MPHASIS ASSISTS A LARGE BENEFITS BROKER AND ADMINISTRATOR WITH AN OPERATIONAL COST TAKEOUT PROGRAM AND DIGITAL TRANSFORMATION

CLIENT

One of the largest global benefits broker and administrator with over $17B in annual revenue, specializing in benefit programs for employers and voluntary benefits for individuals.

CHALLENGES

The client was unable to reduce its technical cost, while enabling better customer experience, more personalized product development and better use of data to understand and anticipate prospect and customer needs due to:

Non-integrated / immature systems making it difficult to leverage synergy around the broad “health & wellness” approach.
Lack of attention in emphasizing voluntary benefits within the Life, Health and Wellness services offerings.
Handling expectations of millennial employees and the transformation expected in platforms and processes, driven by the nature of employment changing in the gig economy.

SOLUTION

Mphasis employed a zero-cost transformation approach to transform legacy IT leveraging Mphasis assets and SI capabilities, as well as digital and data transformation to improve customer experience to reignite business growth.

BUSINESS BENEFITS

Delivered 20% IT annual cost savings.

Overall operational savings of approximately 30% over a seven-year period through an overall 40% reduction in rework and effort.

The transformation was entirely self-funded, and staff redeployed to new digital operations to enable new revenue growth.