HDFC Standard Life Selects SAP To Enhance Service Standards

HDFC Standard Life, a private life insurance company, has selected SAP as its technology partner to enhance its customer centricity and set new benchmarks in service standards. The enterprise-wide deployment of SAP solutions will integrate the company’s internal business functions including finance, procurement, incentive and compensation management, HR activities etc, thereby strengthening its business infrastructure.

"Technology is a critical enabler in fuelling our business priorities. We, at HDFC Standard Life, are proud to be associated with SAP and believe that SAP will help us facilitate better understanding of our customers apart from enhancing our delivery capabilities, running more profitably and productively," said Paresh Parasnis, principal officer and executive director, HDFC Standard Life.

More from Biztech

Recognising the market challenges and the importance of service standards in the Indian life insurance industry, HDFC Standard Life has been engaging technology as a key component in standardising and automating its core business processes. The SAP deployment is expected to improve data accuracy and eliminate manual processes, giving business executives in-built business intelligence to aid decisions.

The SAP implementation will enable HDFC Standard Life to gain a clear view of its business, aiding it to make prompt decisions to optimise its business performance. In addition, SAP industry packages like SAP Incentive and Commission Management, SAP Marketing for Insurance, SAP Sales for Insurance and SAP Service for Insurance will facilitate HDFC Standard Life to address the unique business requirements of the Indian life insurance industry.

HDFC Standard Life especially chose SAP because it fit the criterion of a highly-scalable solution that will meet their current and future needs. Right from core business processes to distribution channel management and CRM, the SAP platform provides an integrated solution that enables a single view of business data across the organisation.