A Fortune 500 Annuities and Life Insurance Corporation in the U.S. Leveraged End-to-End Automation to Revitalize its Actuarial IT Processes

Visionet delivered end-to-end process automation of Actuarial IT for a Fortune 500 firm and one of the largest providers of annuities and life insurance in the U.S.

Challenges

The client was using a leading Actuarial solution to manage the Actuarial processes. One of the challenges the client was facing was the unstable nature of the IT environment, the lack of standardized processes, and the lack of support.

Solution

Team Visionet fully leveraged comprehensive process automation for their actuarial IT area. Providing an all-encompassing solution, Visionet helped the corporation build the common re-usable BPM models

Impact

  • Shrinking closing cycle time by 30%
  • Reduced data preparation time by 40%
  • Faster product roll-outs
  • Significant cost reductions of Actuarial IT systems
  • More autonomy and less dependency on vendors

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