SOURCE: HCL Technologies

June 25, 2008 10:00 ET

HCL Technologies Selected by Missouri Employers Mutual

HCL to Partner on Guidewire ClaimCenter® Implementation and Drive IT Transformation for MISSOURI Employers Mutual's Claims Processing

SUNNYVALE, CA--(Marketwire - June 25, 2008) - HCL Technologies Ltd. ("HCL"), India's leading global IT services company, today announced Missouri Employers Mutual (MEM), the state's workers compensation market leader, has selected HCL as the systems integrator for implementing Guidewire ClaimCenter® as its new claims system. HCL will assist Missouri Employers Mutual in the configuration, integration, data conversion and claims reporting aspects of the Guidewire ClaimCenter implementation, serving as the firm's IT partner and driving its transformation in claims processing.

"HCL's extensive experience implementing market leading claims and policy administration packages with investments in implementation solution accelerators have delivered low-risk and cost effective solutions to property and casualty carriers for many years," said Prasanna Satpathy, senior vice president and head, Banking, Financial Services and Insurance Group, HCL America. "We look forward to collaborating with Missouri Employers Mutual to streamline and reduce risk in the claims transformation process and increase value to their customers."

Guidewire ClaimCenter enables innovation in claims, using flexible business rules to optimize the claim process and automatically monitor all operations to catch exceptions and eliminate errors. ClaimCenter's modern architecture, web client, XML-based configuration and web services support ensure lower total cost of ownership in any environment. Claims executives can define and enforce their preferred claim handling practices, and can refine those practices over time.

"We see successfully implementing ClaimCenter as critical to delivering the level of customer service encompassed in the vision and mission of MEM. Therefore, selecting the right implementation partner was very important to us. HCL's experience, breadth of resources and flexible sourcing options made them an excellent fit for what we are trying to accomplish," said Michael Foerst, CIO, Missouri Employers Mutual. "We are pleased with HCL's implementation approach in a global delivery model leveraging the proposed solution accelerators in areas of data conversion, integration and reporting related to claims."

HCL's Global Insurance Practice offers business-driven technology solutions to the insurance industry worldwide, with in-depth experience and competence in domain, technology, tools and test methodologies that help customers cope with today's complex business challenges in the insurance sector.

HCL pioneered the concept of setting up an independent Insurance Solutions Development center to focus on delivering unparalleled domain and technology skills for global insurers. The dedicated center in India has successfully completed more than 100 major insurance assignments spanning life insurance, P&C insurance and reinsurance.

About Missouri Employers Mutual Insurance

MEM is the No. 1 workers compensation insurance company in Missouri. Headquartered in Columbia, MEM is a mutual insurance company benefiting its policyholders -- the employers of Missouri. With offices located in Springfield, Kansas City and St. Louis, MEM is dedicated to providing policyholders with exceptional customer service, quality loss prevention expertise and timely, personal claims management. MEM's mission is to provide innovative, cost-effective solutions employers need to create safe, healthy and injury-free workplaces, and is committed to building long-term, sustainable growth to maximize policyholder value. For more information please visit http://www.mem-ins.com.

About HCL's Banking, Financial Services and Insurance Group

HCL Technologies' Banking, Financial Services and Insurance Group is built on domain competencies spanning Retail and Corporate Banking, Capital Markets and Insurance. Partnering with this large financial institution, HCL has delivered significant transformational projects that go beyond cost reduction, offering value additions through productivity gains and value multiplication through redesigned and reengineered processes. HCL's Retail and Corporate Banking Services practice is aligned on the basis of the expertise and capabilities the company has acquired in the various micro-verticals of core banking, loans and mortgages, treasury and cash, trade finance, cards, multi-channel and private banking. The company's Global Insurance Practice, driven through a dedicated Insurance Service Development Centre, has proven delivery capabilities in Life Insurance and Pension, Property and Casualty Insurance (Non-life insurance) and Reinsurance. For more information please visit http://www.hcltech.com/financial-services/.

About HCL Technologies

HCL Technologies is one of India's leading global IT Services companies, providing software-led IT solutions, remote infrastructure management services and BPO. Having made a foray into the global IT landscape in 1999 after its IPO, HCL Technologies focuses on Transformational Outsourcing, working with clients in areas that impact and re-define the core of their business. The company leverages an extensive global offshore infrastructure and its global network of offices in 18 countries to deliver solutions across select verticals including Financial Services, Retail & Consumer, Life Sciences & Healthcare, Hi-Tech & Manufacturing, Telecom and Media & Entertainment (M&E). For the quarter ended 31st March 2008, HCL Technologies, along with its subsidiaries had last twelve months (LTM) revenue of US $ 1.8 billion (Rs. 7083 crores) and employed 49,802 professionals.

About HCL Enterprise

HCL Enterprise is a $ 4.8 billion leading Global Technology and IT Enterprise that comprises two companies listed in India -- HCL Technologies & HCL Infosystems. The 3-decade-old enterprise, founded in 1976, is one of India's original IT garage start-ups. Its range of offerings span Product Engineering, Custom & Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products. The HCL team comprises over 55,000 professionals of diverse nationalities, who operate from 18 countries including 360 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information, please visit www.hcl.in.

Forward-Looking Statements

Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

Contact Information

  • For details contact

    HCL Technologies
    Kirsten Paragona
    Phone: +1 978 356 3342
    E-mail: Email Contact

    Citigate Cunningham
    Michelle Saturley
    Phone: +1 617 374 4243
    E-mail: Email Contact