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HDFC Life

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HDFC Life

  1. 1. “WONDERS”<br />22-07-2011<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />1<br />
  2. 2. Objectives<br />Roadblocks for insurance industry <br />How HDFC standard life insurance overcame the roadblocks and regained it’s USP<br />22-07-2011<br />2<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />
  3. 3. Roadblock For Insurance Industry<br />Paper as a necessary evil<br />Avalanche snow balling of paper<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />3<br />22-07-2011<br />
  4. 4. Concern!<br />Clogged Business Efficiency<br />Storage A Nightmare <br />Tedious File Handling<br />Long Processing Time<br />High Operation Cost<br />Started Losing Its USP<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />22-07-2011<br />4<br />
  5. 5. Wonder with “WONDERS”<br />Digitized Content<br />Automated Workflow <br />Agile Re-engineered Processes<br />Introduce Workflow On Demand Enterprise Retrieval System;“WONDERS”<br />22-07-2011<br />5<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />
  6. 6. Impact on Industry<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />22-07-2011<br />6<br /><ul><li>It secured Storage
  7. 7. Faster retrieval of Data
  8. 8. Better Human Resource allocation
  9. 9. Irregularities indentified
  10. 10. Effectively adapt to changes
  11. 11. 300 percent improvement on policy turn around time
  12. 12. Better customer services
  13. 13. Ease of administration
  14. 14. Tracking policies online
  15. 15. Immediate access to documents
  16. 16. Substantial ROI</li></li></ul><li>Primary Goal<br /><ul><li>Get its people away fromavalanche snow balling of paper
  17. 17. Getting Back To Business</li></ul>Up-Shots<br /><ul><li>Substantial ROI
  18. 18. 300 percent improvement on policy turn around time
  19. 19. Regained its USP</li></ul>Strategy & Implementation<br /><ul><li>Digitized Content
  20. 20. Automated Workflow
  21. 21. “WONDERS” implementation </li></ul>22-07-2011<br />7<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />
  22. 22. De-Route<br />‘Tideworks’ <br /><ul><li>Offer the ability to cost-effectively control over business at higher levels of productivity
  23. 23. Higher customer service
  24. 24. Implemented by Kingston Wharves.</li></ul>Mainsail Terminal Management System® <br /><ul><li>Help terminals maximize productivity
  25. 25. Stronger customer service at every step in the operation. </li></ul>Transmitting Claims electronically and Using online Data Base Management System.<br />22-07-2011<br />8<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />
  26. 26. Conclusion<br />“If you want to drive a cultural change in an organization, you have to address what is in a project for everyone involved.”<br />22-07-2011<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />9<br />
  27. 27. Thank You.<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />22-07-2011<br />10<br />
  28. 28. 22-07-2011<br />11<br />Insuring against Paper Pushing – HDFC Standard Life Insurance<br />

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