The Challenge Facing Insurance Companies Today
Insurers face mounting pressure to improve profitability, which is directly linked to their ability to accurately assess risk, manage relationships, and achieve operational efficiencies. Insurers must also satisfy:
- Regulators who demand better risk management
- Customers who want up-to-date, highly competitive products
- Agents who need better ways of doing business
The Answer
Data from multiple sources must be integrated. By transforming their processes and operations to provide improved access to information, insurers can:
- Eliminate product-oriented “silos”
- Distribute integrated data to sales and self-sufficient customers
- Provide the ability to view and update multiple products within a single transaction
- Rationalize and decommission legacy systems to improve profitability
- Eliminate inefficient back-office processing functions
- Tightly couple the corporate office to the distribution channel
- Improve the quality of service in the distribution channel
HP has the core capabilities you need to transform your business and embrace new opportunities. HP is a leader in providing IT solutions to the financial services industry. By leveraging our industry experience and leading-edge-technology insight, you can focus on developing new products and services that distinguish you in the marketplace.
HP offers these services and insurance software solutions to help clients meet their critical needs:
- INGENIUM
- ProductXpress
- RADIENCE Administration
- RADIENCE Consolidation
- Exstream
- Insurance Claims Transformation
- Infrastructure Services Overview
- Business Process Outsourcing Services
- Applications Services
The Results
HP helps your organization uncover new ways to enhance productivity, maintain regulatory compliance, and build on customer relationships. Clients realize cost savings and top-line revenue growth. With our help:
- A non-profit insurance organization with five million members optimizes its backroom IT operations to realize a projected five-year net benefit of nearly $30 million
- A leading provider of extended service plans launches a next-generation consumer portal with expanded functionality that leads to a 500 percent increase in online registrations
- One of the largest insurance companies in the U.S. transforms its contact-center operations, saving more than 40 percent on customer-support expenses through a lower cost per call and a reduction in rework
The global insurance industry is information driven. Companies that embrace information sharing enjoy a competitive advantage. In HP, you have a partner who can help you make the most of your opportunities.
Financial Services Industry Contact Information
Vice President, Global Financial Services Mark DeBenedictus
Mark DeBenedictus is vice president of Global Financial Services. He is responsible for leading business operations and driving growth in this multibillion dollar market including banking, insurance and capital markets. In this role, DeBenedictus oversees development of industry strategy, client relationships, and go-to-market plans for industry solutions and business partners throughout the world.
Download Mark DeBenedictus' biography PDF, 95K
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