operation.