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Insurers are in cross-road to deal with key challenges like new entrants disrupting the business model pressurizing to adopt newer technologies, complex IT landscape impeding the release of new products to market. Lesser productivity due to redundant processes, increasing operational costs, fraudulent practices and regulatory changes are the other major hurdles for these organizations.

HCL, a leading global IT solution partner has proven expertise to tackle these challenges, with its strong technology and engineering capabilities along with business and domain knowledge.

HCL is supporting its life insurance clients in their transformation journey to become a Leading Next gen Insurer, through:

  • Unique Business-Aligned IT (BAIT) model to provide best-fit life insurance solutions while considering the associated impacts
  • Collaborative approach that improves clients’ performance while significantly containing costs
  • Centers of Excellence (CoE) to support in building, creating differentiated assets for its partner’s product – accelerating time-to-market
  • Invest in developing IPs and market leading innovative insurance solutions.
  • Disrupt to remove the inefficiency in the technology/IT landscape to make it perform better.
  • Enable and commit on its relationship through its core DNA: ‘Ideapreneurship’ culture that enables every employee working for its client to focus on value creation.

HCL’s insurance services have garnered industry-wide recognition with over 100+ clients successfully served in 31 countries. HCL has also been awarded "Excellence in Insurance Education" by LOMA for the 8th time. Our insurance software solutions have received Gartner’s highest rating of “Mature” in delivering ITO services to both Life Insurance and P&C Insurance customers.

Key Features

HCL Transforming Insurance

Our global insurance practice blends an unrivalled depth and breadth of Insurance Industry knowledge with a rich set of core capabilities in Business Consultancy, claims management , insurance claims management, Integration and Applications Management.

The global insurance practice focuses on the future of the insurance industry across life, annuity, reinsurance, personal, and commercial verticals. We also ensure alignment of SAP solutions to meet specific client needs across these industries.

Key Benefits


The pension and annuities industry is changing with the advent of new technologies on disparate IT systems, resulting in elevated support costs, high compliance risk issues, and a duplication of functionalities. The transformation is driven by factors such as technology support to channels, integration of back-office processes, replacement of legacy systems and inclusion of SOA, web services, and straight through processing (STP). In order to remain competitive, companies need to rationalize their IT strategy around pension services and leverage the full potential of their technology investments to decrease time-to-market for new products while extending their platforms across new age policy holder and producer channels.

With over 15 years of experience in delivering large and complex platform transformations in the pension and annuities space, HCL successfully caters to multiple domains such as Product & Marketing, Policy Administration & Claims, End-to-end Operations, and Customer Experience Management through -.

  • Enabling faster go-to-market and insights into existing product performance that facilitates quicker product launches
  • Simplifying operations through policy administration system migration and consolidation
  • Reducing cost and improving back-office function efficiency
  • Providing a multi-channel integration network that gives customers and channels the benefit of self-service

HCL is the only company in the world to win the prestigious “LOMA Education Excellence Award” eight times. Thanks to a dedicated team of more than 1000 certified SMEs, our platform capabilities in CSC, Amarta, homegrown mainframes and other systems has helped us convert and migrate more than 10 million policies, manage over 3 million policies, and keep track of customer billing records with success. Additionally, HCL is the single sourcing partner for the world’s top two listed life insurers and recognized among the top five BPO companies in the UK administered closed book operation.


Presently, insurers are facing numerous challenges, chief among them being cost reduction without an increase in premium. They also need to introduce customer-centric services and also conform to regulations. Due to high maintenance costs, insurers are unable to take advantage of the communication and distribution channels and create new offerings. In order to run their businesses efficiently, insurers have to transform their Policy Administration Systems (PAS).

HCL’s PAS services integrate best-of-breed products, proprietary insights, tools, methodologies, and service competencies towards building powerful business cases and presenting strategic implementation roadmaps. With its holistic approach, it gives a clear vision for technology transformation and implementation.

HCL’s PAS transformation services solutions is a combination of advisory and consulting services which include process capability assessment, package selection, package implementation, custom application modernization, and managed services. It also leverages assets like iPAS and iPAC. HCL makes use of its technology expertise and domain capacity to help clients build an operational insurance policy administration system.

With a flexible business model, HCL works towards helping insurers reduce their overall expenses, improve their general cycle time, and bolster their customer acquisition capability. In terms of quantified value, HCL’s PAS transformation curtails expense ratios, reduces cycle time, and introduces new ways of enhancing performance. While it improves underwriting effectiveness and refines productivity in policy acquisition, management, and retention under its qualified values.

HCL has helped its customers in the financial services industry by transforming their business operations completely. With efficient time management and a sharp reduction in policy costs, HCL has allowed better business management. It has helped one of the largest P&C insurers in the Asia Pacific region to improve management as well as assess revenue leakage and fraud.

For a leading P&C insurer in Southeast Asia, it has increased the availability of critical business systems, key business systems, and first call resolution at the help desk by a huge margin. Apart from these, it has improved customer experience and revised costs for a leader in workers’ compensation.


A global breakdown has prompted the life insurance industry to alter its business and operating models to successfully navigate the realms of operational efficiency, regulatory compliance, and sustainable competitive advantage. Driven by consumerization and the emergence of alternate sales and distribution channels, life insurance services and products are undergoing significant changes globally. New challenges pertaining to book management, underwriting services, and legacy technologies are also cropping up, compelling insurers to adopt data and analytics driven business decisions while reinventing their sales and distribution strategy.

For over a decade, HCL has been assisting insurers across the globe in effectively conducting their business operations and revamping their sales and distribution strategy. As they keep churning out new products and services to stay competitive in the market, faster time-to-market has become the key objective. HCL adequately supports these new products on existing systems and helps procure new technology systems to maintain and manage them.

Over the years, insurers have acquired several policy administration systems and this lack of comprehensive integrated systems is hindering a single view of the customer and a unified experience across channels. Moreover, the maintenance costs of these traditional systems/platforms can far exceed the budget. HCL enables insurers to develop alternate distribution channels to maximize their customer reach, and modernize and align their life insurance systems and software platforms to meet unique enterprise-level business needs.

Our business benefits include-

  • Enabling faster go-to-market and insights into existing product performance that facilitates faster product launch
  • Simplifying operations through policy administration system migration and consolidation
  • Reducing the cost and improving the efficiency of back-office functions
  • Boosting customer satisfaction by creating a relationship based single view of the customer.

HCL has been a transformational partner to several leading insurers, efficiently managing over 3 million policies and billing records. Our expertise in handling Greenfield implementations and experience in integrated and multi-service delivery are being leveraged by customers across the globe.

For more information please refer to: https://www.hcltech.com/financial-services/insurance-services