Insurance
The Challenge Facing Insurance Companies Today
Insurers face mounting pressure to improve profitability, which is directly linked to their ability to accurately assess risk, manage relationships and achieve operational efficiencies. Many are hamstrung by multiple legacy IT systems and processes that force them to view their business in terms of product “silos.”
Insurers must also satisfy:
- Regulators who demand better risk management
- Customers who want up-to-date, highly competitive products
- Agents who need better ways of doing business
The Answer
Data from disparate sources must be integrated. By transforming their processes and operations to provide improved access to information, insurers can:
- Eliminate product-oriented “silos”
- Distribute integrated data to sales and self-sufficient customers
- Provide the ability to view and update multiple products within a single transaction
- Rationalize and decommission legacy systems to improve profitability
- Eliminate inefficient back-office processing functions
- Tightly couple the corporate office to the distribution channel
- Improve the quality of service in the distribution channel
EDS, an HP company, has the core capabilities you need to transform your business and embrace new opportunities. For more than 30 years, we've been a leader in providing information technology to the financial services industry. By leveraging our industry experience and leading-edge-technology insight, you can focus on developing new products and services that distinguish you in the marketplace. We offer these services to help insurers meet their critical needs:
- Applications Modernization Services
- SOA & Integration Services
- Applications Development Services
- Write Your Own Flood Services
- Life & Annuity Services
The Results
With EDS as your ally, your organization will uncover new ways to enhance productivity, regulatory compliance and customer relationships while realizing both cost savings and top-line revenue growth. With our help:
- A non-profit insurance organization with 5 million members optimizes its backroom IT operations to realize a projected five-year net benefit of $29.5 million
- A leading provider of extended service plans launches a next-generation consumer portal with expanded functionality that leads to a 500 percent increase in online registrations
- One of the largest insurance companies in the United States transforms its contact-center operations, saving more than 40 percent on customer-support expenses through a lower cost per call and a reduction in rework
The insurance industry is information driven. Companies that embrace information sharing enjoy a competitive advantage. In EDS, you have a partner who can help you make the most of your opportunities.
- Read our Insurance Industry case studies
- Read the Insurance Overview PDF, 338K
- See our services related to the Insurance Industry
Insurance Industry Contact Information
EDS Financial Services Leader: Michael Coomer
Michael Coomer is the global leader of EDS' Global Financial Services group. He brings to this position more than three decades of information technology (IT) experience, including deep expertise across the financial services, telecommunications and defense industries. As global leader, he works to strengthen the company's market share in the global financial services arena, which represents more than $4 billion in annual revenue for EDS in 30 countries.
Read the Michael Coomer biography.
EDS Vice President, U.S. Financial Services Industry: Mark DeBenedictus
Mark DeBenedictus is vice president of U.S. Financial Services. He is responsible for leading business operations and driving growth in this multibillion dollar market including banking, insurance and capital markets. In this role, DeBenedictus oversees development of industry strategy, client relationships, and go-to-market plans for industry solutions and business partners in Canada, Mexico and the United States.
Download the Mark DeBenedictus biography.
For more information about what EDS can do for you, submit a business inquiry.
Financial Services Industry
Behind the success of the world's leading financial institutions is an ally, EDS. Helping with CRM, business process outsourcing, check processing, and consumer card and loan services, EDS minimizes their costs and optimizes their productivity.