Actuarial Processes Delivering Business Performance Improvement Through Business Process Outsourcing

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Actuarial Processes Delivering Business Performance Improvement Through Business Process Outsourcing"

Transcription

1 Business Transformation Services Consideration Brief Actuarial Processes Delivering Business Performance Improvement Through Business Process Outsourcing Table of Contents Executive Summary Client Background The Sutherland Approach Process Analysis Findings Recommendations and Solutions Results and Performance Gains Summary About Sutherland Global Services Sutherland Global Services February

2 Executive Summary This Consideration Brief addresses how true Process Consulting delivers positive change that impacts business revenue, provides competitive advantages, and raises overall productivity in an organization. In this document, we review the business case of a global specialty insurance company that engaged Sutherland Global Services to conduct a detailed Assessment and Process Analysis of the company s Actuarial operations. This is one in a series of solutions that Sutherland has provided for the client company, which had undergone significant growth as a result of recent acquisitions. Our previous work had revealed that process ownership was decentralized among shared businesses and services, and processes were supported by disparate technology. An artificial sense of separation had negatively impacted the insurer s business productivity and revenue. Sutherland configured a successful solution that brought a sense of one company to this conglomerate of multiple organizations. In this particular case, we were engaged to address a number of challenges faced by the company s UK- based Actuarial operations. Our task was clear: Alleviate the heavy backlog of Actuarial analyses, improve cost efficiencies, and build a solid base of actuarial talent to handle the work volume. Our extensive expertise in the insurance industry and our history of success with this client company provided a solid framework on which to build a solution. We began by identifying pain points and opportunities for improvement. Following a detailed analysis and process mapping exercise, Sutherland designed a customized solution to enhance the efficiency and effectiveness of the company s Actuarial operations. The initial results were significant, and our client continues to yield measurable improvements. Our Process Analysis phase revealed several opportunities to reduce labor costs by up to 40% without displacing current staff. Through regionalization of labor and standardization of processes, Sutherland identified a number of ways the insurer could increase the productivity and output of its actuarial operations by as much as 30%. While some of the specific processes and terminology in this case are unique to the insurance industry, the story is universal. Our client s situation will ring familiar to any business owner challenged by the high cost of operations and shrinking margins in an increasingly competitive market. Today, more companies are turning to Business Process Outsourcing as a viable solution for these challenges 2

3 Client Background Our client is a $7 billion international underwriter of specialty insurance and reinsurance products in key areas of the property- casualty market. Its four business segments include: Commercial Specialty, Excess and Surplus Lines, Reinsurance and International Specialty, which includes Lloyd s Syndicate. The company had grown significantly in recent years to service the Commercial Specialty and Excess and Surplus lines: First, it combined two individual companies to form a new Specialty company, and second, it had acquired three strong niche insurance companies including one with six US locations. For this particular Actuarial solution, our efforts focused on the company s Lloyd s Syndicate office in the UK, located in the heart of the London Insurance Market. The Sutherland Approach The insurance company s executive team engaged Sutherland to assist in evaluating its UK Actuarial Operations and look for opportunities to implement a solution that would ease the workload of current staff and help produce analyses and reports much more quickly and accurately. Our approach included four key elements that are pillars to every Sutherland solution: People, Process, Technology and Location. In the fall of 2010, we launched a high- level discovery process in order to observe and define current actuarial activities, identify a potential and recommended project scope, determine key metrics, and outline the solution and transition approach. Sutherland completed the first portion of the review with the following assumptions in mind: Risk- managed, conservative solution Preservation of core processes and staff Solution would be an onshore (retained) and offshore hybrid Timelines would have precedence over process perfection Stable technology, utilizing current ResQ actuarial software Through on- site visits at the UK offices, our team conducted an in- depth review, which included observing processes, evaluating actuarial software, and mapping processes. Using onshore and offshore locations, we developed a solution to improve the utilization of the company s Actuarial staff. Ultimately, our solution would reduce the overall cost of Actuarial operations and yield significant labor savings without displacing staff. Our approach reveals one of 3

4 the key advantages of business process outsourcing: Shifting a high- volume workload to an economical offshore solution enables company employees to focus on what they do best building the business and providing excellent service to customers. Process Analysis Findings Our discovery exercise and process analysis phase revealed several challenges and opportunities for improvement in the company s Actuarial operations: Attracting a sufficient volume of actuarial talent in the UK Improving efficiency and productivity while reducing labor costs Producing actuarial analyses and reports, quickly and accurately Reducing backlog of actuarial analyses Utilizing Actuarial software correctly to maximize effectiveness Recommendations and Solutions Following our exploratory phase and detailed data analysis, Sutherland s Solution/Service Delivery team recommended several enhancements to help the UK Actuarial office operate more cost- effectively and efficiently. Our solution was designed to eliminate the current backlog of analyses, to provide a cost- efficient resource for Actuarial staff, and to generate overall efficiency gains. Implementation of the solution was phased in over a 6- month period, following our foundational philosophy of building a global process foundation and then transitioning additional businesses into the shared support world. Our first step was to start a three- month training session with the client to completely evaluate and train on the current operation, and then shift the operation s workload to an offshore geographic region where there is a high concentration of Actuaries. This offshore team supplements the current Actuarial staff without displacing employees and expanding the current operations. Providing a resource for highly qualified Actuaries was valuable to our client, because the accuracy and timeliness of actuarial data provides a key competitive advantage for insurance companies when pricing their plans. As part of our solution, Sutherland supports the UK operations by handling all of the following tasks: Data uploading - We perform regular claims data manipulation and uploads in ResQ, actuarial software utilized to streamline the data/risk calculation process. 4

5 Data validation and checks Perform at each stage for the current month s uploading as well as for previous data Perform various checks to analyze the accuracy and consistency of the data Reserving Methodology Perform regular reviewing & selection of paid and incurred claims development patterns. Application of various reserving methodologies on the data. Perform initial draft selection of ultimate losses for discussion with senior actuaries at the company Reporting Create regular reports and data outputs as requested by the client company s actuaries. Keep client actuaries apprised at all times through the timely completion and submission of all requested program reporting Compliance Sutherland handles all escalation calls/queries from the client company and its employees Results and Performance Gains The initial gains were both financial and qualitative in nature. Most notably, the results were seen almost immediately. Our client s feedback captures it best: Sutherland s learning curve was minimal. They ramped up quickly and our backlog is gone. Among the key achievements and measurable results in the UK Actuarial operations: 100% reduction in backlog Increased productivity by 50% Ramped up staffing by 40% with cost- efficient labor Improved output of reports and analyses by 100% 5

6 Summary The Sutherland approach to process consulting revealed that the insurer s current Actuarial operations in the UK were under- staffed and subsequently lagging in productivity. Current staff did not have enough time to keep pace with the high volume of output required for maximum efficiency in the busy London insurance market. Our discovery process revealed the root causes namely, a shortage of Actuarial talent in the UK, a heavy backlog of analysis/reporting work, and underutilized actuarial software. Following a detailed process analysis, Sutherland designed a solution that included an offshore talent pool and additional support with data uploading and review, reporting, and compliance. Results were immediate and significant, including a 40% reduction in operating costs and a 50% increase in productivity. Future efforts to generate efficiency gains will continue to drive down costs and improve productivity and performance across the UK Actuarial operations. About Sutherland Global Services Established in 1986, Sutherland Global Services is a global BPO services enterprise providing integrated Platform- based and Analytics enabled business- cycle support solutions for major Industry Verticals and global industry leaders. Sutherland collaborates with clients to help them excel in their industry while maximizing their customers lifetime value. Sutherland is Certified as a Minority Business Enterprise by NMSDC Sutherland Global Services WP- ACT

Improving SAP HR Support Levels and Usability

Improving SAP HR Support Levels and Usability Whitaker-Taylor Whitepaper Improving SAP HR Support Levels and Usability maintaining peak performance while reducing fixed costs 2010 Whitaker-Taylor 404 253-7760 whitakertaylor.com Atlanta Los Angles

More information

Business Process Outsourcing Considerations with a Focus on the Customer Experience

Business Process Outsourcing Considerations with a Focus on the Customer Experience Educational Whitepaper Business Process Outsourcing Considerations with a Focus on the Customer Experience www.vertek.com Business Process Outsourcing Considerations with a Focus on the Customer Experience

More information

QUICK FACTS. Facilitating Application Packaging on Behalf of a Global Professional Services Company

QUICK FACTS. Facilitating Application Packaging on Behalf of a Global Professional Services Company [ Professional Services, Technology Deployment ] TEKsystems Global Services Customer Success Stories Client Profile Industry: Professional Services Revenue: Over $13 billion Employees: Over 250,000 Geographic

More information

BANKING SERVICES MORTGAGE

BANKING SERVICES MORTGAGE SERVICES End-to-end management of loan origination,underwriting and closing for a US-based Mortgage Loan Company Client Profile Performance Highlights: Reduced overall cost of loan origination by 25% Reduced

More information

INSURANCE. Adding lasting to success. That s the intelligent enterprise

INSURANCE. Adding lasting to success. That s the intelligent enterprise INSURANCE Adding lasting to success. That s the intelligent enterprise Economic turmoil doesn t have to mean financial setback. Forward-looking insurance companies continue to grow, despite the current

More information

The Benefits of PLM-based CAPA Software

The Benefits of PLM-based CAPA Software For manufacturers in industries that produce some of the world s most complex products, effective quality management continues to be a competitive advantage. Whether in automotive, aerospace and defense,

More information

QUICK FACTS. Implementing Oracle Business Intelligence Applications 11g for a Fortune 500 Corporation

QUICK FACTS. Implementing Oracle Business Intelligence Applications 11g for a Fortune 500 Corporation [ Manufacturing, Analytics Services ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES Client Profile Industry: Appliances manufacturing Revenue: $146 billion (parent company) Employees: 305,000 (parent

More information

QUICK FACTS. Implementing Business Intelligence and Retail Signal Solutions for Sony PlayStation TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES

QUICK FACTS. Implementing Business Intelligence and Retail Signal Solutions for Sony PlayStation TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES [ Manufacturing, Data Services ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES Client Profile Industry: Video and computer entertainment Global Revenue: $77.58 billion Employees: More than 162,000

More information

Evolution of the Commercial Lines Market The growth and profit challenge

Evolution of the Commercial Lines Market The growth and profit challenge Evolution of the Commercial Lines Market The growth and profit challenge This article examines changes in the Australian commercial lines insurance market in recent years the changing face of distribution,

More information

White Paper August 2010. Preparing for Profitable. Growth. Virtually ( 2 )

White Paper August 2010. Preparing for Profitable. Growth. Virtually ( 2 ) White Paper August 2010 Preparing for Profitable Growth Virtually ( 2 ) Preparing for Profitable Growth Virtually New Model The Crash of 2008 provided valuable lessons about the need to effectively manage

More information

ENTERPRISE CONTENT MANAGEMENT: THE EMERGING TOOL FOR MANAGING TODAY S ENGINEERING FIRM

ENTERPRISE CONTENT MANAGEMENT: THE EMERGING TOOL FOR MANAGING TODAY S ENGINEERING FIRM ENTERPRISE CONTENT MANAGEMENT: THE EMERGING TOOL FOR MANAGING TODAY S ENGINEERING FIRM The recent economic slowdown has affected business across the globe. Sales have slowed, financing has dried up, and

More information

Cloud Call Centre. itouch Vision. This document gives an overview of the cloud call Centre and discusses the different features and functionality.

Cloud Call Centre. itouch Vision. This document gives an overview of the cloud call Centre and discusses the different features and functionality. itouch Vision Cloud Call Centre This document gives an overview of the cloud call Centre and discusses the different features and functionality. For further information, about implementation and pricing

More information

QUICK FACTS. Enhancing the Marketing Campaign Management Portal for an SaaS Provider. TEKsystems Global Services Customer Success Stories

QUICK FACTS. Enhancing the Marketing Campaign Management Portal for an SaaS Provider. TEKsystems Global Services Customer Success Stories [ Information Technology, Application Development ] TEKsystems Global Services Customer Success Stories Client Profile Industry: Internet and software services Revenue: Over $200 million Employees: Nearly

More information

SHARED SERVICES OR OUTSOURCING?

SHARED SERVICES OR OUTSOURCING? SHARED SERVICES OR OUTSOURCING? Assessing Scope, Process Maturity and Organizational Design Kevin Lewis, ISG Director; CPA, CGMA www.isg-one.com INTRODUCTION As organizations grow in size and complexity,

More information

QUICK FACTS. Mitigating Co-employment Risk for a Global Interactive Entertainment Company TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES

QUICK FACTS. Mitigating Co-employment Risk for a Global Interactive Entertainment Company TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES [ Information Technology, Managed Services Offering ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES QUICK FACTS Client Profile Industry: Media, entertainment and gaming Revenue: More than $4 billion

More information

Insight Paper Outsourcing Policy Administration: How a managed services model is

Insight Paper Outsourcing Policy Administration: How a managed services model is iworks Enterprise Life Admin A hosted, policy administration solution for insurers Insight Paper Outsourcing Policy Administration: How a managed services model is revolutionizing traditional PAS implementations

More information

Leading Danish provider of communications solutions: Customer Relations BPO

Leading Danish provider of communications solutions: Customer Relations BPO Leading Danish provider of : Customer Relations BPO This ongoing relationship has seen a large Danish communications solutions company outsource its Customer Relations business process operations to Sitel.

More information

Transforming Insurance Risk Assessment with Big Data: Choosing the Best Path

Transforming Insurance Risk Assessment with Big Data: Choosing the Best Path Insurance the way we see it Transforming Insurance Risk Assessment with Big Data: Choosing the Best Path Table of Contents Introduction 3 1. The Big Data Benefits for Risk Assessment 4 2. The Roadblocks

More information

Specialty Insurance Where Are We Headed?

Specialty Insurance Where Are We Headed? 2013 PLUS D&O Symposium Specialty Insurance Where Are We Headed? David Cash Endurance Specialty New York - February 6-7, 2013 Keynote Outline 1. Who are the Specialty Companies? 2. Economic drivers for

More information

Overview and Frequently Asked Questions

Overview and Frequently Asked Questions Overview and Frequently Asked Questions Overview Oracle Buys Skywire Software Accelerates Oracle s formation of the most modern and complete software suite for the insurance industry and expands content

More information

Accenture Insurance BPO Services. Achieving high performance through business process outsourcing

Accenture Insurance BPO Services. Achieving high performance through business process outsourcing Accenture Insurance BPO Services Achieving high performance through business process outsourcing BPO can help insurers ease economic pressures through rapid cost reduction The insurance business model

More information

DIGITALLY ENABLED TRANSFORMATION PROGRAMS MUST ALIGN WITH BUSINESS OUTCOMES

DIGITALLY ENABLED TRANSFORMATION PROGRAMS MUST ALIGN WITH BUSINESS OUTCOMES CAN MORTGAGE LENDERS STAY COMPETITIVE WITH BETTER PROCESS AND TECHNOLOGY? A report from genpact.com/leandigital for MORTGAGE LENDING IS AT A CROSSROADS. CUSTOMER SATISFACTION DRIVES MARKET SHARE FOR MORTGAGE

More information

Radar Live. A new era in real-time price delivery

Radar Live. A new era in real-time price delivery A new era in real-time price delivery A major leap forward in pricing delivery is game-changing enterprise software that revolutionises the way that insurers can deliver prices to their customers. The

More information

Top 5 Reasons to Outsource MORE!

Top 5 Reasons to Outsource MORE! Top 5 Reasons to Outsource MORE! This report is available for download on Teleperformance s website. For more information about articles and white papers, go to: www.teleperformance.com Why Companies Are

More information

IDC MarketScape Excerpt: Worldwide Business Analytics BPO Services 2014 Vendor Assessment

IDC MarketScape Excerpt: Worldwide Business Analytics BPO Services 2014 Vendor Assessment IDC MarketScape IDC MarketScape Excerpt: Worldwide Business Analytics BPO Services 2014 Vendor Assessment Mukesh Dialani THIS IDC MARKETSCAPE EXCERPT FEATURES: TCS IDC MARKETSCAPE FIGURE FIGURE 1 IDC MarketScape

More information

BEST PRACTICES RESEARCH

BEST PRACTICES RESEARCH 2013 Frost & Sullivan 1 We Accelerate Growth Entrepreneurial Company of the Year Award Pharmaceutical Knowledge Process Outsourcing North America, 2013 Frost & Sullivan s Global Research Platform Frost

More information

Status Report on ERP-Finance ERP-Human Resources

Status Report on ERP-Finance ERP-Human Resources Status Report on ERP-Finance ERP-Human Resources Presented to the Audit, Business, Technology Committee of the Board of Education January 8, 2004 Agenda! What is an ERP?! Why is the District pursuing an

More information

QUICK FACTS. Replicating Canada-based Database Support at a New Facility in the U.S. TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES

QUICK FACTS. Replicating Canada-based Database Support at a New Facility in the U.S. TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES [ Energy Services, Managed Services Offering/ Network Infrastructure Services ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES Client Profile Industry: Oil and natural gas Revenue: Approximately $5.2

More information

Jevco Insurance Company. Broker Portal Case Study

Jevco Insurance Company. Broker Portal Case Study Jevco Insurance Company Broker Portal Case Study May 20, 2009 Table of Contents Executive Overview...3 Octello Case Study...4 Jevco Insurance Company Broker Portal Case Study...5 Company profile...5 Business

More information

CHOOSING YOUR CONTINGENT WORKFORCE MODEL & BUILDING THE BUSINESS CASE

CHOOSING YOUR CONTINGENT WORKFORCE MODEL & BUILDING THE BUSINESS CASE CHOOSING YOUR CONTINGENT WORKFORCE MODEL & BUILDING THE BUSINESS CASE According to Careerbuilder s national survey, employers recently indicated that contingent hiring is expected to increase 10 percent

More information

Organization transformation in times of change

Organization transformation in times of change Organization transformation in times of change Insurance is sold, not bought is a phrase of unknown attribution, but common wisdom for decades. Thus, insurers and most financial services organizations

More information

Business Process Outsourcing Life Insurance

Business Process Outsourcing Life Insurance Business Process Outsourcing Life Insurance Life Insurance Challenges Life Insurers are facing market shrinkage, increased customer volatility, cost pressure and ageing IT systems MARKET Dampened demand

More information

www.hcltech.com ANALYTICS STRATEGIES FOR INSURANCE

www.hcltech.com ANALYTICS STRATEGIES FOR INSURANCE www.hcltech.com ANALYTICS STRATEGIES FOR INSURANCE WHITEPAPER July 2015 ABOUT THE AUTHOR Peter Melville Insurance Domain Lead Europe, HCL He has twenty five years of experience in the insurance industry

More information

Global Multi-lingual, Multi-channel Support Services for A Security SW Major

Global Multi-lingual, Multi-channel Support Services for A Security SW Major Global Multi-lingual, Multi-channel Support Services for A Security SW Major Client Profile The Client is a US-based pioneer of computer security and anti-virus solutions and the world s largest dedicated

More information

QUICK FACTS. Facilitating IT Service Management Enterprise-wide for Leading Insurance Provider TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES

QUICK FACTS. Facilitating IT Service Management Enterprise-wide for Leading Insurance Provider TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES [ Financial Services, Application Management Outsourcing ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES Client Profile Industry: Insurance Revenue: $64.3 billion Employees: Over 65,000 Geographic

More information

Telemarketing Services Buyer's Guide By the purchasing experts at BuyerZone

Telemarketing Services Buyer's Guide By the purchasing experts at BuyerZone Introduction: reasons to outsource The main reason companies outsource telemarketing operations is that setting up a large scale telemarketing call center is expensive and complicated. First you ll need

More information

solution brief NEC Remote Managed Services Prevent Costly Communications Downtime with Proactive Network Monitoring and Management from NEC

solution brief NEC Remote Managed Services Prevent Costly Communications Downtime with Proactive Network Monitoring and Management from NEC NEC Remote Managed Services Prevent Costly Communications Downtime with Proactive Network Monitoring and Management from NEC NEC Remote Managed Services: Removing the Complexities of Communications Network

More information

Creating a Platform-based Support Revenue Stream for a Global Telecom Major

Creating a Platform-based Support Revenue Stream for a Global Telecom Major Creating a Platform-based Support Revenue Stream for a Global Telecom Major Client Profile Performance Highlights: Sutherland transformed the Client s Home Technology Repair Support (HTRS) Cost Center

More information

White Paper. Maximizing the Benefits of Computer Aided Medical Transcription by Outsourcing to Multiple MTSOs

White Paper. Maximizing the Benefits of Computer Aided Medical Transcription by Outsourcing to Multiple MTSOs White Paper Maximizing the Benefits of Computer Aided Medical Transcription by Outsourcing to Multiple MTSOs Introduction The potential for background speech recognition to decrease costs, reduce turnaround

More information

DELIVERY CONTROLLED CONSTRUCTION MANAGEMENT. Control your Delivery with a 360 View of Your Project Data, Financials and Operations

DELIVERY CONTROLLED CONSTRUCTION MANAGEMENT. Control your Delivery with a 360 View of Your Project Data, Financials and Operations DELIVERY CONTROLLED CONSTRUCTION MANAGEMENT Control your Delivery with a 360 View of Your Project Data, Financials and Operations CONTENT 1 For convenience, use the links below Complete Enterprise Platform

More information

APPLICATION PORTFOLIO ASSESSMENT

APPLICATION PORTFOLIO ASSESSMENT WHITE PAPER APPLICATION PORTFOLIO ASSESSMENT A strategic path for Decision Making Table of Contents ABSTRACT Critical decisions about IT and application systems are a high priority for today s executives.

More information

Below is a general overview of Captives with particular information regarding Labuan International and Business Financial Centre (Labuan IBFC).

Below is a general overview of Captives with particular information regarding Labuan International and Business Financial Centre (Labuan IBFC). LABUAN CAPTIVES Below is a general overview of Captives with particular information regarding Labuan International and Business Financial Centre (Labuan IBFC). Kensington Trust Labuan Limited is a licensed

More information

IDC MarketScape Excerpt: Worldwide Life Science R&D ITO 2013 Vendor Assessment

IDC MarketScape Excerpt: Worldwide Life Science R&D ITO 2013 Vendor Assessment IDC MarketScape IDC MarketScape Excerpt: Worldwide Life Science R&D ITO 2013 Vendor Assessment Alan S. Louie, Ph.D. THIS IDC MARKETSCAPE EXCERPT FEATURES: ACCENTURE IDC MARKETSCAPE FIGURE FIGURE 1 IDC

More information

Understanding How to Choose a Database Platform for Siemens PLM Software s Teamcenter

Understanding How to Choose a Database Platform for Siemens PLM Software s Teamcenter Understanding How to Choose a Database Platform for Siemens PLM Software s Teamcenter White Paper Published: April 2009 For the latest information, see http://www.microsoft.com/sqlserver/2008. Copyright

More information

INCORPORATING SMALL PRODUCERS INTO FORMAL RETAIL SUPPLY CHAINS SOURCING READINESS CHECKLIST 2016

INCORPORATING SMALL PRODUCERS INTO FORMAL RETAIL SUPPLY CHAINS SOURCING READINESS CHECKLIST 2016 INCORPORATING SMALL PRODUCERS INTO FORMAL RETAIL SUPPLY CHAINS SOURCING READINESS CHECKLIST 2016 LSteinfield/Bentley University Authors: Ted London Linda Scott Colm Fay This report was produced with the

More information

Knowledge Processing Outsourcing (KPO) Transformation in the Operating Model for Fee-Earning Activities

Knowledge Processing Outsourcing (KPO) Transformation in the Operating Model for Fee-Earning Activities Knowledge Processing (KPO) Transformation in the Operating Model for Fee-Earning Activities Knowledge Processing (KPO) Summary Knowledge Process (KPO) is a form of outsourcing, in which knowledgerelated

More information

Customer & Enterprise facing Integrated BPO Services for a US-Based Retail Chain

Customer & Enterprise facing Integrated BPO Services for a US-Based Retail Chain Customer & Enterprise facing Integrated BPO Services for a US-Based Retail Chain Client Profile The Client is a US-based leading pet specialty retailer providing a comprehensive range of pet-care products,

More information

Order Management Models: Outsourced, In-House, or On-Demand

Order Management Models: Outsourced, In-House, or On-Demand Educational Whitepaper Order Management Models: Outsourced, In-House, or On-Demand Which is best for your company? www.vertek.com Order Management Models: Outsourced, In-House or On-Demand Which is best

More information

Strategy in the Digital Vortex

Strategy in the Digital Vortex Strategy in the Digital Vortex Presentation Created for: SALGSKONFERENCEN 2016 OVERLEVER DIN VIRKSOMHED DEN DIGITALE TRANSFORMATION 7 Strategies to Compete in a Disrupted Universe Andrew Tarling The Global

More information

Business Process and Best Practices: A diagnostic checkup for your services organization

Business Process and Best Practices: A diagnostic checkup for your services organization Business Process and Best Practices: A diagnostic checkup for your services organization This white paper provides a framework for conducting an audit of your services business processes and your PSA solution

More information

QUICK FACTS. Implementing a Big Data Solution on Behalf of a Media House TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES

QUICK FACTS. Implementing a Big Data Solution on Behalf of a Media House TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES [ Communications, Services ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES Client Profile (parent company) Industry: Media, broadcasting and entertainment Revenue: Approximately $28 billion Employees:

More information

Software Testing Business Models

Software Testing Business Models Software Testing Business Models Software Testing: Insourcing vs. Outsourcing vs. CrowdSourcing Overview: Before the Business Process Re-engineering wave, Big Enterprises had every business function of

More information

Facilitating a Windows 7 Upgrade and Application Packaging for a Major U.S. Bank

Facilitating a Windows 7 Upgrade and Application Packaging for a Major U.S. Bank Customer Success Stories TEKsystems Financial Services Facilitating a Windows 7 Upgrade and Application Packaging for a Major U.S. Bank FINANCIAL SERVICES NETWORK INFRASTRUCTURE SERVICES TECHNOLOGY DEPLOYMENT

More information

RISK IN INSURANCE COMPANIES

RISK IN INSURANCE COMPANIES RISK IN INSURANCE COMPANIES As of January 2016, the new risk framework Solvency II has become applicable in the Insurance world. Coupled with a low interest rate environment, its introduction can mean

More information

Business Process Services. White Paper. Five Principles to Consider when Consolidating your Finance and Accounting Function

Business Process Services. White Paper. Five Principles to Consider when Consolidating your Finance and Accounting Function Business Process Services White Paper Five Principles to Consider when Consolidating your Finance and Accounting Function About the Authors Vikas Golchha, Associate Vice President, TCS Vikas is part of

More information

Offshore Services in Latin America

Offshore Services in Latin America Regional Dialogue on Promoting Services Development and Trade in Latin America and the Caribbean 12 13 November 2013 Room Raul Prebish, ECLAC, Santiago Offshore Services in Latin America Mrs. Karina Fernandez

More information

Achieving High Performance: The Value of Benchmarking

Achieving High Performance: The Value of Benchmarking Achieving High Performance: The Value of Benchmarking Now I have the ammunition to foster change. With benchmarking, change agents have the facts they need to convince executives that a transformation

More information

Welcome to DUAL Australia

Welcome to DUAL Australia making relationships count Welcome to DUAL Australia Innovative solutions for complex insurances About Us DUAL Australia is a specialty lines underwriting agency focused on providing solutions to the mid

More information

QlikView for Life Sciences

QlikView for Life Sciences QlikView for Life Sciences Partnering for innovation and sustainable growth qlik.com A business model built for insight Success in today s life sciences industry requires insight into volumes of data,

More information

Overview and Frequently Asked Questions

Overview and Frequently Asked Questions Overview and Frequently Asked Questions OVERVIEW Oracle is pleased to announce that we have completed our acquisition of Siebel Systems and we are now operating as one. As the leader in customer relationship

More information

Master of Science in Marketing Analytics (MSMA)

Master of Science in Marketing Analytics (MSMA) Master of Science in Marketing Analytics (MSMA) COURSE DESCRIPTION The Master of Science in Marketing Analytics program teaches students how to become more engaged with consumers, how to design and deliver

More information

Today s Document Management System

Today s Document Management System Today s Document Management System Go Paperless; Go to the Cloud; Go Mobile; Foster Collaboration Paper-based processes are costly and inefficient. To be successful in today s challenging mortgage environment,

More information

Major Trends in the Insurance Industry

Major Trends in the Insurance Industry To survive in today s volatile marketplace? Information or more precisely, Actionable Information is the key factor. For no other industry is it as important as for the Insurance Industry, which is almost

More information

Solutions. Risk and Compliance Financial Control Solutions - For Insurance Companies

Solutions. Risk and Compliance Financial Control Solutions - For Insurance Companies Solutions Risk and Compliance Financial Control Solutions - For Insurance Companies Solutions The business landscape for insurance companies is changing. Investors are demanding protection alongside profit

More information

Accenture and Software as a Service: Moving to the Cloud to Accelerate Business Value for High Performance

Accenture and Software as a Service: Moving to the Cloud to Accelerate Business Value for High Performance Accenture and Software as a Service: Moving to the Cloud to Accelerate Business Value for High Performance Is Your Organization Facing Any of These Challenges? Cost pressures; need to do more with the

More information

Recruitment Process Outsourcing

Recruitment Process Outsourcing Recruitment Process Outsourcing (RPO) is a form of business process outsourcing (BPO) where an employer outsources or transfers all or part of its recruitment activities i i to an external service provider.

More information

The Evolving Role of Technology in Insurance KEY MANAGEMENT GROUP, INC

The Evolving Role of Technology in Insurance KEY MANAGEMENT GROUP, INC The Evolving Role of Technology in Insurance KEY MANAGEMENT GROUP, INC Key Trends Redefining the Agent s work in Insurance Market Insurance is slowly emerging from its traditional underwriting methods

More information

The Role of Internal Audit in Risk Governance

The Role of Internal Audit in Risk Governance The Role of Internal Audit in Risk Governance How Organizations Are Positioning the Internal Audit Function to Support Their Approach to Risk Management Executive summary Risk is inherent in running any

More information

INTERNATIONAL ASSOCIATION OF INSURANCE SUPERVISORS

INTERNATIONAL ASSOCIATION OF INSURANCE SUPERVISORS Standard No. 13 INTERNATIONAL ASSOCIATION OF INSURANCE SUPERVISORS STANDARD ON ASSET-LIABILITY MANAGEMENT OCTOBER 2006 This document was prepared by the Solvency and Actuarial Issues Subcommittee in consultation

More information

White Paper. Today s Document Management System: Go Paperless; Go to the Cloud; Go Mobile; Foster Collaboration

White Paper. Today s Document Management System: Go Paperless; Go to the Cloud; Go Mobile; Foster Collaboration White Paper : Go Paperless; Go to the Cloud; Go Mobile; Foster Collaboration Paper-based processes are costly and inefficient. To be successful in today s challenging mortgage environment, mortgage companies

More information

Financial applications for brand valuation

Financial applications for brand valuation Financial applications for brand valuation Delivering value beyond the number Creating and managing brand value TM $ $ $ $$ $ $ $ $ $ Interbrand Pg. 2 Financial applications for brand valuation Delivering

More information

Knowledge Process Outsourcing

Knowledge Process Outsourcing Business Process Outsourcing the way we do it Knowledge Process Outsourcing Harnessing Intellectual Arbitrage to Capture Value Introduction BPO has become an accepted and widely adopted way of doing business,

More information

WWT View Point. Journey to the Private Cloud: Take the First Steps with FlexPod

WWT View Point. Journey to the Private Cloud: Take the First Steps with FlexPod WWT View Point Journey to the Private Cloud: Take the First Steps with FlexPod TABLE OF CONTENTS 1...EXECUTIVE OVERVIEW 2...SECTION 1: THE ROAD TO PRIVATE CLOUDS 3...SECTION 2: START WITH A STABLE INTEGRATED

More information

Customer Needs Management and Oracle Product Lifecycle Analytics

Customer Needs Management and Oracle Product Lifecycle Analytics Customer Needs Management and Oracle Product Lifecycle Analytics Marc Charmetant Oracle EMEA Keywords: Innovation, Customer Needs Management, Requirements Management, Intelligence, Analytics, KPI, Dashboards,

More information

IDC MarketScape: Worldwide Life Science Sales and Marketing BPO 2015 Vendor Assessment

IDC MarketScape: Worldwide Life Science Sales and Marketing BPO 2015 Vendor Assessment IDC MARKETSCAPE IDC MarketScape: Worldwide Life Science Sales and Marketing BPO 2015 Vendor Assessment Eric Newmark THIS IDC MARKETSCAPE EXCERPT FEATURES: IMS HEALTH IDC MARKETSCAPE FIGURE FIGURE 1 IDC

More information

Why captives might be right for your business

Why captives might be right for your business Why captives might be right for your business Contents 1 What is a captive? 1 Why would I consider a captive as part of a more modern, flexible approach to risk finance? 1 2 How does a captive work? 2

More information

Accenture Parts Optimization: Warranty Services Gaining Control Over Warranty Costs

Accenture Parts Optimization: Warranty Services Gaining Control Over Warranty Costs Accenture Parts Optimization: Warranty Services Gaining Control Over Warranty Costs 2 Accenture Warranty Optimization Services: Gaining Control Over Warranty Costs The numbers are compelling: On average,

More information

BROADCASTING AND CABLE companies achieves operational excellence and innovative technological solutions through HCL s Managed Services Delivery Model.

BROADCASTING AND CABLE companies achieves operational excellence and innovative technological solutions through HCL s Managed Services Delivery Model. Verizon - One of the world s leading BROADCASTING AND CABLE companies achieves operational excellence and innovative technological solutions through HCL s Managed Services Delivery Model. CUSTOMER DESCRIPTION

More information

At the Heart of Connected Manufacturing

At the Heart of Connected Manufacturing www.niit-tech.com At the Heart of Connected Manufacturing Transforming Manufacturing Operations to Drive Agility and Profitability The success of the new manufacturing network hinges on the agility of

More information

White Paper. Trends in Hospital Professional Liability Operations. Macro Trends in Hospital Insurance Operations

White Paper. Trends in Hospital Professional Liability Operations. Macro Trends in Hospital Insurance Operations Trends in Hospital Professional Liability Operations White Paper Hospital systems today are facing an increasingly difficult operating environment. Revenues and reimbursements are decreasing, the capital

More information

IDC MarketScape: Worldwide Life Science Sales and Marketing ITO 2015 Vendor Assessment

IDC MarketScape: Worldwide Life Science Sales and Marketing ITO 2015 Vendor Assessment IDC MARKETSCAPE IDC MarketScape: Worldwide Life Science Sales and Marketing ITO 2015 Vendor Assessment Eric Newmark THIS IDC MARKETSCAPE EXCERPT FEATURES: IMS HEALTH IDC MARKETSCAPE FIGURE FIGURE 1 IDC

More information

Service. Lending Managed Services Increase Efficiency, Reduce Cost and Improve the Customer Experience Within Your Lending Operations

Service. Lending Managed Services Increase Efficiency, Reduce Cost and Improve the Customer Experience Within Your Lending Operations Service Lending Managed Services Increase Efficiency, Reduce Cost and Improve the Customer Experience Within Your Lending Operations Service As the new global economy continues to evolve, the success

More information

Global Outsourcing Services IT-BPO SERVICES OVERALL CAPABILITY

Global Outsourcing Services IT-BPO SERVICES OVERALL CAPABILITY Global Outsourcing Services IT-BPO SERVICES OVERALL CAPABILITY 1 ENHANCE PRODUCTIVITY AND EFFICIENCY WITH INVENSIS Today s business environment is synonymous with perpetual fluctuation, tight margins and

More information

Technology. Accenture Application Testing Services. Embedding quality into the application development life cycle

Technology. Accenture Application Testing Services. Embedding quality into the application development life cycle Technology Accenture Application Testing Services Embedding quality into the application development life cycle 1 Quality First for Better Outcomes IT costs are continuing to climb. Technology is getting

More information

Helping an oil and gas company maximize a business intelligence investment

Helping an oil and gas company maximize a business intelligence investment Customer Success Stories TEKsystems Global Services Helping an oil and gas company maximize a business intelligence investment ENERGY SERVICES DATA SERVICES Executive Summary A Fortune 500 oil and gas

More information

Transforming a Large-Enterprise Mailroom:

Transforming a Large-Enterprise Mailroom: Transforming a Large-Enterprise Mailroom: DATAMARK delivers a facility-managed solution Insurance and Financial Services Case Study www.datamark.net CASE STUDY BACKGROUND The client is a highly successful,

More information

Outsourcing, Offshoring, and Importing Actuarial Talent

Outsourcing, Offshoring, and Importing Actuarial Talent Outsourcing, Offshoring, and Importing Actuarial Talent Jim Rowland, FCAS, MAAA Sr. Actuary, Allstate Insurance Company CAS Annual Meeting, Seattle, WA November 17, 2008 Outsourcing/Offshoring Among P&C

More information

Succeeding with Business Process Outsourcing

Succeeding with Business Process Outsourcing A P P L I C A T I O N S A WHITE PAPER SERIES COMPANIES ARE SEEKING NEW WAYS TO STREAMLINE PROCESSES, REALIZE FURTHER COST REDUCTIONS AND INCREASE TIME-TO-MARKET. MANY ORGANIZATIONS ARE CONSIDERING BUSINESS

More information

Transformation in Commercial Operations : Today s Life Sciences and Pharmaceutical Industry

Transformation in Commercial Operations : Today s Life Sciences and Pharmaceutical Industry LIFE SCIENCES Transformation in Commercial Operations : Today s Life Sciences and Pharmaceutical Industry Balkrishan Kalra, Senior Vice President, Genpact Genpact commissioned a study through Pilgrim Partners

More information

QUICK FACTS. TEKsystems provides QA Testing and Applications Development support for a leading insurance provider

QUICK FACTS. TEKsystems provides QA Testing and Applications Development support for a leading insurance provider Providing an IT Education Business Processing [ Financial Services, QA and Testing ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES Client Profile Name: Seven Corners, Inc. Industry: Insurance Revenue:

More information

Business Process Transformation A Pulse Check

Business Process Transformation A Pulse Check White Paper Business Process Transformation A Pulse Check Over the last decade or two, two trends have been noticeable across all businesses. The move towards consolidation of office-based operations,

More information

INSERT COMPANY LOGO HERE

INSERT COMPANY LOGO HERE INSERT COMPANY LOGO HERE 2014 Frost & Sullivan 1 We Accelerate Growth Market Leadership Award Big Data Analytics Data Discovery and Visualization Global, 2014 Frost & Sullivan s Global Research Platform

More information

QUICK FACTS. Transitioning On-Site Support to an Off-Shore Model on Behalf of an Insurance Provider

QUICK FACTS. Transitioning On-Site Support to an Off-Shore Model on Behalf of an Insurance Provider [ Financial Services, Application Development and Management ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES QUICK FACTS Client Profile Industry: Insurance Revenue: More than $68 billion Employees:

More information

A BPM Partners White Paper. Beyond Chargeback: Internal Cost Transparency for Better Decisions

A BPM Partners White Paper. Beyond Chargeback: Internal Cost Transparency for Better Decisions A BPM Partners White Paper Beyond Chargeback: Internal Cost Transparency for Better Decisions March 2010 2010 BPM Partners, Inc. All material contained in this document remains the property of BPM Partners

More information

Physician Enterprise The Importance of Charge Capture, Business Intelligence and Being a Data Driven Organization

Physician Enterprise The Importance of Charge Capture, Business Intelligence and Being a Data Driven Organization Physician Enterprise The Importance of Charge Capture, Business Intelligence and Being a Data Driven Organization Executive Summary Physician-hospital alignment is a key strategy for most hospitals across

More information

Your Recruitment Process & the Recovery:

Your Recruitment Process & the Recovery: Hr WHITEPAPER Your Recruitment Process & the Recovery: Strategies for Success By Josh Sorkin & Jesper Bendtsen P CONTENTS INTRODUCTION: Why Do Companies Outsource? THE Recruitment Models: An Overview Strategies

More information

Global Headquarters: 5 Speen Street Framingham, MA 01701 USA P.508.872.8200 F.508.935.4015 www.idc.com

Global Headquarters: 5 Speen Street Framingham, MA 01701 USA P.508.872.8200 F.508.935.4015 www.idc.com WHITE PAPER Networking Skills in North America: Trends, Gaps, and Strategies Sponsored by: Cisco Learning Institute Cushing Anderson Marianne Kolding May 2008 Susan Lee Global Headquarters: 5 Speen Street

More information

Spreadsheet use in Solvency II Internal Models. Jothi Philip Financial Services Authority 05 July 2012

Spreadsheet use in Solvency II Internal Models. Jothi Philip Financial Services Authority 05 July 2012 Spreadsheet use in Solvency II Internal Models Jothi Philip Financial Services Authority 05 July 2012 Agenda FSA Data Review Spreadsheet use in Internal Models Spreadsheet controls Conclusion Questions

More information

Finance and Insurance Workforce Summit. Linda Leadbitter, VP HR Aon Americas March 15, 2007

Finance and Insurance Workforce Summit. Linda Leadbitter, VP HR Aon Americas March 15, 2007 Finance and Insurance Workforce Summit Linda Leadbitter, VP HR Aon Americas March 15, 2007 0 Aon Corp Overview Headquartered in Chicago, IL 500 offices in more than 120 countries 46,000 employees $9.0

More information

IDC MarketScape: Worldwide Manufacturing Service Life-Cycle Management SI/BPO 2015 Vendor Assessment

IDC MarketScape: Worldwide Manufacturing Service Life-Cycle Management SI/BPO 2015 Vendor Assessment IDC MarketScape IDC MarketScape: Worldwide Manufacturing Service Life-Cycle Management SI/BPO 2015 Vendor Assessment Heather Ashton THIS IDC MARKETSCAPE EXCERPT FEATURES: WIPRO IDC MARKETSCAPE FIGURE FIGURE

More information