In a rapidly consolidating industry, Benefit Administrators face the challenge of on-boarding new customers quickly and cheaply on one hand, and of scalability, hiring and retaining trained resources on the other, resulting in escalating servicing cost per participant. As TPAs and record-keepers continue to customize their services for employers and progress towards total benefits outsourcing, they will likely be challenged by increasing costs, complexity, and growing technology requirements to manage benefits administration efficiently.

Patni's Benefits Administration Center of Excellence (CoE) offers an unmatched mix of domain, process and technology expertise to significantly impact the cost per participant for benefits administrators. We have a strong team of plan administrators, implementation specialists, pension actuaries and ASPPA-certified trained resources. Our team is proficient in dealing with various legal, technical, and regulatory compliance procedures across the benefits administration domain in North America, Australia, New Zealand, Canada, UK, and Ireland.

Benefits Administration Services Portfolio

Key Differentiators

• Largest third party benefits administration operations off-shore.
• India’s first and only provider to perform advanced Pension Actuarial Valuations for a third party in an off-shore environment. Patni’s team is involved in assessing the liability of pension funds and performs complex pension calculations.
• Significant experience and capabilities in client implementation and on-boarding of new customers.
• Only off-shore player with end-to-end Benefits Administration experience in Defined Contribution, Defined Benefits, Health & Welfare, COBRA, FSA.
• Only off-shore player with comprehensive experience in global benefits administration; including US, UK, Ireland, Canada and Australia.
• Only off-shore player with Trust Accounting experience in Standalone as well as Master Trust.
• Integrated BPO-IT capabilities with onshore mail room competencies.
• Deep domain expertise in Total Benefits Administration.
• Six Sigma practices as an integral part of quality and process frameworks.
• ISO 27001 and BS7799 certified; HIPAA and SAS 70 compliant.

Select Success Stories

Patni helped a Fortune 500 HR Consulting Company set-up and manage a shared services center and provide end-to-end Benefits Administrative services encompassing Defined Contribution, Defined Benefit, Health & Benefits, Actuarial Valuation and Trust Accounting aggregating to 700 FTEs. Patni delivered significant cost savings to the client leveraging our low-cost offshore delivery destination and consolidating operations spread over different locations in North America, UK and Europe and Australia. We enabled the client improve operating efficiencies by standardization of operating procedures.

Patni helped a full-service Internet-based provider of retirement benefits to administer HR processes like Contribution processing, Secure uploads, Dividend processing, Withdrawal processing, Loan processing, Cash Release, Form 5558/5500 processing and Compliance data extracts.  Patni brought in experienced 401(k) resources and established a CoE which resulted in significant reduction in plan administration costs.

Patni helped a rapidly growing international business processing company to successfully integrate two different processes from two different firms to one common platform leveraging off-shore location. The Patni team worked with 99.77% accuracy and increased productivity, resulting in significant cost reduction, system stabilization and process optimization; targeting and adhering to the Service Level Agreement.