SOURCE: HCL Technologies

 

SUNNYVALE, CA and WEST TRENTON, NJ--(Marketwire - August 21, 2008) - HCL Technologies Ltd. ("HCL"), India's leading global IT services company, today announced the completion of the implementation of Guidewire ClaimCenter® for New Jersey Manufacturers Insurance Company (NJM), the largest automobile and workers' compensation insurer in New Jersey. HCL assisted NJM in the configuration, integration, data conversion and claims reporting aspects of the Guidewire ClaimCenter implementation, serving as the company's IT partner and driving its transformation in claims processing.

"This was a particularly tricky project, as it required many system changes to occur in coordination with the Guidewire ClaimCenter implementation," explained Mike Carey, head of IT, NJM Insurance Group. "Throughout this project HCL was responsive and adaptable to the various changes that occurred, while remaining focused and productive. Additionally, HCL has a sharp understanding of our business processes and technology environment, which has offered us the added benefit of not disrupting our own staff during this important integration."

"With our deep experience in packaged implementations and our ongoing investment in building solution accelerators for low cost/risk implementations, we are in a unique position to offer insurance carriers the expertise needed to implement packaged solutions and assist in their business transformation initiatives," said Prasanna Satpathy, senior vice president and head, Banking, Financial Services and Insurance Group, HCL America, a wholly owned subsidiary of HCL. "Our implementation of ClaimCenter for NJM is enabling the company to streamline and reduce risk in the claims transformation process and increase value to their customers."

"HCL resources have been involved with several implementations of Guidewire ClaimCenter," said Alex Naddaff, vice president, Professional Services, Guidewire. "Their team has demonstrated a good understanding of our product and what it takes to make these mission-critical enterprise projects successful."

Guidewire ClaimCenter is a leading end-to-end claims system for property/casualty insurance. ClaimCenter's flexible business rules enable claims organizations to optimize and monitor the claim process. Claims executives can define, enforce, and continually refine their preferred claim handling practices. In addition, ClaimCenter offers a modern technology architecture providing 100% web client, and a web services interface that enables lower total cost of ownership in any environment.

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 major insurance assignments spanning life insurance, P&C insurance and reinsurance.

About New Jersey Manufacturers Insurance Company

New Jersey Manufacturers Insurance Company is the state's largest writer of Workers' Compensation and Personal Auto Insurance and numbers among the five largest providers of Commercial Auto and Homeowners coverage. Formed in 1913 by factory owners who wanted to purchase insurance from a reliable, local, safety-oriented carrier, the Company has earned a reputation for efficiency, integrity and customer satisfaction. Since 1918, NJM has returned dividends to policyholders every year for a cumulative total of $4.5 billion. For more information, visit www.NJM.com.

About Guidewire Software

Guidewire Software is a leading global provider of technology solutions to property and casualty and workers' compensation insurers. Guidewire delivers proven software to run core insurance operations, including billing, underwriting, policy, and claim management. The Guidewire Insurance Suite™ consists of Guidewire ClaimCenter, Guidewire PolicyCenter®, and Guidewire BillingCenter®, which provide a modern, web-based platform for all lines of business. Guidewire is headquartered in San Mateo, California, with offices in London, Munich, Paris, Sydney, Tokyo, and Toronto. For more information, please visit www.guidewire.com.

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 16 countries to deliver solutions across select verticals including Financial Services, Retail & Consumer, Life Sciences Aerospace, Automotive, Semiconductors, Telecom and MPE (Media Publishing & Entertainment). For the year ended 30th June 2008, HCL Technologies, along with its subsidiaries had revenues of US$ 1.9 billion (Rs. 7,639crore) and employed 50,741 professionals. For more information, please visit www.hcltech.com.

About HCL Enterprise

HCL Enterprise is a 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, Technology and Application Services, BPO, Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products. The HCL team comprises approximately 44,000 professionals of diverse nationalities, who operate from 16 countries including 300 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.