BWI: Caliber Point to Provide Actuarial Process Outsourcing through Strategic Partnership

Press release from Business Wire India
Source: Hexaware Technologies Ltd
Tuesday, June 01, 2010 06:41 PM IST (01:11 PM GMT)
Editors: Business: Advertising, PR & marketing, Business services, Information technology, Telecommunications; Technology
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Caliber Point to Provide Actuarial Process Outsourcing through Strategic Partnership
Partners with ReAct Consulting International and Axiom Actuarial Consulting

Mumbai, Maharashtra, India, Tuesday, June 01, 2010 -- (Business Wire India) -- Caliber Point Business Solutions Ltd., a leading BPO service provider and a Hexaware Technologies subsidiary, today announced a partnership with ReAct Consulting International, Inc. to provide actuarial process outsourcing services. ReAct, a US-based company, provides consulting services in all facets of life, accident & health actuarial and underwriting, both in the US and internationally. Axiom Actuarial Consulting, LLC (a sister concern of ReAct) offers a variety of actuarial, financial and strategic services with a focus on healthcare and special risk.

This alliance is designed to provide actuarial and data management services utilizing a cost efficient delivery model, enabling customers to effectively deploy their valuable actuarial resources to strategic tasks. As a part of this collaboration, React and Axiom Actuarial Consulting, LLC will provide the subject matter expertise, consulting services and front-end client management. Caliber Point will provide the service delivery model, utilizing their well tested proficiency in business process outsourcing. This new service offering will leverage Caliber Point's existing infrastructure and will provide customers an access to a large and growing pool of actuarial talent.

Outsourcing also allows end-users to better manage the seasonal variations in work flows and optimize their existing actuarial staffing. Additionally, this service delivery model can reduce the operational costs by 40-50%.

"Last year we augmented our services portfolio by adding analytics. This current addition of Actuarial Services definitely helps us move-up the value chain in terms of service offerings. In this context, this partnership is an exciting catalyst that ramps-up our delivery capabilities, on top of what we already offer." said R U Srinivas, CEO, Caliber Point.

Commenting on the partnership, Michael A. Kemp, Founder of ReAct Consulting said, "We are pleased and excited to have formed this alliance with Caliber Point. We believe that Caliber Point's demonstrated capabilities in the business process outsourcing arena coupled with their strong focus on quality, process and governance are well suited to creating an attractive value proposition for our clients. Providing high quality actuarial process outsourcing through a cost effective delivery model allows risk taking organizations to redeploy valuable actuarial resources to strategic tasks. In a world with ever increasing focus on risk management and rapidly changing product focus, actuarial talent is a premium resource best directed to activities producing a commensurate return on those costs."

Some of the services available through this partnership include reserving and valuation, experience monitoring and analysis, pricing, model development and maintenance, financial reporting support and data management.

In the US Insurance market, Caliber Point aims to cater to the needs of the increasing demand for actuarial support, which is a consequence of business challenges such as enterprise risk management and the recent healthcare reform. Whereas in other markets this partnership will leverage the strong presence and expertise of ReAct in the actuarial domain.

About Caliber Point

http://www.caliberpoint.com/caliber/BoilerplateCaliberPoint.aspx




CONTACT DETAILS
Effie D'Cunha, Hexaware Technologies Ltd, +91 9987007859, effiec@hexaware.com

KEYWORDS
MARKETING, BUSINESS SERVICES, IT, TELECOMMUNICATIONS, TECHNOLOGY, HEXAWARE.NS, 532129.BO

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