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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, , Syntel is well-positioned to help you tide these waves.
Our insurance teams, with 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.
A few factors that contribute to our leadership include:
- Syntel is an ACORD member and recently helped one of its customers win the ACORD “Implementation of the Year” award.
- 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.
- Syntel has alliances with several product vendors in the policy administration and claims space, enhancing out product implementation capabilities.
- 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.
- that help reduce efforts and increase cost savings, including:
- Business Process Test Repository: Delivers competitive advantage by addressing gaps between business knowledge and testing processes, eliminating 40-50% of rework and accelerating the test design process.
- Product Implementation Accelerator Framework: Product definition extraction and integration tool suite to help reduce overall product implementation efforts and costs.
- PerformINS: Syntel’s BI and reporting tool for insurance. With a ready-to-deploy dashboard solution, leading insurance carriers use PerformINS to measure and track their performance is several key areas.
- 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.