HCL Technologies
Benefit Administration for a Leading Insurance and Financial Services Provider
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