HP TO CONFIRM WE CAN USE THIS

Why IT is key to ensuring a prosperous future for Lloyds of London

A POLICY THAT PAYS

THIS BRANDING?

2008, Hewlett-Packard Development Company, L.P

Dear [personalised] In this time of rapid change for the insurance industry, IT solutions are playing an increasingly pivotal role. However, for an institution like Lloyds of London it is essential that they are appropriate solutions, based on an understanding of the real challenges and opportunities facing your business.
PIC OF ROB

Insurance: an Industry challenged

TODAYS INSURANCE PRACTITIONERS, INCLUDING LLOYDS OF LONDON, FIND THEMSELvES FACED WITH IMMENSE CHALLENGES.
Competition in the marketplace is fiercer than ever, as an increased number of providers strive to attract customers who are becoming ever more sophisticated and demanding. External players such as banks, car manufacturers and retail chains are using their particular market knowledge to compete very successfully with insurers. At the same time, foreign companies are positioning themselves very effectively with interesting new products and tariffs. Traditional providers, often slow to develop and market innovative new products, are under pressure to roll them out faster, to offer each customer category a genuinely differentiated experience. All this, of course, is against the background of the current adverse economic climate, which must inevitably impact on the industrys overall profitability levels. Meanwhile the security of millions of industry documents, and control of access to them, is now the subject of an unprecedented level of regulatory compliance. For Lloyds to survive and thrive in these circumstances, the solutions and practices of the past will not suffice. On the other hand, for an insurer to abandon its generalist status and focus on specialist markets runs the real risk of alienating existing clients. Innovative and flexible ways must be found to engage with each client in a more meaningful way, while at the same time improving efficiency and reducing cost. The good news, for an industry that has not always been quick to make the maximum use of technology, is that the IT revolution has brought forth solutions capable of effecting these very improvements. Solutions that enable insurers to identify, filter and price risks more effectively. Many companies are already enjoying these solutions and more and more of them are doing so through working together with HP.

At HP we are deeply committed to providing solutions that will help drive your business forward. In this booklet you will find a brief analysis of the current climate, together with summaries of some of our products and services and the concrete benefits they can offer your company. A number of top-line case studies illustrate the different ways in which the deployment of HP solutions is already profiting companies in the financial sector. We would welcome the opportunity to meet you and discuss your particular business needs. To arrange a meeting or request further information, please call us on xxxx xxx xxx or contact me direct by emailing xxx.xxxx@xxxx.xx.xx Warm regards,

Rob Fairbrother Job Title

an effectIve response

The challenges facing Lloyds and other insurance providers are far from insurmountable. On the contrary, at HP we are well aware that a judicious response can turn them into opportunities. Indeed, we have assisted many customers in seizing those opportunities in a whole range of ways from turning the compliance burden into efficient digital workflows, to scaling transaction processes while creating a higher touch with customers. What is required, experience has taught us, is to replace bureaucratic waste with targeted efficiency. An institution such as Lloyds needs to be able to create the space to pursue new opportunities, create new products and improve the customer experience while cross-selling and up-selling more effectively. Staff must be freed from time-intensive document handling processes so they can concentrate on building more rewarding relationships with their customers. This is an essential business transformation and the key to making it is the adoption of technology-based solutions.

By introducing streamlined digital workflows, companies can make pivotal transactions such as account opening and claims handling faster and more responsive, while freeing their operatives for more rewarding activities. The cost reductions that stem from greater speed and efficiency can therefore be complemented by revenue increases stemming from more personalised client experiences. At the same time, the adoption of electronic solutions enables companies to meet ACORD standards and comply more easily with modern regulatory requirements.

a partner for progress

HP is world renowned as a provider of imaging and printing solutions that drive real improvements in customers productivity and profitability. Its tailored, enterprise-wide solutions reduce cost and improve efficiency, ensuring customers are better placed to embrace new opportunities. It is also passionate about anchoring its solutions within the context of a world whose priorities are changing, and will need to change further. a sustainable vision In an age when the average office worker uses ten thousand sheets of paper a year, HP is a technology industry leader in environmental awareness. It has developed its own demanding Design for the Environment strategy. By right-sizing its customers printing and imaging resources, the company is able to eliminate oversupply and reduce power use. For instance, the latest Instant On Technology (IOT) on HP Laserjet devices reduces their energy consumption by up to 50%. The total CO2 emissions saved by using IOT between 1993 and 2006 was equivalent to taking 1.1 million cars off the road. HP is also deeply committed to recycling materials, and to the development of new energy-saving technologies such as virtual meeting rooms. Its paper-free solutions already greatly reduce raw material use: by implementing digital document workflows, organisations can eliminate the need for a courier service, thereby eliminating unnecessary document routing expense and reducing their carbon footprint. HP has a proven track record in working with the financial services sector in general and the insurance industry in particular.

hp and you: the benefIts

BY MAkING BEST USE OF HP SOLUTIONS, AN INSURANCE PROvIDER CAN RADICALLY IMPROvE ITS BUSINESS PERFORMANCE IN A vARIETY OF MEASURABLE WAYS.
Improved claims processing Claims are widely considered to be the definitive interaction in insurance - the moment of truth. Companies achieving high levels of claims satisfaction retain as many as 90% of their customers, while for those recording the lowest levels the figure is only 78%. Yet many claims professionals still operate in a world characterised by cumbersome diary systems, sticky notes and manual processes. No wonder claims processing accounts for 15% of an insurance companys Net Earned Premium. HP has led the way in replacing this outdated scenario with a one and done electronic infrastructure. Applying innovative technology, this infrastructure transports, manages, tracks and delivers electronic data to claims applications, portals and archives. In doing so it both improves claims processing performance and reduces the cost of this critical workflow case study: Allianz claims processing springs to Life HP worked with Allianz Life Assurance to improve its claims and business document workflow, instituting remote scanning of claims forms and supporting documents. With document digitisation and tracking, this led to increased security and greater productivity. It also led, within three months, to an estimated cost reduction of over 30%.

a far shorter time span. And with the digitisation of key workflow actions and information management and monitoring processes, you can achieve a higher level of process transparency and flexibility. At the same time, these solutions allow insurers to marshal and share information more effectively, empowering their staff with the improved customer knowledge required to achieve best results.

enhanced customer satisfaction Through improved data capture and management, the needs of individual insurance customers can be identified more exactly. Meanwhile, in parallel, the automation of standard processes wins staff the time to utilise these new insights and interact with customers on a more satisfying, one-to-one level. HP Exstream Dialog provides the means to make the most of these exciting opportunities. It is a solution that enables insurers to engage with customers through timely, flexible and highly personalised communications on a regular basis. HP Exstream Dialog and Dialog Live offer insurance customers one system to create, manage, customise and deliver both customer and partner-facing documents. Taking in ACORD XML, HP Exstream Dialog produces documents in whatever mode you choose, from high volume batch to documents on demand and including interactive documents used by agents at the point of sale. This flexibility allows companies, not only to maximize opportunities for targeted cross-selling and up-selling, but also to build up the richer long-term customer relationships that engender loyalty and are essential to success in the modern business climate.

case study: Helvetia Patria brings it all back home In 2000 international insurance group Helvetia Patria Group (HPv) identified an opportunity to take advantage of alternative sales channels by centralising its previously devolved regional structure. Its aim was to expand data sharing and process automation while maintaining strict data security. HP, having taken the time to understand HPvs business goals, produced a state-of-the art, fully compliant solution based on a proven banking platform adapted to the insurance industry. Implementing the solution has enabled HPv to expand its distribution channels and greatly increase profitability. ROI was 111% over the first three years, and built up even further to reach 201% in year six.

greater operating efficiency Automating labour-intensive tasks and converting paper-based processes to digital ones increases both the speed and accuracy of delivery while also reducing costs. Repetitive processes that once took days can instead be accomplished in hours, releasing staff for more productive work. In todays environment of heightened competition, this is a crucial differentiator. HP insurance document and business workflow solutions bring a new agility to capturing, creating, collating, processing, distributing and managing documents. In particular, it enables critical episodes such as claims handling to be streamlined. With exceptions and errors identified more readily, processes can be finalised in

case study: First class collateral for Principal The Principal Financial Group needed to streamline the time-consuming task of creating personalised, high-quality pitch books, or customised retirement plan presentations, on demand. Using HP Exstream Dialogue to create a web-based interactive system, The Principal reduced preparation time for a fully customised pitch book from several hours to 20 minutes while cutting the cost by 75 percent.

case study: Norwich Union

strengthened e-discovery and litigation support It is a fact that legal discovery accounts for 70% of overall litigation costs. And page for page, paper discovery costs can be more than 250% higher than electronic costs. Yet most organisations lack the systems and policies to deal effectively with e-Discovery.

case study: Better security for Besso Both its customers and the industry dictate that a company such as Besso must have huge volumes of data securely stored yet instantly available. Working with HP has enabled Besso to comply with the regulations imposed by the Financial Services Authority and other bodies. It has also reduced the time staff spend on data recovery and allowed costs to be contained through a fixed fee structure. The result? A more efficient, more competitive company.

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HPs e-Discovery and litigation support solutions offer insurers unified records management complete with multi-channel capture, archive, retrieval and disposition. They will improve your companys compliance posture, support litigation and auditing, and deliver e-discovery without creating any additional cost or process overhead.

real security and compliance Hand in hand with the cost, performance and service benefits of switching to digital workflows, there are huge advantages when it comes to security. Just as HP solutions can reduce the time, complexity, manual input and error rate of document processes, they can also maintain their confidentiality. HP Compliant Document Capture enables the secure transfer, processing, archival and retrieval of information. In doing so it directly confronts the security risk posed by uncontrolled access, ensuring that all instances of document usage can readily be traced to individuals where necessary. This enables insurers to comply with ACORD standards and meet the compliance demands of the increasingly rigorous regulatory environment. With each document secure, every point of interaction accountable, and a full audit trail deliverable, insurers can protect their interests and enjoy the fully merited trust of their customers. Gather live, archive and loose information Paper and Electronic Lock it down Process the information Select relevant documents, scan paper, convert formats Produce the information Redact Print or convert formulas, add barcodes, labels etc Deliver

smoother policy enrolment The one process that sets the stage for all others, in terms of an insurers relationship with its customers, is that of account opening. A stress-free initial experience is essential in reassuring the customer, laying the ground for the future and promoting a warmer response to cross-selling efforts. However, relying on manual paperwork can lead to problems. Delays, lost or misrouted information, late detection of exceptions all these can result in a serious lessening of goodwill between insurer and insured. HP Account Opening Accelerator is a sharply focused solution that, by replacing time-consuming paperwork with efficient automated digital workflows, both speeds up account opening and reduces its cost. With audit trails in place, Account Opening Accelerator also keeps sensitive information secure, protecting all parties and improving compliance

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the bIg pIcture

With a portfolio that spans printing, personal computing, software, services and infrastructure, HP is among the worlds largest IT companies. It is committed to providing relevant, results-driven technology experiences for its customers, be they individual consumers or global corporations. To this end HP keeps its focus firmly on innovation. Every year, in the search for new and better solutions, the company invests more than $3.5 billion in research and development. HPs rich heritage and powerful presence in the financial services industry is evidenced by many startling statistics. For instance, its systems handle 2 out of 3 credit-card transactions, power 106 of the worlds 120 stock exchanges, and support 95% of the worlds securities transactions.

the next move

Lloyds is an insurance leader. HP is a leader in technology solutions for insurance. Close co-operation between the two has a logic few would argue against.
Working with HP to meet the challenges of today will offer Lloyds substantial and significant benefits, from releasing the true potential of its staff to reducing costs by up to 30%. Above all, it will provide Lloyds with the critical enabling support it needs as it seeks to survive and thrive now and into the future.

When you work with HP you will be dealing with a team of trained personnel wholly dedicated to meeting the needs of Lloyds of London.

Whatever your IT requirement, our team will work in partnership with you to identify and implement the right solutions. At all times, someone who really understands your business will be just a phone call or email away.

Principal contact rob fairbrother

PIC OF ROB

Mobile: Email:

07826510321 robert.fairbrother@hp.com

Internal Support susan orr Tel: 0141 342 6133

tsg Michelle Kennedy Email: michelle.kennedy@hp.com Mobile: 07901 670203 Julie Taylor

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technical consultants Mohammad Islam Mobile: 07500066480 Email: m.islam@hp.com

Insurance Industry consultants Joe Wagle Tel: 973.275.6290 Mobile: 917.975.8133 Email: joseph.wagle@hp.com Petra Wildemann Mobile: +41 (79) 540 88 47 or +49 (171) 415 87 16 U.S Mobile: +1 (310) 728 52 76 Email: Petra.Wildemann@hp.com

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To discuss your companys individual requirements, talk to your HP agent. Or to obtain our White Paper xxxx xxxxx, call 0000 000000.

Email: Julie.taylor@hp.com Mobile: 0141 342 6435

business process consultants: Susanne Schwede

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