India Professional Services Centre of Excellence Helps Life
Insurance Provider Improve efficiencies in its Operations and Drive
Customer Satisfaction
WATERLOO, Ontario and NEW
DELHI, Dec. 13, 2017 /CNW/
-- OpenText™ (NASDAQ: OTEX, TSX: OTEX), the global leader in
Enterprise Information Management (EIM), and DHFL Pramerica Life
Insurance, one of India's
fastest-growing life insurance companies, today announced
completion of a large-scale digital transformation project that has
digitized key business processes at DHFL Pramerica Life Insurance,
from creating insurance policy documents to managing new insurance
agents and channel partners.
"Our customers are demanding a dynamic digital experience from
us as an insurance company," said Anoop
Pabby, Managing Director & CEO of DHFL Pramerica Life
Insurance. "Shifting our operations to a digital-first approach is
helping us manage our rapid growth while continuing to scale our
high-level of customer service. Our customers and insurance agents
are responding well to these changes."
"India is a strategic part of
OpenText's future," said Mark J.
Barrenechea, Vice Chairman, CEO and CTO, OpenText. "DHFL
Pramerica Life Insurance is showing that embracing digital
technologies to deliver world-class customer experiences and
intelligent automation of business systems can generate meaningful
growth."
"Working with OpenText has provided us with the expertise to
implement technology solutions that enable our business success,"
said Mayank Bhargava, Chief
Information Officer at DHFL Pramerica Life Insurance. "OpenText's
Indian Professional Services Centre of Excellence has been
instrumental in supporting our team as we move to a paperless
future, and their expertise is helping us to innovate across the
organization."
As part of a multi-year contract, OpenText will provide DHFL
Pramerica Life Insurance with implementation support and managed
services to maintain their digital solution and support long-term
user adoption and satisfaction.
"Our partnership with OpenText has brought a refreshing,
progressive approach to building operational stability," said
Vishal Chopra, EVP & Head
Operations at DHFL Pramerica Life Insurance. "This engagement with
OpenText to deliver managed services has helped ensure that the
right technology and talent mix is in place to deliver a
fully-digital operation. Using OpenText managed services has
allowed our internal teams to focus their time and energies on
creating superlative customer experiences and innovative insurance
products. This has helped reduce our turnaround times & speed
to market as well."
DHFL Pramerica Life Insurance has deployed OpenText Content
Suite to generate and manage customer-facing documents, such as
insurance quotes and policies. The life insurance sales process
often requires customers to provide multiple forms and pieces of
documentation. OpenText Content Suite helps to securely manage this
sensitive information.
OpenText Process Suite seamlessly enables policy processing
across multiple teams at DHFL Pramerica Life Insurance. Process
Suite is also being used to automate interactions with insurance
agents, ensuring that this important sales channel can rapidly
deliver quotes and information that comply with regulatory
requirements and business rules.
This solution helps ensure that key business processes, content,
and information are delivered to customers, partners, employees and
agents securely across both desktop and mobile environments.
As part of this solution, OpenText manages multiple digital
platforms at DHFL Pramerica Life Insurance. By leveraging the
expertise and flexibility of OpenText Managed Services, DHFL
Pramerica Life Insurance can bring new insurance services to new
market rapidly, scaling-up technology resources where
necessary.
"We are happy to be part of DHFL Pramerica's transformation into
a digital insurer and continue to help DHFL Pramerica Life
Insurance unlock the value of their investment," said Manoj Nagpal, Vice President, OpenText,
India. "As experts in Enterprise
Information Management, OpenText is committed to supporting its
customers in their digital transformation."
About DHFL Pramerica Life Insurance Company
(DPLI)
DPLI is a joint venture between DHFL Investments
Limited (DIL), a wholly-owned subsidiary of Dewan Housing Finance
Corporation Ltd. (DHFL), one of India's largest housing finance companies (the
second largest in the private sector) and Prudential International
Insurance Holdings, Ltd. (PIIH), a fully owned subsidiary of
Prudential Financial, Inc. (PFI), a financial services leader
headquartered in the U.S. DPLI represents the coming together of
two renowned financial services organizations with a legacy of
business excellence spread over decades.
DPLI has a pan India presence
through multiple distribution channels which have been customized
to address the specific insurance needs of diverse customer
segments. The Company is committed to providing protection and
quality financial advice to its customers. For further information
on the Company, please visit www.dhflpramerica.com.
About DHFL
DHFL was founded in 1984 by Late Shri
Rajesh Kumar Wadhawan with a vision to provide financial access for
Indians to own a home of their own. Today, led by Mr. Kapil Wadhawan, CMD, DHFL, the company is CARE
Triple A rated and reckoned as one of India's leading financial institutions with a
large presence across the country, in addition to representative
offices in Dubai and London.
Throughout its years of growth, DHFL has stayed true to its core
vision of financial inclusion, especially to the low and middle
income customers across India. The
company's wide network, coupled with insights into local customer
needs, has enabled the company to provide meaningful financial
access to customers even in India's smallest towns. With a strong business
foundation, an extensive distribution network, proven industry
expertise and a deep understanding of the Indian customer, DHFL is
a respected and trusted financial services company in India with a concerted focus towards enabling
home ownership to the low and middle income customer. For further
information, please visit www.dhfl.com.
About PFI
PFI, a financial services leader with
$1.366 trillion of assets under
management as of September 30, 2017,
has operations in the United
States, Asia, Europe and Latin
America. Prudential's diverse and talented employees are
committed to helping individual and institutional customers grow
and protect their wealth through a variety of products and
services, including life insurance, annuities, retirement-related
services, mutual funds and investment management. Prudential
International Insurance Holdings & Prudential Financial Inc. of
the United States are not
affiliated with Prudential Plc, a Company incorporated in the
United Kingdom. In the U.S., PFI's
iconic Rock symbol has stood for strength, stability, expertise and
innovation for more than a century. For more information, please
visit www.news.prudential.com.
About OpenText
OpenText, The Information
Company™, enables organizations to gain insight
through market leading information management solutions,
on-premises or in the cloud. For more information about OpenText
(NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
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Certain statements in this press release may contain words
considered forward-looking statements or information under
applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Unless otherwise required by applicable
securities laws, OpenText disclaims any intention or obligations to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Copyright © 2017 Open Text. All rights reserved. OpenText is a
trademark or registered trademark of Open Text. The list of
trademarks is not exhaustive of other trademarks. Registered
trademarks, product names, company names, brands and service names
mentioned herein are property of Open Text or other respective
owners.
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