Transamerica streamlines compliance with strategic automation

Transamerica Life Insurance Company, part of the Aegon Group, provides a variety of financial services—from life insurance to retirement plans—to more than 20 million people worldwide. Transamerica’s Global IT organization is constantly seeking new ways to boost efficiency while remaining agile, innovative and one step ahead of shifting customer expectations. Their challenge is further complicated by regulatory compliance standards governing the industry. The task of maintaining and demonstrating compliance with multiple standards needs to be done fast and consume as few resources as possible.

Global IT is leveraging TrueSight Automation for Servers to power an intelligent closed-loop compliance process that validates compliance; identifies, fixes, and revalidates out-of-compliance servers; and creates audit reports. Additionally, the staff uses TrueSight Orchestration to enable event-driven automation, eliminating manual efforts that consumed much staff time in the past.

The IT staff is applying automation strategically and in creative ways to drive efficiency, minimize risk, and enhance business agility. The resulting wins have transformed Transamerica’s business, empowering the company to innovate and, as a result, increase competitiveness.

• The closed-loop compliance process has slashed resolution times for compliance issues from days or even weeks to minutes.
• The compliance process has also reduced the auditing preparation effort from six people working in a room for a week to one person spending just a few hours.
• In the first seven months, automated event response handled 94,273 events and saved more than 9,000 hours of staff time.
• Event-driven automation has reduced the load on the level-2 staff, freeing staff time for more strategic activities.