HCL Technologies Ltd. ("HCL"), India's leading global IT services company, today announced the completion of the implementation of Guidewire ClaimCenter® for New Jersey Manufacturers Insurance Company (NJM), the largest automobile and workers' compensation insurer in New Jersey. HCL assisted NJM in the configuration, integration, data conversion and claims reporting aspects of the Guidewire ClaimCenter implementation, serving as the company's IT partner and driving its transformation in claims processing.
"This was a particularly tricky project, as it required many system changes to occur in coordination with the Guidewire ClaimCenter implementation," explained Mike Carey, head of IT, NJM Insurance Group. "Throughout this project HCL was responsive and adaptable to the various changes that occurred, while remaining focused and productive. Additionally, HCL has a sharp understanding of our business processes and technology environment, which has offered us the added benefit of not disrupting our own staff during this important integration."
"With our deep experience in packaged implementations and our ongoing investment in building solution accelerators for low cost/risk implementations, we are in a unique position to offer insurance carriers the expertise needed to implement packaged solutions and assist in their business transformation initiatives," said Prasanna Satpathy, senior vice president and head, Banking, Financial Services and Insurance Group, HCL America, a wholly owned subsidiary of HCL. "Our implementation of ClaimCenter for NJM is enabling the company to streamline and reduce risk in the claims transformation process and increase value to their customers."
About HCL Enterprise
HCL Enterprise is a leading Global Technology and IT enterprise that comprises two companies listed in India -- HCL Technologies & HCL Infosystems. The 3-decade-old enterprise, founded in 1976, is one of India's original IT garage start-ups. Its range of offerings span Product Engineering, Technology and Application Services, BPO, Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products. The HCL team comprises approximately 44,000 professionals of diverse nationalities, who operate from 16 countries including 300 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information, please visit www.hcl.in .
Forward-Looking Statements
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
Thursday, June 3, 2010
nsurance During Construction
Construction is an important activity but not without its inherent risks. A building under construction is subject to many risks like fire, winds, etc. At the same time, workers involved in construction activity are also under risk due to the dangerous nature of their work. The contractor is also under risk due to the possibility of damage to his employees and equipment. There are comprehensive insurance policies that address all these concerns, broadly classified into Construction Insurance and Contractors Insurance.
What Is Construction Insurance?
Construction insurance, also known as Builders Risk insurance, is insurance that protects against unforeseen expenditures during the construction phase of a home or a commercial building. It is a special type of property insurance that protects "a persons or organizations insurable interest in materials, fixtures and equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause". It is distinct from Homeowners insurance that protects the structure and its contents after it is occupied.
Homeowners may be under the wrong impression that a contractor is liable for damage caused to a home under construction, but that is applicable only if the contractor or his workers were negligent, resulting in the damage The homeowner must protect his investment with a builders risk policy.
Even though a builders risk policy protects a building under construction from losses due to fire, vandalism, theft, lightning and wind, it usually does not provide coverage against losses due to earthquake, flood, acts of war, or intentional acts of the owner. The insurance agency may ask for a copy of the home building contract before issuing a policy. Although such a policy is usually taken out by the homeowner or the title holder, the general contractor in charge of construction may also buy such insurance if its specified in the contract.
A builder's risk or construction insurance policy is valid for one year from the date of issuance, or until construction finishes, whichever is earlier. If construction finishes before one year, the customer can negotiate to have part of the premium rolled over for a homeowner's policy. If construction is still happening after one year, the existing policy lapses and a new policy will have to be issued.
What Is Contractors Insurance?
Contractors insurance is insurance taken out by a contractor to protect his firm from unforeseen damages. This includes general liability claims, equipment damage and workers compensation claims. General liability refers to a situation where the contractor firm or any of its employees are at fault, such as failing to follow state regulations during construction. Contractors insurance will allow the firm to limit its losses in such a situation. Workers compensation refers to the charges associated with ensuring the safety of the firm's employees during duty hours. If a worker is injured during construction, the insurance provider will cover the medical expenses. Contractors insurance also protects the firm's expensive equipment from damage due to theft, vandalism or natural disasters. The contractor's vehicles are also covered under the commercial auto and truck policy.
What Is Construction Insurance?
Construction insurance, also known as Builders Risk insurance, is insurance that protects against unforeseen expenditures during the construction phase of a home or a commercial building. It is a special type of property insurance that protects "a persons or organizations insurable interest in materials, fixtures and equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause". It is distinct from Homeowners insurance that protects the structure and its contents after it is occupied.
Homeowners may be under the wrong impression that a contractor is liable for damage caused to a home under construction, but that is applicable only if the contractor or his workers were negligent, resulting in the damage The homeowner must protect his investment with a builders risk policy.
Even though a builders risk policy protects a building under construction from losses due to fire, vandalism, theft, lightning and wind, it usually does not provide coverage against losses due to earthquake, flood, acts of war, or intentional acts of the owner. The insurance agency may ask for a copy of the home building contract before issuing a policy. Although such a policy is usually taken out by the homeowner or the title holder, the general contractor in charge of construction may also buy such insurance if its specified in the contract.
A builder's risk or construction insurance policy is valid for one year from the date of issuance, or until construction finishes, whichever is earlier. If construction finishes before one year, the customer can negotiate to have part of the premium rolled over for a homeowner's policy. If construction is still happening after one year, the existing policy lapses and a new policy will have to be issued.
What Is Contractors Insurance?
Contractors insurance is insurance taken out by a contractor to protect his firm from unforeseen damages. This includes general liability claims, equipment damage and workers compensation claims. General liability refers to a situation where the contractor firm or any of its employees are at fault, such as failing to follow state regulations during construction. Contractors insurance will allow the firm to limit its losses in such a situation. Workers compensation refers to the charges associated with ensuring the safety of the firm's employees during duty hours. If a worker is injured during construction, the insurance provider will cover the medical expenses. Contractors insurance also protects the firm's expensive equipment from damage due to theft, vandalism or natural disasters. The contractor's vehicles are also covered under the commercial auto and truck policy.
Auto Insurance Agencies: an interesting research with reference to Vehicle Equipment Manufacturer Insurance
This research about the topic of vehicle equipment manufacturer insurance introduces benefits which may well not be immediately obvious to people who have never been entirely immersed in the qualities of the notion of vehicle equipment manufacturer insurance previously.
Now that you`ve got the motorbike for yourself, it is time to have it covered. Still, before you ring up just any insurance coverage manager you will need to find out the ways in which the insurance coverage company decides your rate. By informing yourself about how the insurance organization would look at you, you could get the best possible auto online insure policy plan for you and your motorbike while simultaneously cutting down on finances.
Number one, to get the finest and lowest-priced motor vehicle online insure, you have to know the ways in which the insurance establishment will assess you:
1. Your Bike: If in case you have the most recent as well as flashiest motorbike, it would cost you additional compared to a more dated, simple motorbike.
2. Your Age: As with auto insurance coverage, characteristically the more grown-up you happen to be the more economical your online automobile assurance costs would be. Nevertheless, if in case you are a first timer when it comes to riding bikes you will almost certainly be within a greater cost class until you get at least a little driving proficiency.
3. Your Address : Occasionally the towering internet autos ins costs you are given can be very much impacted through where you have your home. If by chance you reside and/or often habitually ride within a high crime or high accident prone area, your rates will likely be more than a person who lives/drives in a zone which has less misdemeanor as well as collisions.
4. Your Driving Record: All crashes add up. Even if in case you happen to be new to a bike, the accidents you suffered with your car will add up against you. Thus, the more spotless your riding profile, the more economical your cars coverage will be.
5. Your Occupation : Where you are driving to and then parking your motorbike would influence your rate. If you need to keep your bike parked on a building site, your insurance could be augmented as a result of the augmented risk of harm to your motorbike.
Now that you are familiar with how the insurance corporation would examine and rate you, listed below are a small number of directives about how to pick up a sound contract:
1. Hunt, Look, Shop As Much As You Can: Insurance coverage may change significantly inside the same zip code. Book one whole day in order to give a call to as many companies as you are able to get a price quote. Scouting around for automobiles online insure can occasionally be the only finest method to lower your insurance coverage costs.
2. Safeguarding Your Motorcycle: What can you work out in order to keep your motorcycle more secure ? If you are able to garage your motorbike, arm it with an alarm bell, or shelter it one way or another while it is standing, you might have the capacity to obtain for yourself some price cuts on your online cars insur.
3. Do not Over-insure: Remember, in case something happens to your motorcycle, you will merely be given the market cost; therefore, over insuring won`t make it easier for you to get a higher cost for your motorbike.
4. Mileage: If in case you just drive your motorbike once in a while in the summer months purely for enjoyment, you must have the capacity to get a better cost for online auto insur in case you are able to keep the number of kilometers traveled down.
5. Special Bike Guidance : Taking special DMV or other motorcycle training can help cut your fee. Only make sure to keep your certificates within reach for the insurance company to view.
There is no argument to pay more to one insurance association when a second one is ready to offer you a more excellent bargain. In case a crash should happen, you will collect the same price for your motorbike irrespective of which association you choose. By taking the time to study the ways in which the insurance association would examine you, your motorcycle, and your driving behavior, you may learn the ways in which to put away at the same time still collecting a fantastic cars ins policy plan.
Now that you`ve got the motorbike for yourself, it is time to have it covered. Still, before you ring up just any insurance coverage manager you will need to find out the ways in which the insurance coverage company decides your rate. By informing yourself about how the insurance organization would look at you, you could get the best possible auto online insure policy plan for you and your motorbike while simultaneously cutting down on finances.
Number one, to get the finest and lowest-priced motor vehicle online insure, you have to know the ways in which the insurance establishment will assess you:
1. Your Bike: If in case you have the most recent as well as flashiest motorbike, it would cost you additional compared to a more dated, simple motorbike.
2. Your Age: As with auto insurance coverage, characteristically the more grown-up you happen to be the more economical your online automobile assurance costs would be. Nevertheless, if in case you are a first timer when it comes to riding bikes you will almost certainly be within a greater cost class until you get at least a little driving proficiency.
3. Your Address : Occasionally the towering internet autos ins costs you are given can be very much impacted through where you have your home. If by chance you reside and/or often habitually ride within a high crime or high accident prone area, your rates will likely be more than a person who lives/drives in a zone which has less misdemeanor as well as collisions.
4. Your Driving Record: All crashes add up. Even if in case you happen to be new to a bike, the accidents you suffered with your car will add up against you. Thus, the more spotless your riding profile, the more economical your cars coverage will be.
5. Your Occupation : Where you are driving to and then parking your motorbike would influence your rate. If you need to keep your bike parked on a building site, your insurance could be augmented as a result of the augmented risk of harm to your motorbike.
Now that you are familiar with how the insurance corporation would examine and rate you, listed below are a small number of directives about how to pick up a sound contract:
1. Hunt, Look, Shop As Much As You Can: Insurance coverage may change significantly inside the same zip code. Book one whole day in order to give a call to as many companies as you are able to get a price quote. Scouting around for automobiles online insure can occasionally be the only finest method to lower your insurance coverage costs.
2. Safeguarding Your Motorcycle: What can you work out in order to keep your motorcycle more secure ? If you are able to garage your motorbike, arm it with an alarm bell, or shelter it one way or another while it is standing, you might have the capacity to obtain for yourself some price cuts on your online cars insur.
3. Do not Over-insure: Remember, in case something happens to your motorcycle, you will merely be given the market cost; therefore, over insuring won`t make it easier for you to get a higher cost for your motorbike.
4. Mileage: If in case you just drive your motorbike once in a while in the summer months purely for enjoyment, you must have the capacity to get a better cost for online auto insur in case you are able to keep the number of kilometers traveled down.
5. Special Bike Guidance : Taking special DMV or other motorcycle training can help cut your fee. Only make sure to keep your certificates within reach for the insurance company to view.
There is no argument to pay more to one insurance association when a second one is ready to offer you a more excellent bargain. In case a crash should happen, you will collect the same price for your motorbike irrespective of which association you choose. By taking the time to study the ways in which the insurance association would examine you, your motorcycle, and your driving behavior, you may learn the ways in which to put away at the same time still collecting a fantastic cars ins policy plan.
Manufacturers’ Insurance - Car Insurance
With over 1 million cars bought last year, car manufacturers’ profits rose by around £15 million last year.
Purchasing everything in one transaction can be beneficial and also save us time. In the case of buying a car, we now have the opportunity to purchase not only the car, but also the insurance to go with it, all from the same manufacturer.
But whilst many of us feel we’re driving away from the forecourts having secured a great bargain, in regards to car insurance we may not be getting the best deal.
Many companies offer some level of car insurance, which can be purchased at the same time as the car itself. This can undoubtedly save time, but it may not necessarily be the cheapest option for you.
And whilst many manufacturers will try and tempt us with the promise of free insurance along with the vehicle itself, it’s advisable to check the cover level offered before coming down with ‘new-car enthusiasm’ and rushing into a purchase.
Check the levels of excess that are offered, and also the renewal dates of the policy if you end up taking the manufacturers insurance policy.
On the spot manufacturer insurance can seem tempting at the time, but shopping round for car insurance can lead to savings on your policy. With no end of resources out there to help us search for the cheapest car insurance quote, it can often be beneficial taking some time to search for quotes.
Once you’ve found a few quotes that are affordable for you, contact them and ask about the type of cover you’ll be getting for your money, enquire about additional extras (such as breakdown cover and windscreen repair)
By taking some time to research the market, you can save yourself some money, and also some hassle – for by sifting through the details of your policy and ensuring you understand every detail. This can save further time and hassle should you need to make a claim.
Purchasing everything in one transaction can be beneficial and also save us time. In the case of buying a car, we now have the opportunity to purchase not only the car, but also the insurance to go with it, all from the same manufacturer.
But whilst many of us feel we’re driving away from the forecourts having secured a great bargain, in regards to car insurance we may not be getting the best deal.
Many companies offer some level of car insurance, which can be purchased at the same time as the car itself. This can undoubtedly save time, but it may not necessarily be the cheapest option for you.
And whilst many manufacturers will try and tempt us with the promise of free insurance along with the vehicle itself, it’s advisable to check the cover level offered before coming down with ‘new-car enthusiasm’ and rushing into a purchase.
Check the levels of excess that are offered, and also the renewal dates of the policy if you end up taking the manufacturers insurance policy.
On the spot manufacturer insurance can seem tempting at the time, but shopping round for car insurance can lead to savings on your policy. With no end of resources out there to help us search for the cheapest car insurance quote, it can often be beneficial taking some time to search for quotes.
Once you’ve found a few quotes that are affordable for you, contact them and ask about the type of cover you’ll be getting for your money, enquire about additional extras (such as breakdown cover and windscreen repair)
By taking some time to research the market, you can save yourself some money, and also some hassle – for by sifting through the details of your policy and ensuring you understand every detail. This can save further time and hassle should you need to make a claim.
Great Places to Work: New Jersey Manufacturers Insurance Company
New Jersey Manufacturers Insurance Company
Location: West Trenton
NJ employees: 2,400
Chief executive: Bernard M. Flynn
Who they are: Auto, property, and casualty insurance company.
What we love: High retention rate generous 401(m) plus pension plan, and pleasant work environment
“You have to have the ‘service gene’ to work here,” says spokesperson Pat Breslin. NJMIC, the state’s largest personal auto insurer, creates an atmosphere of service by first taking care of its employees’ needs. There are big-deal perks like the unusually generous 401(m), which matches employee contributions dollar for dollar up to a certain percentage.
On top of that, employees enter a fully funded pension plan after five years of service. Most female employees are eligible to receive at least ten weeks of paid maternity leave. New hires don’t need experience in the insurance biz and can earn their licenses in the office. And, because NJMIC promotes from within, most of their executives started in entry-level positions.
Smaller, symbolic gestures are meaningful, too: In the lunchroom, there is always free soup, crackers, and peanut butter and jelly, a tradition that started during the Depression. (The company dates to 1913.) An inclement-weather program lets parents bring kids to the office when schools close, instead of using a vacation day. And in the parking lot, executives don’t have special spaces. “If I come in early, I get a better spot than the president!” laughs Breslin.
Speaking of the president, when Bernie Flynn started with the company in 1993, he introduced himself by shaking as many employees’ hands as possible.
It all adds up to an impressive retention record. Nearly half of NJMIC’s employees have been with the company for more than ten years; the 25-year club boasts 251 active employees and 203 retirees. Current opportunities range from entry-level clerks to senior technical and professional positions.
Location: West Trenton
NJ employees: 2,400
Chief executive: Bernard M. Flynn
Who they are: Auto, property, and casualty insurance company.
What we love: High retention rate generous 401(m) plus pension plan, and pleasant work environment
“You have to have the ‘service gene’ to work here,” says spokesperson Pat Breslin. NJMIC, the state’s largest personal auto insurer, creates an atmosphere of service by first taking care of its employees’ needs. There are big-deal perks like the unusually generous 401(m), which matches employee contributions dollar for dollar up to a certain percentage.
On top of that, employees enter a fully funded pension plan after five years of service. Most female employees are eligible to receive at least ten weeks of paid maternity leave. New hires don’t need experience in the insurance biz and can earn their licenses in the office. And, because NJMIC promotes from within, most of their executives started in entry-level positions.
Smaller, symbolic gestures are meaningful, too: In the lunchroom, there is always free soup, crackers, and peanut butter and jelly, a tradition that started during the Depression. (The company dates to 1913.) An inclement-weather program lets parents bring kids to the office when schools close, instead of using a vacation day. And in the parking lot, executives don’t have special spaces. “If I come in early, I get a better spot than the president!” laughs Breslin.
Speaking of the president, when Bernie Flynn started with the company in 1993, he introduced himself by shaking as many employees’ hands as possible.
It all adds up to an impressive retention record. Nearly half of NJMIC’s employees have been with the company for more than ten years; the 25-year club boasts 251 active employees and 203 retirees. Current opportunities range from entry-level clerks to senior technical and professional positions.
Subscribe to:
Comments (Atom)