Case Study 1: Engineering giant implements IntelliPlan and IntelliCount
In 2005 Procentia were appointed by a well-known engineering firm to implement IntelliPlan at its major UK site. This was the first full implementation of IntelliPlan, and the scope and range of IntelliPlan increased as all schemes were migrated onto the platform. The last phase was completed in 2011, when a scheme was brought back in-house from a third-party administrator. At the same time, the project was extended to include IntelliCount, the pensions accounting tool.
Currently, there are approximately 120,000 members across the DB schemes and strategic DC scheme. The administration team are responsible for pension payment to around 60,000 pensioners a month across five payrolls. The approximate split across schemes is 20 per cent active, 30 per cent deferred and 50 per cent in pension.
There is a high degree of automation, with all calculations performed by IntelliCalcs. Following a two-day training course, members of the pensions team are able to amend workflows and letters themselves, only relying on Procentia for substantial changes. Members are able to calculate retirement quotes, change addresses and complete their own nomination of beneficiaries forms. Despite significant complexity, high levels of quality and service, and low take-up of self-service, the administration team are achieving an admin to member ratio of more than 1:10,000.
Looking forward to 2012 and beyond, the administration team and Procentia are working together on a number of improvements to boost productivity and trustee service and promote self-service.
Case Study 2: Third-Party Administrator (TPA) adopts IntelliSite
The company’s relationship with Procentia goes back to 2005, when IntelliSite was first implemented as a member website solution for their in-house scheme and TPA book of business. The system currently supports some 300,000 members with scheme-specific online planners and full benefit quotations.
When considering revamping their DC business, the company’s priorities were automation, straight-through processing and state-of-the-art administration at a low cost per member. This soon led them to IntelliPlan, and to a developing relationship with Procentia.
Fast forward to today, and Procentia has now implemented a front-to-back automation solution with web-initiated transactions operating through automated workflows to automatic dealing and payment systems. Many processes now take place without human involvement, including production of high-quality printed output to members and sponsoring companies.
Straight-through processing has been provided on top of the Altus Investment Gateway, so that all DC transactions can process automatically onto the secure SWIFT network. Additional checks and balances, including matching of monies from scheme sponsors, are provided by the IntelliPlan platform, together with complete unit and fund reconciliations.
The company have made extensive use of the IntelliPlan barcoding facility to stamp all outgoing post with unique barcodes. This enables automatic wake-up of cases via receipt of scanned responses and commencement of workflow cases from incoming forms.
The company now have Procentia products operating at all levels in their business, from front-of-house member and employer websites to back-office automated administration platforms. With the help of Procentia-run training programmes, their own developers have become expert at implementing websites using IntelliSite and make use of the product for company websites as well as database-backed member websites. Procentia’s flexibility and willingness to make code and mentoring available have been key drivers in the relationship between the two companies and in the overall success of the implementation
Case Study 3: International Logistics Group Implements IntelliPlan
Procentia’s client is a global market leader in international express, overland transport and air freight. Following a review of operations strategy, the company decided to bring three of its externally administered schemes under the control of its in-house administration team. In 2008, the company commissioned a well-known firm of consultants to help with the selection of a new pension administration system for the previously out-sourced schemes. After a full review of the choices, the company selected Procentia to provide its IntelliPlan suite.
The schemes had previously been administered by two separate third-party firms using quite different computer systems. As a result, a total of three separate data conversions were required to move the data into IntelliPlan, using Procentia’s IntelliFeed data conversion and interface tool.
Since the client wished to automate and streamline as many of its processes as possible, extensive use has been made of IntelliCase workflows. All the client’s DC processes have been workflowed, plus many other routine processes. IntelliFeed has been used to interface IntelliPlan with SAP payroll systems. Once the data is received, these interfaces automatically trigger workflows. For example, DC contributions are loaded from SAP into IntelliPlan by an IntelliFeed interface, which then automatically creates a contribution session workflow to validate and process the contributions.
The client has also made full use of Procentia’s document-imaging module, IntelliScan. All documents received by the pensions department are scanned into IntelliPlan and workflows are triggered automatically. The scanned documents are then retrieved either from the member’s record or from the workflow case.
The client has a very diverse set of benefit calculation rules, having both DB and DC schemes, protected rights underpins, contracted-in and contracted-out schemes and DC AVCs. Through the use of IntelliCalcs, Procentia’s powerful pension calculation engine, configuring the calculations in the system has been straightforward.
The client has made full use of IntelliPlan’s DC lifestyling function and is currently implementing an annual management charge process. The company has also utilised the one-pass DC switching process, and plans to move to straight-through processing in 2013.
The company continue to increase their use of IntelliPlan and have recently migrated a further ten schemes from other systems onto IntelliPlan in order to consolidate onto one platform. This has increased the number of members under administration with IntelliPlan to 200,000 and increased payroll sizes to 50,000 pensioners. Since the migration to IntelliPlan, the original twelve individual payrolls have been consolidated into a single payroll, greatly simplifying monthly processing.