InsuranceThe success of an organization in the market place is determined by its ability to quickly respond to the market needs, the efficiency of its support functions to service the customers and its ability to launch innovative products before its competitors. The growing pressure on margins means, the insurer needs to optimize the processes to reduce cost and to deliver services to the end customers in an efficient manner.

Wipro has worked with numerous clients in the insurance industry across the globe, and over the years have gained a good perspective of the challenges faced by the industry. Wipro consultants have worked on many transformation projects wherein the business challenges are addressed both from technology and business perspectives. To achieve this, Wipro has created a specialized Business Technology Group (BTG) comprising a team of consultants with in depth business knowledge and technical expertise in designing and delivering solutions.

Wipro has a dedicated team of 3,500 strong technology and business professionals working with various global insurers and bring specialized software application and geo specific business processes knowledge. Many of our insurance business consultants possess industry standard certifications like FLMI, ACII, and CPCU.

Wipro’s Insurance function focuses on all the lines of businesses: Life Insurance, Pensions & Annuities, Property & Casualty, Reinsurance and Broking. Wipro has executed a large number of projects spanning  the entire insurance value chain, providing expert solution in the areas of:

• Customer acquisition
• Policy administration
• Distribution management
• Regulatory compliance & reporting
• Actuarial modeling

Wipro has helped its clients in reengineering their business processes to achieve higher operational efficiency and better leverage their IT investments.

Besides providing core services like application development, maintenance and reengineering, Wipro also provides specialized services in the areas of:

• Legacy to web integration
• Building business intelligence and data mining
• Customer relationship management
• Enterprise application integration
• IT Infrastructure consulting, integration and management
• Process consulting

Wipro is also actively involved with industry standards organizations like ACORD, ORIGO in implementing their standards. Wipro is also involved with various industry bodies like LOMA, LIMRA and NIA and participates in industry specific studies and seminars.