Transforming the Product Portfolio

"How HCL’s IT Capabilities Helped an Insurance Company to Enhance Products and Launch New Ones Fast "

Business

Copyright © 2014 HCL Technologies Limited | www.hcltech.com
How HCL’s IT Capabilities Helped an Insurance Company to
Enhance Products and Launch New Ones Fast
Transforming the Product Portfolio

How HCL Addressed the Issues?
Variable Market Response Program: Innovative
Design and Project Execution
• Application Redesigned to Incorporate Flexibility
• Data Driven Architecture to Facilitate Quick Product Launch
• Management Levers Introduced to Facilitate Easy Rider Configuration
• Work stream-Based Development Approach for Accelerated Project Delivery

Copyright © 2014 HCL Technologies Limited | www.hcltech.com
The Benefits
• Re-Launch of Core Variable Annuity Product with Two New Riders
• Product Launched in Record Time of 15 Weeks with Minimal Defects
• Management Levers Accessible to Business Team for Quick Response to Market
Conditions
• Re-Architecture of the Application Into a More Flexible System
• Reduced Cost for New Products

Copyright © 2014 HCL Technologies Limited | www.hcltech.com
• Post 2008 financial crisis, how insurance companies utilized power of IT to realign
themselves with market conditions?
• How regulatory constraints are making it difficult for insurance companies to launch
new products fast?
• Why regulatory compliance is time consuming and resource intensive process?
• What does IT system and process consolidation mean?
Questions
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