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Insurance Brochure
www.hexaware.com | [email protected]
DIGITAL OPERATIONS FOR INSURANCE INDUSTRYInsurers today are embarking on a digital journey to meet the ever growing demands of customers, to deliver a consistent and personalized service experience. Cost pressures and capacity constraints, however, continue to exist and insurers are using multiple automation levers, to improve efficiency and customer experience. As a first step, many insurers have begun replacing their multiple legacy core applications with package products like Guidewire suite of applications. This, seemingly, has resulted in just 40-50% straight-through-processing and, 20-30% optimization of operations effort, as multiple manual activities still needs to be managed from outside of Guidewire application. This is primarily due to the colossal amount of unstructured data input received from agents, brokers and customers; which needs to be manually entered in Guidewire application for further processing. Moreover, the insurance business is conversation intensive, increasing the cost of transaction by 10x, with the involvement of customer service executive at the call center. There is a potential to optimize operations effort by another 20-30% with intelligent automation through use of Robotics and machine learning.
Hexaware Value Proposition• Guaranteed optimization of operations TCO by 30-50 % from Day 1 with risk of implementation and performance of BOTs on Hexaware• 20-30% additional straight-through-processing to improve customer and channel partner experience• Multiple, flexible and unique costing model - per FTE released, per transaction, per license, per BOT, pre-agreed monthly billing• Partnership with best-of-breed automation platform providers• Custom developed, pre-built accelerators for Guidewire suite of products
– 40+ pre-built BOTS (Chat, Voice, Data, Process, Cognitive) to reduce implementation time by 30%– Digital Operations Command Center (DOCC): RPA platform agnostic tool for monitoring and managing BOTs running in the operations– Configuration Manager: Self-service for business users to update business rules in BOTS enabling Operators to be Automators
Hexaware’s Insurance ServicesHexaware helps insurers optimize and transform operations through digital re-imagination, following a data2digital approach, i.e. building “composable enterprises” and continuously building “systems of differentiation.” We help optimize Claims & Underwriting Process Automation through Hexbots and offer comprehensive services and solutions around Policy & Claims package products, like Guidewire Insurance Suite. With over $ 1Bn worth policies managed and 55M claims processed, we service 6 of the top 10 Insurers, 2 of the top 3 risk managers & brokers and a leading re-insurer in the world. Our global services, backed by deep domain expertise, provides a comprehensive support, from maintaining and consolidating legacy systems, to embarking on a digital journey and monitoring regulatory compliance. For additional information please visit www.hexaware.com.
About HexawareHexaware is one of the leading, global providers of IT, Application, Infrastructure, BPO and Digital services. Our business philosophy of Shrink IT, Grow Digital
allows customers to significantly shrink commodity IT spend while partnering with them to embrace digitalization. The Company focuses on key domains such
as Banking, Financial Services, Capital Market, Healthcare, Insurance, Manufacturing, Retail, Education, Telecom, Travel, Transportation and Logistics.
Hexaware focuses on delivering business results and leveraging technology solutions by specializing in services like; Application support, development and
maintenance, Enterprise Solutions, Human Capital Management, Business Intelligence & Analytics, Digital Assurance (Testing), Infrastructure Management
Services, Digital and Business Process Services. Founded in 1990, Hexaware has a well-established global delivery model armed with proprietary tools and
methodologies, skilled human capital and SEI CMMI-Level 5 certification. For additional information logon to: www.hexaware.com
India Headquarters152, Sector – 3Millennium Business Park‘A’ Block, TTC Industrial AreaMahape, Navi Mumbai – 400 710Tel : +91-22-67919595Fax : +91-22-67919500
EU HeadquartersLevel 19, 40 Bank Street,Canary Wharf,London - E14 5NRTel: +44-020-77154100Fax: +44-020-77154101
APAC Headquarters180 Cecil Street,#11-02, Bangkok Bank Building,Singapore 069546Tel : +65-63253020Fax : +65-6222728
NA HeadquartersMetro 101, Suite 600,101 WoodAvenue South, Iselin,New Jersey - 08830Tel: +001-609-409-6950Fax: +001-609-409-6910
www.hexaware.com | [email protected]
Intelligent Automation for Guidewire suite of ProductsExtreme automation, resulting in an additional 20-30% straight-through-processing, can be achieved by avoiding manual touch points in front and back-office business processes. These tasks can be automated with a custom built intelligent digital workforce for Guidewire suite of applications, constituting of Conversation BOTs (Chat, Voice) at the front-office and Data BOTs, Process BOTs at the back-office, with continuous learning and improvement through Cognitive BOTs. Multiple such opportunities exist across business processes as depicted in the picture below
