In an era where technology is transforming the insurance landscape, HCLTech and Standard Insurance Company (The Standard) have deepened their strategic partnership. This expanded collaboration aims to accelerate The Standard’s digital transformation journey using AI-led infrastructure, application services, and innovation platforms. The partnership reflects the growing importance of AI in enhancing customer experiences, operational efficiency, and future-proofing business models in the financial services and insurance sectors.
1. Strategic Expansion of Partnership
- HCLTech and The Standard extend their collaboration to drive technological modernization.
- Focus on leveraging AI and cloud services to improve infrastructure and applications.
- Emphasis on aligning IT operations with a product and service-based delivery model.
2. Empowering Digital Transformation Goals
- The transformation supports The Standard’s long-term digital ambitions.
- Enables greater agility, improved customer value, and operational scalability.
- Shifts organizational focus toward innovation and user-centric digital experiences.
3. AI Force and Cloud-Driven Solutions
- HCLTech will deploy AI Force, its GenAI-led transformation platform, to automate and optimize workflows.
- Cloud engineering services are integrated to support hybrid and scalable IT operations.
- Enhances real-time responsiveness and employee productivity.
4. Creation of Innovation and Experience Units
- Launch of a Joint Innovation Council and Digital Experience Office.
- These bodies will guide innovation strategy, promote tech adoption, and streamline digital experiences.
- Reinforces The Standard’s commitment to creating adaptable and future-ready service models.
5. Endorsements from Key Leadership
- Laxman Prakash (The Standard): Recognized HCLTech as a strategic partner for scaling efficiently.
- Anubhav Mehrotra (HCLTech): Highlighted the importance of AI-led capabilities in reshaping the insurance value chain.
- Mutual focus on sustained growth through technology partnerships and shared vision.
The expanded partnership between HCLTech and The Standard sets a strong example of how strategic alliances in the FinTech and InsurTech sectors can drive meaningful digital transformation. With AI and cloud solutions at its core, this collaboration is not just about modernizing IT systems but creating a more agile, customer-focused, and innovation-led future for the insurance industry. As both companies continue to align their goals, this initiative is poised to redefine digital excellence in financial protection services.
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