In the short period since the migration, Prudential experienced several significant benefits:
With SmartCOMM™, the ability to rapidly produce and efficiently manage highly complex regulatory communications saved Prudential a considerable amount in external development costs. Combined with reduced fulfillment costs and the benefit of “just in time” production, Prudential estimates that the solution has saved them a significant amount on this single regulatory document alone. On top of that, Prudential enjoys ongoing savings from noexternal annual maintenance fees.
Fast and Easy Global Updates
Thanks to the “shared content feature” within SmartCOMM, when it came time to update call center hours – a data point that appeared across many of Prudential’s communications, the change was one-and-done! While global changes like these previously took months to perform and required the support of IT, Prudential’s business team now simply identifies and makes a single change that’s reflected across the system in a matter of hours.
Prior to the solution, syntax, semantic and compliance errors caught during document creation involved a lengthy and inefficient process to manually correct the errors. After enabling SmartCOMM’s review and project approval solution into its workflow system, Prudential can now electronically capture exceptions and route them to the appropriate user’s desktop for review. Business users can make the necessary changes to documents with an easy-to-use interface. Once complete the document goes back into the automated fulfillment process for completion.
Prudential is a leading international financial services company offering a wide range of products and services from insurance and pension products to retail and institutional fund management services. With operations in Asia, the UK, Europe and the US, the Prudential group consists of a number of well-known and respected brands including Prudential, M&G Investments, Jackson National Life and Prudential Corporation Asia and has attracted more than 20 million customers worldwide.