Insurance Digital Transformation for a Leading Belgian-Based Insurance Group Insurance Digital Transformation for a Leading Belgian-Based Insurance Group

The Trusted Technology Partner of a Leading Belgian-Based Insurance Group

CASESTUDY

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CASESTUDY

Our Customer

AT A GLANCE

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A top insurance group, with the vision to provide protection to as many people as possible partnered with Hexaware for their multi-brand and multi-channel digital transformation strategy.

The client provides different types of insurance policies for personal and commercial auto, business owners, workers compensation, homeowners, and commercial property to a wide range of private, self-employed businesses and institutions.

A quick snapshot of the client’s business

1.9 million

Policies

Policy Holders

1.05 million

Employees

1500

Life Premium

863 million

Non-Life Premium

695 million

Channels

240+

Agents

1000+

Brokers

Direct

Affinities

The company ranks #7 in Belgium for insurance products.

Business Challenges

The client, a part of three entities that underwent mergers and acquisitions, ended up with a complex technology landscape.

Business Challenges

Their current operational ecosystem faced the following challenges:

According to FDA, protocol-mandated visits, laboratory/diagnostic testing, and use of the investigational product are the key types of protocol deviations anticipated from COVID-19

88% of CROs, are investing in remote trial monitoring solutions causing multifold protocol deviations

Deviations can have an impact on delaying some assessments for ongoing trials to stopping recruitment or withdrawing participants

On average, clinical trials with at least one substantial protocol amendment took 3 months longer to complete than those without an amendment

Tufts CSDD estimates protocol amendments cost the industry a total of $20 billion a year in direct and indirect costs

• Disjointed systems • High cost of support, complexity, and operations • Multiple partners across heterogeneous systems • Unable to change their business quickly • No single point of responsibility • Slow time-to-market • Multiple versions of similar products • Limited integrations across systems and the 5 lines of businesses • Poor customer experience • Poor data quality and reporting • No digitization

Our Solutions

Our Solution

The Belgium insurance giant selected Hexaware as its strategic IT partner-of-choice to enable sustainable digital transformation and simplified processes.

We proposed solutions across the insurance value chain based on different requirements, covering the following areas:

OUR SOLUTIONS

The transformation story…

The client had embarked on the non-life business transformation program. We started the engagement for transforming their legacy data to Guidewire. Over a period, we extended our support to multiple areas of the transformation program, covering the core implementation, integration, upgrades, etc.

On a broader level, our services catered to:

• End-to-End Guidewire Implementation • API Integration • Data Migration, Transformation, and Reporting • Application Support and Maintenance • Test Automation • DevOps Assessment (proposal submitted for implementation)

Here is a snapshot of what we did for the client and how it helped them

Below given are three cases highlighting Hexaware’s IT support for the insurance company.

End-to-End Guidewire Implementation

What we delivered: We helped the client implement Guidewire InsuranceSuiteTM and Guidewire Portal. Our services extended to maintaining and supporting the Guidewire Platform.

The client faced high cost and complexity in managing diverse legacy portfolios from 3 entities. The existing systems took higher time-to-market for adding any new commercial offerings. It was also challenging to embrace new digital trends (e.g., offering self-servicing capabilities).

Data Consolidation and Transformation to Guidewire PolicyCenter

Hexaware took the onus of end-to-end migration and followed an automation-first approach. Post-migration, we expect the following solutions and benefits:

• Consolidation of product portfolio • Flexible and automated migration architecture to ensure at least 95% of the portfolio to be moved through STP • Decommissioning legacy to reduce IT TCO • Automated analysis of data quality • Historical data reporting of the complete portfolio • Enabling DataHub Reporting for the migrated portfolio

The client wanted support with technical and functional upgrade of CC v8 to v10 on-premise, functional and non-functional testing, automation framework creation, and regression test automation.

Guidewire Transformation Testing - ClaimCenter upgrade V10.x

Hexaware built the automation framework with model-based testing and test automation using TALOS. The solution led to benefits like:

• 40% regression automation suite aligned for V10 • Reduced time leveraging Hexaware’s upgrade knowledge • Implemented 10% additional OOTB V10 feature apart from existing OOTB V8 features

The above three cases brought out the value delivered by Hexaware to support the client’s digital success. The client is happy to be able to deliver superior customer experiences now by embracing digital at every level.

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Business Benefits

HIGHLIGHTS

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Our holistic solution for deviation and amendments management led to excellence in clinical trials operations, effort reduction, and performance improvement.

Business Benefits

Our holistic solution for deviation and amendments management led to excellence in clinical trials operations, effort reduction, and performance improvement.

85% of interactions previously through calls are now routed through chat

30% faster onboarding with automation and other enhancements like quick routing

Increase in customer satisfaction through focussed data to insights

Reduction in number of licenses. 30% faster onboarding with automation and other enhancements like quick routing 85% of interactions previously through calls are now routed through chat

30% faster onboarding with automation and other enhancements like quick routing

85% of interactions previously through calls are now routed through chat

Cohesive solution aids in more efficient operation across multiple enterprise levels

Significant effort reduction in managing protocol deviations

Minimized manual errors

Improved employee performance and efficiency

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