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A Leading Global Insurer

 

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A leading global insurance provider serving 90 million customers worldwide with a portfolio size of over INR 10000 Cr. chose Credence

Business Challenge

This Client faced a unique challenge of using different Systems for Front and Back Office. This led to data duplication / inconsistency issues. Another challenge was compliance. The Company had to meet strict reporting and controls guidelines from the regulator.

Solution

  • The Client chose iDEAL Funds - being an STP solution - with seamless integration across Front, Mid and Back Office
  • iDEAL Funds offered off-the-shelf modules for compliance to the India Insurance regulator and NAV module for in-house NAV computations of ULIP schemes. This enabled the Client to achieve faster go-live."

Results

  • Elimination of reconciliation issues caused by multiple systems
  • Compliance to regulatory and audit requirements
  • Better, cost effective maintenance and support.

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