Case Study: Global Life & Annuity Insuring Company achieves 40% cost savings with HCL application consolidation

Consolidated Applications Resulted In 40% Savings In Operation Cost

The customer, one of the top five global life and annuity insurers from Europe, faced challenges from a complex application landscape. They needed to consolidate disparate systems, eliminate data redundancy, rationalize vendors, and clear a significant backlog of work requests. To address this, they partnered with vendor HCL for application support, maintenance, and modernization services.

HCL consolidated 13 policy administration systems down to 5 and successfully migrated three life administration systems into one, which included moving over 90,000 policies. They created a single customer view for over 9 million clients and implemented a governance framework for the multi-vendor environment. These efforts by HCL resulted in a 40% savings in operation costs and a 30% increase in productivity and resource efficiency for the customer.