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How HCL Helped Leading Financial Services Firm to Enhance its
Efficiency and Boost Business by 15%
Efficiently
Underwritten
• Underwriters Spent More Time to Approve New
Businesses that Were Referred Back by the
Automated Underwriter Application
...
• Implemented “Accelerated Underwriting” to
Handle Cases Referred Back by the
Application
• Enabled Automatic Approval of ...
• “Accelerated Underwriting” Helped
Underwriters Approve 5,170 More Cases
Quarterly
• With The Child Rider Attachment, The...
• Why insurance companies need to
have swift underwriting processes?
• How faster approval affects overall
efficiency of i...
Copyright © 2014 HCL Technologies Limited | www.hcltech.com6
Copyright © 2014 HCL Technologies Limited | www.hcltech.com6
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Driving Underwriting Efficiency for a US based Integrated Financial Service Provider

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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

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Driving Underwriting Efficiency for a US based Integrated Financial Service Provider

  1. 1. How HCL Helped Leading Financial Services Firm to Enhance its Efficiency and Boost Business by 15% Efficiently Underwritten
  2. 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. 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. 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. 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 Click here to download the Document
  6. 6. Copyright © 2014 HCL Technologies Limited | www.hcltech.com6
  7. 7. Copyright © 2014 HCL Technologies Limited | www.hcltech.com6

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