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Insurance

Forms Modernization Solutionfor Insurers

ServiceLine (LOB)

Feasibility Check

Forms Inventory Forms Feasibility Project Management

Forms Analysis

1. Inventory2. Scope3. Timeline

1. Traceability Matrix2. Metadata3. Content Analysis

(Creative Design) (Infrastructure)

UpdatedTraceability Matrix

Forms Rationalization

Regulatory / Legal/ Marketing

(Rationalization Bucket) Forms Validation

Forms Design

Review Acceptance

Artifacts

(Proof Reading)

Governance

Process Compliance

The insurance industry is in a constant state of flux, driven by economic conditions, changing regulations,

shifting demographics and digital technologies. These factors have created a whole new set of customer

expectations, driving the need to evolve traditional models, support new insights and efficiencies, and

actively engage with customers to insure satisfaction. Although the industry is progressing towards a less

paper-intensive workflow to make the most of every touch point, a significant amount of the information

in the insurance lifecycle is still in the form of paper documents.

Tata Consultancy Services’ (TCS’) Forms Modernization solution supports business and IT transformation

by helping create personalized, targeted, consistent, and regulatory compliant communications -

appropriate to the distribution channel. Our offering enables insurers to drive business transformation,

address regulatory and compliance needs, improve time to market, reduce maintenance cost and

increase agility.

OverviewLegacy applications supporting insurance processes are undergoing modernization to enable them to provide a digital experience as well as engaging content, consistent with the brand image. However, two big hurdles stand in the way of policy admin modernization and shorter go-to-market timeframes. Insurers have large volumes of existing forms and documents - an integral part of every insurance offering- that need to be converted to digital formats. And their legacy platforms use closely bundled code for form generation rules, triggers, and display, making it difficult to segregate and costly to maintain. These make it challenging to introduce new insurance products and services or revamp existing ones. Insurers therefore need a new level of agility that requires a scalable and flexible forms solution.

TCS’ Forms Modernization solution enables insurers to derive more from their legacy modernization initiatives. Our solution provides a consistent customer experience driven by branding, quicker time to market for products and reduced maintenance cost. This modernization offering has all the necessary ingredients to manage the Experience, manage Transformation, and manage the Operations. TCS has a highly evolved methodology that has been proven in multiple projects which ensures successful implementations, living up to our tagline “Experience certainty”.

Our SolutionWe offer:

n Reverse engineering services: Extract the rules, templates and print instructions from legacy applications

n Forms rationalization and design services: Create forms that improve customer experience, brand adherence, clarity and usability

n Forms authoring services: Author forms, templates, rules, input data, contents and package instructions in HP Exstream, EMC Xpression, Oracle Documaker, Thunderhead, Adobe Livecycle and other industry leading tools

n Data integration: Gather necessary data from functional applications to minimize needs of co-existence and custom entry-points

n Distribution services: Provide mail room services, including but not limited to document packaging, sorting, bundling and delivering

n Document management services: Facilitate document storage, archival, version control, security and workflow services in Documentum, FileNet and other products using the right meta-data.

n Forms validation and assurance services: Validate the program to ensure that the new system meets the stated business outcomes including standardization, consistency, accuracy, and operational economies through:

n End to end functional testing

n Proof reading

n Page content validation

n Localization testing

n Accessibility testing

n Balancing logic validation

n Implementation services: Validate, test and deploy the necessary functional components and create an implementation plan with multiple rollouts

The TCS AdvantageWith TCS' Forms Modernization solution, insurers can realize benefits across the board, including:

n End-to-end solution from strategy through implementation: We leverage our vast experience in executing Forms Modernization programs to deploy a modernized platform that helps boost customer experience, compliance adaptation, and speed-to-market.

n Mature and proven Factory Model: Our factory setup helps improve engagement productivity, reduce schedule slippage, and address complexity.

n Design and User Experience expertise: TCS’ design practice brings specialized User Experience knowledge to forms and document generation related projects, allowing our clients to boost the readability and intuitiveness of their documents. TCS’ design services combine strategy and research to improve user experience by leveraging our award-winning forms design, mock-up tools, and more.

n Transformation and Digital Reimagination capabilities: TCS’ reverse engineering rules experts analyze the legacy code base from various applications, extract and classify the rules. As part of extraction, we eliminate the obsolete rules and configure workable IT and business rules into the rule engine, thus streamlining the code base and reducing maintenance overheads.

BenefitsWith TCS’ Forms Modernization solution, insurers can realize benefits across the board, including:

Business

n Simplify form changes implementation within six to eight working days, that address state filing needs

n Enhance customer experience across print and eDelivery channels

n Carry the right set of forms for future [Average rationalization efficiency is around 40%]

n Improve flexibility and reduce operational cost by 25% with system simplification

n Consolidate and integrate IT systems, leveraging a single solution for all letters, Dec Pages, ID cards, certificates, checks, and others

Operations

n Reduce costs by up to 20% by eliminating postage and paper overheads

n Improve customer response by nearly 25% with actionable and intuitive forms

n Reduce maintenance overheads by rationalizing forms to eliminate duplicates, remove obsolete forms, identify opportunities to split or merge forms, enforce branding, improve readability and enable future forms governance

A high level overview of the Forms Factory