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Annuities

Life insurers are facing challenging economic times over the past few years with issues such as low interest rates, compliance with Internal Revenue Code, FINRA, individual state regulations, and growing operational costs. Insurers are responding by reinventing the traditional ways of doing business.

NIIT Technologies’ Insurance Practice integrates its annuities business process delivery with insurance industry IT expertise to deliver greater profitability for carriers – and RoI for clients. We leverage our skills to enhance efficiency, performance, quality, and accuracy. We help you streamline regulatory compliance capabilities while increasing brand equity and customer satisfaction levels.

Key Features

  • New Business
  • Payments
  • Imaging and Admin Services
  • Service requisition and reallocation
  • Financials
  • Management and admin
  • Quality assurance

Business Benefits

  • Achieves 15 % post transition productivity gains within 12 months
  • Attains efficiency gains of 20% in less than a year after go-live
  • 100% delivery more than a month ahead of the plan
  • Increases scope without increasing the number of FTEs as a result of process reengineering
  • Reduces financial losses from erroneous or delayed processing
  • Achieves customer satisfaction (CSAT) benchmarks
  • Processes 700,000 transactions per year
  • Meets 100% SLAs since steady state
  • Delivers 40% annual cost savings