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About Client

The Client is one of the prominent insurance firms with operations in the US. They wanted to support their growing business and emerge as a challenger brand in the insurance market across the world but felt limited by a legacy mainframe-based system.

BUSINESS SITUATION

They wished to deploy a core enterprise-wide transformation solution that would help them bring new products to the market quickly, be more scalable and at the same time be more efficient.

Eclature implemented the enterprise-wide transformation solution (Infrastructure-as-a-Service) on TCS BaNCS insurance platform that provided the client with a robust core processing engine that offered multiple benefits such as reduced cost of operation, enhanced customer experience, and simplified operational environment among others. With this solution, the client was able to save critical time servicing customer needs leading to a signifi¬cant increase in productivity.

THE CHALLENGES

Eclature carried out an extensive study of the client’s business processes to find the pain-points and problems before starting the implementation. Deploying Eclature’s Enterprise Simplification solution based on TCS BαNCS platform has provided the client with the tools they needed to transform over 4.5 million policies of 6 million customers by filling serious gaps that were present in the management system and bringing a reduction of 45% in operational costs.

From the outset, the size and complexity of the enterprise simplification program management have presented the implementation and management teams of Eclature with a number of challenges. The key challenges encountered in an enterprise-wide program tasked with transforming the operational infrastructure to fuel growth and reduce the risk

For one of US’s largest insurance providers are:

  • Present the data in a format that provided managers with the key information.
  • Interaction with factors external to the simplification program.
  • Integrate processes, streamline operations and improve agility and connectivity associated with transforming the operational infrastructure.
  • Reduction in costs and driving efficiencies within the organization.
  • Operational implications of a decision that has a program ROI impact.
  • Organize transformation schedule such that the activities yield the biggest cost reductions.
  • Enterprise simplification effectiveness and efficiency to achieve peak performance.

Through its business engagement, Eclature has delivered the following results that were derived from the impact of the enterprise-wide transformation solution based on TCS BaNCS insurance platform for the client:

  • Reduced and managed cost of operation on Closed Book
  • Enhanced customer experience and retention
  • Simplified operational environment to fuel growth and reduce risk

OUR APPROACH AND SOLUTION

Eclature has enabled the insurance organization to re-imagine their business and transform their insurance operations.
The client needed to become more engaged with its customers and deliver the highest level of personalization possible. Therefore, keeping in line with the client’s vision, we focused on the customers’ pain points to determine where we can invest our value-additions and forward-looking capabilities that drive business growth for the client.

Eclature proposed the following key deliverables/solutions:

  • Enterprise-wide transformation (Workflow, applications, document mgmt., including operations and infrastructure).
  • Portfolio refresh on Policy administration, customer management, financial Systems, document management, HRMS, and so on.
  • Program management using lean and offshoring.
  • Migration of legacy mainframe-based infrastructure to modern architecture.
  • TCS BαNCS Insurance platform.
  • TCS framework and tools for portfolio rationalization, data migration, data center consolidation, and business process improvement.

Eclature’s transformation solutions have helped the client to successfully navigate a rapidly changing insurance landscape and offer products to its customers, timely and efficiently.

BENEFITS

The client has derived significant benefits from Eclature’s implementation of Enterprise Simplification solution based on TCS BαNCS Platform in terms of improved business functions, strict adherence to business workflows, faster document management, and operational efficiency that is capable of meeting business goals effectively.

Eclature’s IT improvements have already yielded benefits in improved time-to-market for new insurance products, and the foundation of TCS BaNCS platform has established a technology environment to support the business growth objectives of the client in the years to come.

Eclature proposed the following key deliverables/solutions:

  • Improved business results across parameters such as cost, quality, productivity, and cycle time

– productivity increased to 4.5 million policies nationwide

  • Enhanced operational agility leading to improved agility for your business operations

– 100+ applications rationalization

  • Analytics-driven actionable insights, fuelling growth and cost containment

– 45% reduction in operational costs

  • Better decisions support through an integrated view of the business, both timely and accurate contextual information

– 1,100+ products and variations

  • Reduced infrastructure footprint with optimum utilization of the IT resources

– 13 -> 1 policy administration system

  • Better consumer engagement and business outcomes

– 6 million customers nationwide

  • Lowered operating risk with reduced complexities
  • Increased agility and time-to-market through on-demand capacity
Capabilities

Backed by innovative technologies, business, critical insights, and real-world experience, Eclature used the following technologies for developing and implementing the application:

  • TCS BaNCS product suite
  • Microsoft VB.NET
  • MS Visual Basic 6.0
  • MS SQL Server 2005
  • X.12 EDI Components developed using VB.NET
  • Windows Services for nightly jobs developed using VB.NET
  • MS.Net Framework 3.5
  • ASP.Net
  • C#.Net
  • ASP 3.0
  • XML/XSL