HDFC Standard Life Insurance Company, India

Ibexi has provided a broad range of services to HDFC Standard Life Insurance (HDFC-SL) in a number of projects. Some of the areas in which Ibexi consultants have lent their expertise are:

Project: Migration of their system from ELife to LifeAsia

HDFC-SL were using ELife(from First Apex) and decided to switch to LifeAsia (from CSC). It was critical for HDFC-SL to complete the migration in time, as the Unit Linked products were already live in LifeAsia and there can be no time gaps while moving to the new system, especially in the high-volume rapidly growing Indian Insurance Industry.

The migration exercise involved getting the data from Elife to LifeAsia. Both the systems were very different in design, approach and platform.

Since Ibexi consultants were familiar with insurance applications, they played a very important role in this project. Ibexi consultants worked closely with application vendor in getting the requirement, getting the data in the required format.

The data migrated covered the entire operations of individual life business. While migrating the data, Ibexi consultants also found the potential areas of conflict and corrected them before pushing the data into the new application. They explained the mapping of data across systems, and provided ways to reconcile the data. They also provided functional inputs to enable quick resolution of problems such as client data and policy data.

Project: Business analysis and OLAP for LifeAsia

HDFC Standard Life(HDFC-SL), the joint venture between Housing Development Finance Corporation a major business group and Standard Life, UK one of the leading insurance companies worldwide, chose LifeAsia from CSC for policy administration.

There was a critical need for reporting considering that the system cutover to LifeAsia was already underway. Ibexi consultants by virtue of their in-depth knowledge about the reporting requirements, built a staging database for reporting and also analytical data marts. Using Cognos Impromptu and PowerPlay on DB2, these provided the end-users with the flexibility to slice and dice the data using various cubes for specific requirements. It also help them empower the report generation.

The highlights of this project are:

• The cube generation takes about 10 minutes against 8 - 10 hours in the previous system.
• The project started while the migration was in the later stages and by the time the users got settled with the new system, the MIS was up and ready to cater to all their reporting requirements and functional cubes for top management.

Project: Reporting Requirements for Staffware

HDFC Standard Life chose Staffware for their workflow solutions. There was an acute need for various reports from the end-users for analyzing the TAT from various angles. Ibexi Consultants developed the catalog using Cognos Impromptu within two weeks. This empowerment of the users was widely acknowedged by HDFC Standard Life as it brought down the turnaround time for new reports.

Project: Agency Portal

HDFC Standard Life were launching a portal for their agency force. The data needed was to come from two systems Elife and LifeAsia. Ibexi Consultants played a very important role in extracting the data, which involved very complex queries. Ibexi had a major role to play in launching this prestigious project.