| Case Study |
| |
Patni extends offshoring to new life product implementations |
|
|
A global insurance client maintains its leadership position in the highly demanding 'new business' market by opting for Patni's offshoring services to gain significant cost-savings and reduction in time-to-market
The Client
A large Fortune client dealing in life insurance and annuities.
The Challenge
The client's business expansion plans called for frequent upgrading and expanding of its product portfolio as a key strategy to expand its customer base. A dedicated product development team consisting of Subject Matter Experts from various areas like actuarial, legal, business and IT managed the implementation of its new life products. The client required to judiciously augment its product development IT team, to maintain its leadership position in the highly demanding 'new business' market
Patni offered the client an offshoring option to enable multiple product implementations to be carried out concurrently. Its large resource pool with deep domain knowledge in life insurance and vast experience in Cyberlife, besides its proven onsite-offshore capability made Patni a natural partner to meet this outsourcing requirement.
The Solution
Patni's solution primarily focused on ensuring a well-planned process for knowledge and responsibility transition from the client to its offshore resource team. Patni also fine-tuned its onsite-offshore model to leverage the associated cost-benefits for the client
For an initial period of 6 months, the client was responsible for product analysis, preparation of technical design, and unit & regression testing; whereas Patni's offshore team was involved in coding. With the successful implementation of its transition plan, Patni gradually managed the entire IT life cycle of product implementation from its offshore facility.
The Technology
 |
System: Mainframe IBM |
|
3090Languages: COBOL, CICS, IBM Assembly, Easytrieve
|
|
Database: VSAM.
|
| |
 |
The Benefits
|
Successful implementation of Patni's transition plan enabled a complete shift to offshore product implementation. |
|
Patni's strong knowledge management processes helped in reducing the product gap analysis time
|
|
Patni's proprietary tools helped in automating product testing
|
|
Patni's domain knowledge and Cyberlife expertise enabled a 25% reduction in time-to-market for new life products.
|
|
The client achieved an overall annual savings of USD 200,000 by outsourcing its product implementation to Patni's offshore team.
|
Achievements
This ongoing relationship has proven Patni's experience in complex product implementations from offshore, for various life insurance product lines like Term, UL, SUL and Group Life. A 200% ramp-up of the team, since project start, has further earned the client's confidence in our capabilities
Client Testimonial
“The team delivered well above and beyond our expectations and with greatest of attitudes. You are the very best. Thanks to everyone for one outstanding year for NPI. “
Manager, New Product Introduction
|
|
