Benefit Administration for a Leading Insurance and Financial Services Provider

Client Information

A large U.S. multinational that provides a broad range of insurance and financial services

Business Challenges

• Non-standardized processes
• HR processes were non responsive to the changing business environment
• High HR operating costs associated with employee turnover; resources required to maintain SLAs
• Challenges associated with disaster recovery and information security planning
• Limited talent available at the client's location(s)

HCL Solution

• 100% quality control by deploying a maker/checker approach to improve the accuracy of highly critical processes
• Regular reconciliations and review of reject/warning logs by account analysts to resolve errors
• Integrated process framework to align all organizational processes with the client's expectations

Value Delivered

• Reduced cost of operations by 45%
• Reduced avoidable errors by 78%
• Industrialized processes through 6-Sigma and LEAN interventions
• Streamlined payroll processing function and efficient process delivery – reducing payroll delays/adjustments by 62%
• Scalable and replicable processes to allow better management of seasonal volume spikes by 30%
• Integrated global service delivery management – integrated DRP and security implementation
• Global information analytics framework for on demand decision making