Engagement will leverage industry best practices and automation technologies to provide up to 55% cost savings over three years
Mumbai – November 15, 2016 – Leading global IT services and solutions provider L&T Infotech (NSE: LTI, BSE: 540005) announced today that it has been awarded a five-year contract by Hartford Steam Boiler (HSB), a leading specialty insurer with 150 years of industry leadership in equipment breakdown insurance and a subsidiary of Munich Re. HSB provides equipment breakdown, inspection services, engineering-based risk management and other specialty coverages that set the standard for excellence worldwide.
A key objective of this engagement is to deliver innovation & efficiency improvements through:
- Transitioning management of over 100 applications to a managed services model enabling HSB to manage by outcomes with an SLA driven approach.
- Supporting a wide variety of legacy and modern technologies such as MS Dynamics, PeopleSoft, MS SharePoint, .NET, Cognos, among others.
- Providing applications maintenance services like monitoring, incident management, problem management and enhancement services like assurance, release management and deployment
- Process, platform and architecture standardization including application decommissioning
There are other opportunities available to HSB including LTI’s automation platform, MOSAIC Automation to deliver substantial digital platform opportunities focused on generating revenue and cost reduction.
Core business areas covered as part of the engagement include policy administration, claims, engineering, reporting, financial systems, and underwriting.
“We chose Larsen & Toubro Infotech’s managed application services because we anticipate that it will reduce our costs, permit us to better manage the ongoing support of numerous systems and allow us to focus our internal expertise on our group transformation and digital initiatives,” said Ron Vernier, chief information officer, HSB Group.
“We are delighted to be chosen as a strategic partner by HSB for this transformational engagement. We will leverage our strong insurance domain credentials and best practices around managed services to help HSB achieve excellence in service delivery” said Anil Vazirani, chief business officer, Insurance, LTI.
Hartford Steam Boiler (HSB), a member of Munich Re’s Risk Solutions family since 2009, is a leading specialty insurer providing equipment breakdown, other specialty coverages, inspection services and engineering-based risk management that set the standard for excellence worldwide. We focus on clients and partner with them to craft inventive insurance and service solutions to cover existing and emerging risks posed by technological change. Today, as throughout our 150 year history, our mission is to use our engineering knowledge and insights to help clients prevent loss, advance sustainable use of energy resources and build deeper relationships that benefit business, industry, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com and connect on Twitter, Facebook and LinkedIn.