HCL consolidated the Client’s IT Operations Through Successful Transition of AD/ASM Services on Legacy Platforms Comprising of 32+ Applications In a Short Period of Time along with Consolidating Operations from Two Locations to One Location and Provided Opportunity for Process Rationalization

1. How HCL Helped Leading Financial Services Firm to Enhance its
Efficiency and Boost Business by 15%
Efficiently
Underwritten

2. • Underwriters Spent More Time to Approve New
Businesses that Were Referred Back by the
Automated Underwriter Application
• The Application Handled Only Cyber life Policies.
Vantage New Businesses Were Underwritten
Manually
• Some Features Like Motor Vehicle Reports, Child
Riders Were Manual
The Potholes

3. • Implemented “Accelerated Underwriting” to
Handle Cases Referred Back by the
Application
• Enabled Automatic Approval of New Business
from Vantage
• Enabled Automatic Processing for Child
Riders and Motor Vehicle Reports
• Regulatory Compliance Changes
Levelling the Road

4. • “Accelerated Underwriting” Helped
Underwriters Approve 5,170 More Cases
Quarterly
• With The Child Rider Attachment, The
Application Was Able to Approve
Approximately 1,761 More Cases Annually
• Approval Rate Increased from 25% to 40%
• Manual Processing Time Reduced to 2
Seconds from Approximately 5 Minutes 15
Seconds
• Increased Efficiency by Incorporating
Regulatory Compliance Changes
A Smoother Drive

5. • Why insurance companies need to
have swift underwriting processes?
• How faster approval affects overall
efficiency of insurance business?
• Why regulatory compliance is
complicated, particularly for
insurance companies?
• How partners like HCL can help you
in effectively optimizing the
business?
Questions
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6. Copyright © 2014 HCL Technologies Limited | www.hcltech.com6

7. Copyright © 2014 HCL Technologies Limited | www.hcltech.com6