Skandia selects Thunderhead for compliance
Skandia will initially implement the Thunderhead framework in two areas; firstly in the production of all policy documentation for a new range of Pension products and secondly in the creation of annual review statements for the Protection range of products.
Skandia will also use Thunderhead to streamline the creation and maintenance of ad-hoc customer correspondence, providing auditability, automation and improved operational efficiency to the process. Thunderhead's personalisation capabilities and multi-channel support will enable Skandia to produce highly contextual communications based on individual customer preferences. Output options include support for high volume print, e-delivery through Financial Advisor and Client portals, email, and fax.
“Skandia selected Thunderhead as an enabling technology that addresses our long term IT architecture ambitions, whilst streamlining our business processes and supporting our correspondence related customer service objectives.” said Tim Mann, IT Director, Skandia Life. “We now have a single enterprise solution for fast, flexible and easy to use real-time, batch and ad hoc document generation services across the enterprise.”
Unlike proprietary document generation systems, Thunderhead is designed to enable business users to control the development and maintenance of customer communications and is based on open standards architecture. The resulting benefits will include reduced costs by simplifying the document creation and maintenance process, ease of integration and support, higher quality communications, enhanced customer service, faster response times to regulatory requirements and reduced time-to-delivery of new products.
“Thunderhead's document generation framework will assist Skandia to personalise and manage all aspects of customer communications effectively in light of compliance initiatives, such as the imminent A-Day legislation, as well as future-proofing for any regulatory requirements yet to come,” commented Glen Manchester, chief executive officer at Thunderhead.