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Syntel - A Leader in the Insurance Space 

The Insurance industry today is facing unprecedented pressures on various fronts. While Insurers have to put in extra efforts to attract extremely price-sensitive customers and innovate ultra-flexible products to suit their requirements, a regulatory churn is also imminent.  

This extraordinary scenario calls for innovative thinking and a nimble approach to business as a whole. With a customer roster that boasts the top Personal & Commercial, Life & Retirement and Health Insurers, including 8 of the 30 largest insurance companies in the world, Syntel is well-positioned to help you tide these waves.

Our insurance teams, with extensive hands on project experience and certifications like LOMA, FLMI, CPCU and more, can help you derive quick-wins like cost savings with current systems and application consolidation while maintaining a definitive vision of the long-term horizon to ensure that you WIN in the future.

Insurers today choose Syntel as a partner of choice for its right mix of technical and business knowledge. A few factors that contribute to our leadership include:

• Alliances with Key Industry Organizations: Syntel is an ACORD member and recently helped one of its customers win the ACORD “Implementation of the Year” award.
• Partnerships with Academic Institutions: Syntel is engaged in partnerships with AICPCU (Property and Casualty) and LOMA (Life and Annuities) with an objective of developing a significant number of Subject Matter Experts (SMEs) in all key areas of the insurance space. Syntel’s delivery centers are certified online testing centers for both AICPCU and LOMA.
• Synergies with Product Partners: Syntel has alliances with several product vendors in the policy administration and claims space, enhancing out product implementation capabilities.
• Commitment to Driving Innovation: Innovation has long been a part of Syntel’s corporate DNA and to provide recognition to teams that deliver it, we have instituted a Syntelovation Awards Program.
• Insurance Specific Solution Accelerators that help reduce efforts and increase cost savings, including:
  • Product Implementation Accelerator Framework:  Product definition extraction and integration tool suite to help reduce overall product implementation efforts and costs.
  • Syntel Analytical Model for Insurance (SAMI): Provides access to real-time performance and status information; thus enabling quick and intelligent decisions for the insurers.
  • Integrated Test Accelerator Platform for insurance: Assists testing team to provide value add services to the customers leading to considerable cost and time savings.
  • Insurance Forms Management Center: Productivity improvement accelerators built around form management center. 
  • Insurance Message Bus Repository and framework for real time agency integration: Readily deployable framework to address challenges of real time data exchange and collaboration issues between agents and insurers, and reduce high integration and implementation costs for insurers.
  • Legacy Modernization Framework: Combination of methodologies, industry best practices, partnership PoCs, and solution accelerators that help reduce complexities and costs involved in modernizing legacy applications.