It would be difficult to narrow down on a single overriding challenge in the Insurance domain-depending on the size of a company and the component it caters, property and casualty (P&C) or life insurance, the challenges vary. And that’s where HCL’s approach for the industry is a winner—offering solutions and services based on requirements of a particular customer, not the market.
For instance, an average life insurance company usually runs various core applications depending on the product portfolio. This count increases with a new product launch due to inability of existing applications to handle the product. Supporting these applications, businesses spend around 75 percent of their IT budget. In this scenario, HCL’s specialization in Application Portfolio Optimization helps companies rationalize their core applications and ultimately cut non-essential maintenance costs.
On the other hand, P&C insurers differ at core application level and are plagued with many challenges such as controlling underwriting leakage, reducing the claims cost, enhancing customer experience, cross- and up-selling products. HCL’s extensive industry expertise, technology knowledge and their ability to conceive lasting relationships with their clients— the quintessential triad—helps them provide transformational and cost optimized IT services and best practices addressing expense management to direct marketing programs.
Enhanced focus on technology horizontals that support industry verticals is an approach that HCL adopts to ensure that businesses are able to extract the maximum from what a technology has to offer.With this approach HCL’s experts “verticalize” a new technology, meeting specific requirements of the industry-“insurancizing” a technology horizontal.
HCL offers solutions and services based on requirements of a particular customer, not the market
HCL has realized the importance of emphasizing on business rather than the technology behind which is well reflected in their deliverables that are business solutions, not technology solutions. The solutions of HCL involve a thorough study of the client’s challenges and building solutions accordingly. HCL’s “triad” principle ensures that their clients don’t just attain the next level, but leapfrog ahead.
Alternate to staff augmentation model, HCL has adopted program management model- an end-to-end approach through which the client gets more than just picking services off the shelf. HCL effectively employs advanced analytics and predictive modeling, to offer a window for the clients to look into the future and deploy pre-emptive decisions, rather than waiting for an occurrence to be tackled at a later stage.
Instilling confidence before a client integrates solutions into the business creates a real difference. HCL's Beyond Digital Business Unit delivers, in its labs, prototypes the platform, for the customer to gauge the capabilities that they are paying for. To achieve this, the company ensures that its technology arsenal is loaded per the current trends and makes substantial investments in latest technologies such as IoT, Beyond Digital, Cloud to name a few.
For a life and annuity insurer from Eu¬rope–one of the top five globally—HCL increased productivity and efficiency while achieving a reduction in operation cost.
HCL aims to continue its approach of focusing on technology horizontals as levers to “insurancize” their capabilities in the industry. Partnership expansions, strengthening the existing offerings and developing new ones are on the company’s agenda. At HCL, it’s not just about securing a new customer, but nurturing long-term relationships where both can float in a joint-venture, targeting common goals.
HCL¯software¯announces Digital Week 2020, a New Virtual Conference for Digital Solutions Customers
HCL Software, a leading global software company, announces Digital Week 2020, an upcoming virtual super conference for its digital solutions customers. HCL Digital Solutions will kick off this blockbuster virtual conference starting November 9, 2020, at 10 a.m. EST. The conference features thought-provoking keynotes with analysts and influencers from Constellation Research, IDC, and Forrester ” and an agenda packed with incredible product announcements, roundtables, demos, and technical sessions.
Digital Week 2020 is a week-long experience with sessions scheduled for customers around the world in their specific time zones including: Americas, Europe, Middle East, Africa and Asia Pacific. There are three distinct event streams:
Digital Solutions Imagine¯2020:
For business and IT leaders. We will explore and tackle how business models have shifted and work has been flipped upside down. And yet, we still have the ever-present need to drive new revenue and meet shareholder and customer expectations. Join us for two days of thought leadership sessions and major product announcements for HCL Domino, Digital Experience, Connections, and Sametime, and the world premiere of HCL Volt MX, a game-changing multiexperience development platform. Lets transform your business.
DX Inspire 2020:
For HCL Digital Experience customers. This is our second-annual user group and conference centered on HCL DX. Come learn how weve transformed ” and how our HCL DX Fall 2020 release is easier to use and faster to deploy. It delivers more value from your existing on-prem investments with the added speed of new cloud capabilities, reimagined content tools, integrated analytics, and faster and lighter app dev. Join us for exclusive access to demos, experts and our HCL DX leadership team.
Factory Tour 2020:
For techies, administrators, and developers. Come geek out with us backstage and get your hands on our latest industry-leading technologies and demos. Youll get further insight into our new releases, join roundtables and technical sessions, participate in breakout rooms and cafes, and compete with your peers in our global HCL Domino Volt Hackathon.
In these challenging times, as a business we have continued to stay true to the commitments we have made to our customers, partners, and the market. One of those key commitments is to continue delivering new features and innovations across our Digital Solutions portfolio, said Richard Jefts, General Manager and Vice President of Development for HCL Digital Solutions.¯ I am thrilled to share that we are launching Digital Week 2020, where we will be announcing multiple new releases in our Digital Solutions portfolio: a reimagined HCL Digital Experience, a preview of Domino v12, the global launches of Connections V7 and Sametime Premium, and the exciting world premiere of HCL Volt MX , a game-changing multi experience platform (formerly Kony Quantum).
HCL Commerce Fall Release Deepens Cloud-Native and Merchandising Capabilities to Help Clients Sell More
HCL Software today announced the availability of the HCL Commerce Fall Release with improved cloud-native technologies and deeper merchandiser experiences. The Commerce Fall Release is the second major product update in the past six months, delivering new capabilities that help clients deliver engaging customer experiences across the customer journey that go beyond the transaction.
Enhanced capabilities and areas of focus in the Commerce Fall Release include: ¯
• Cloud-Native Commerce¯- With HCL Solution Factory (SoFy), in just a few clicks, users can create a new website, quickly test brand experiences, or try out the latest innovations from HCL Software,¯without requiring help from IT.¯ Additionally, HCL Commerce offers complete portability to deploy a highly secure and scalable commerce solution anywhere including public, private, hybrid or on-premise.¯
• Optimized Merchandising¯- Business users can now detect and address user struggles in real time with HCL Unica Discover. Leveraging pre-tagged storefronts and new dashboards driven via Google Analytics data, merchandisers have a visual snapshot of the health of their digital business,¯all from one place, the HCL Commerce Management Center.
• World Class Experience -¯Users, from marketing and merchandising professionals, can collaborate on the design of the customer experience. They can also synchronize content across online offers and marketing promotions for a consistent and compelling customer journey with HCL Softwares Content and Digital Asset Management Solutions.
With the Fall Release, weve doubled down on the cloud-native capabilities of Commerce to provide our customers with unprecedented control of their commerce experience. Additionally, our support for deep behavioral analytics and Google Analytics enables merchandisers to fine-tune this experience to build loyalty and improve conversions, said Raj Iyer, Vice-President of Product Management. The Commerce Fall Release signifies our commitment and continued investment in the HCL Commerce platform.