Financial Services Company lowers their IT costs and improves operational performance
The client is a global leader in Insurance and Financial services industry. The organization provides solutions in the areas of Life, Defined Contribution/Pension, Group Insurance, and Annuity. Their Japanese subsidiary provides life insurance products and services for SME owners. The company offers its products through independent financial advisers, as well as a network of distributors, including regional and national banks, securities companies, and Japan Post. It serves individuals and corporate customers. The company started operations in 1986 and is based in Tokyo, Japan and operates as the Japanese subsidiary of its parent.
The client had many type of customers that were associated with their different business lines, such as Participants, Sponsors, Producers. To provide services to these customers around their different business lines, the company has a variety of IT solutions built on a wide range of technology platforms spread across mainframe, legacy systems to e-business solutions. The client also had batch applications that enabled data communication between mainframe systems, other systems and the e-business solutions.
The IT environment within the organization encompassed the following;
- Web Applications
- Web Services
- Batch Applications
All business applications were real-time and mission-critical. Therefore, ensuring good health and 24×7 availability of these applications was of prime importance to the client. They had an internal team who supported the e-business applications for all operational issues including production; but was unable to manage these applications effectively.
Their main sales application, which was widely used by their agencies and employees, was having multiple stability issues. Many end-users had been moved to manual process because of this.
Insurance sector is highly dependent on market sentiments. To leverage the market sentiment, every company needs to be ready and capable to change their business plans accordingly. Such change of plans also requires change in existing applications. At the same time, being a highly regulated industry, insurance companies have to adapt their policies according to the new laws or change in existing laws by government. These also need to be reflected in the company’s business applications at a rapid pace.
Production support activity for the client was defined along two lines, BA support and Technical support. BA support comprised:
- BA inbox
- Monitoring 24×7 services
- Data sync activity
Tech Support included:
- Monitoring of production 24X7X365
- Raising issues by creating tickets and working through them to closure
- Coordinating with the database team, infrastructure team, and others
- Fixing bugs
- Undertaking enhancements and suggesting measures for the improvement in production support processes.
JK Technosoft started handling the entire operation independently and continues to do so. In the process, JKT delivered complete customer satisfaction and met defined and agreed SLAs.
- The client was able to reduce production support cost by 30-40 percent.
- They were able to manage their applications efficiently.
- JKT enhanced their existing application architecture in such way that it can incorporate future changes comfortably.
- The bug list was brought down to zero.
- Stability of their existing application drastically improved and end-users started utilising the application again.