Property & Casualty
HCL has pioneered some of the current trends among insurers and insurance companies. The chief among them are: laying stress on the overall customer experience and saving on customer retention costs, reducing associated processes thereby reducing claim costs, controlling the underwriting leakage, organizing and increasing the efficiency of processes, and finally focusing on product cross-and-up selling with the help of brokers and other networks.
In order to achieve increased profitability, flexibility, cost optimization, and enhanced customer experience, the emphasis must be on underwriting. Insurers are therefore working towards creating specialized technology for insurance business analytics, apart from allocating amounts for underwriting and claims.
Through its expense management and directing programs, HCL has worked with over 50 insurers worldwide. HCL has successfully provided them with transformational and cost optimized IT services. Apart from that, it has also offered services for management initiatives, policy admin system rationalization and consolidation, sales and distribution, automation initiatives, and platform development.
HCL has been serving business analysts dedicatedly for a decade through its Business Analyst Academy (BAA). By providing technology solutions across the P&C landscape, it has formed partnerships with other leading solution providers such as GuideWire, SAP, Oracle, Prima, SFS, CSC, Filenet, and others. Due to IPs solution accelerators like InsureWrite, InsureFace, Insurance Policy Migration Tool, Insurance CXO Dashboard, Web Portal Maturity Framework, and Package Implementation Toolkit, HCL has won the Excellence in Education Award from LOMA for six consecutive years.