HDFC Standard Life, one of India’s leading private life insurance companies, has been accredited with the prestigious CIO 100 2010: The Agile Award. The company has also been awarded the CIO Hall of Fame award that recognizes CIOs who have won four CIO100 awards in the same company.
HDFC Standard Life was honoured for ‘Pinnacle’, which provides on-demand, easy-to-manage workflow management solution for its new business processes with the flexibility of aligning the processes to dynamic business conditions. Pinnacle eliminates manual intervention, centralizes partner-efficacy metric for performance measurement, and is a single application with scalable architecture for all its partners ensuring standardized processes, with real time monitoring of data-processing activities.
Speaking on this achievement, Mr. Sunil Rawlani, Executive Vice President, Information Technology said, “In today’s highly competitive life insurance industry, Pinnacle assists us in staying ahead of the curve by providing a flexible system that allows alignment of business processes as per market dynamics. Pinnacle enables efficient data processing and workload management thereby ensuring better turnaround for policy issuance leading to improved operational efficiency. Pinnacle has been designed to achieve maximum possible automation, which results in high level of accuracy.”
”Pinnacle has helped to leverage human resource potential in the social and rural sector without comprising the traditional value system. It also helps to bridge the digital divide gap. Going forward, Pinnacle will be enhanced to provide straight through processing (STP) capability,” added Mr. Rawlani.
The Award was conferred by the CIO Magazine for staying agile and producing results that qualify as ‘the best of the best’ in a year that has been tumultuous across the globe.
HDFC Standard Life has bagged the CIO 100 Award for the fourth consecutive year. In 2009, the company was honoured with ’CIO The Ingenious 100 – 2009 Award,’ for ATLAS (Agency Training Licensing and Servicing System) along with CIO 100 ‘Security Award 2009’ for pioneering Information Security End point Security initiative using Landesk.
HDFC Standard Life had received the ’CIO The Bold 100 – 2008 Award’ for Consultant Corner and CIO 100 ’Security Award 2008’ for initiatives for a secure computing environment, including Sesame – Identity and Access Management. In 2007, the company received CIO 100 award for Wonders and a Special Award in Storage category.
About HDFC Standard Life
HDFC Standard Life, one of India’s leading private life insurance companies, offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.
HDFC Standard Life’s product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health. Customers have the added advantage of customizing the plans, by adding optional benefits called riders, at a nominal price. The company has several products in its portfolio, along with five optional rider benefits catering to the savings, investment, protection and retirement needs of customers.
HDFC Standard Life continues to have one of the widest reaches among new insurance companies with 568 branches servicing customer needs in over 700 cities and towns. The company has a strong presence in its existing markets with a sound network of Financial Consultants.