Hexaware Insurance Services

Re-engineering of the core policy systems is more necessary now than ever before due to improvements in technology, raising expectations of consumers and policyholders, and the increased level of competition from other financial services players.

Combined with the typical challenges of acquiring new business, retaining existing customers, and policy administration, and constrained by outdated technology, the industry has taken the initiative to align the policy information systems with the increasingly expanding world around it. The key objectives are:

Insurance Policy Administration - Key Solutions

Application Development & Maintenance

Hexaware possess in-depth knowledge on Traditional Life, Universal Life, Variable Life, Annuities and Retirement pension plans application systems homegrown and package based (CSC’ Life70, LifeCom & Vantage). Hexaware is also experienced in providing day-to-day production support, regulatory enhancements, new product development, administration, and interfaces with other systems in a typical Life Insurance set-up. The policy services supported include:

Re-engineering and Custom Development of Policy Front end systems

The front-end applications of the re-engineered Policy Systems include:

Many insurers are currently faced with the problem of dealing with outdated legacy systems. The 'rip and replace' approach is often not financially viable, so more and more insurers are looking at legacy revitalization options to save costs and be able to provide customers with better and faster service offerings. Hexaware addresses this precise requirement thereby enabling the company to successfully launch a new policy administration services platform that is loosely integrated with the Legacy policy administration and underwriting systems.

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