Länsförsäkringar Streamlines Human Resources, Cuts Costs, and Saves Time
 
 

Länsförsäkringar Streamlines Human Resources, Cuts Costs, and Saves Time

Länsförsäkringar includes 23 local, independent, and customer­owned regional insurance companies across Sweden, as well as jointly owned Länsförsäkringar AB, through which the insurance companies collaborate. The organization runs joint banking and insurance operations, carries out joint development work, and provides services to regional insurance companies. Länsförsäkringar offers its customers a broad range of services within banking, insurance, and real estate.

 
 

 
 

Challenges

A word from Länsförsäkringar AB

  • “With Oracle's PeopleSoft Human Capital Management, we have streamlined all human resources processes in the organization. The solution has become a natural part of daily work for all managers and employees—even in a large part of the regional insurance companies—and it has helped us realize significant time and cost savings.” – Carina Gehnich, Head of HR Administration, HR department, Länsförsäkringar AB

  • Centralize the human resources (HR) organization and processes on a standardized platform
  • Introduce better tools to simplify managers’ administrative HR activities, such as appraisals and employee achievement monitoring, raising the quality of HR and thus laying a foundation to improve the quality of the financial core business
  • Increase automation of HR processes to reduce costs, save time, decrease risk of errors, and reduce manual paperwork
  • Improve the working environment by introducing a system as a tool for all managers

Solutions

  • Replaced old HR systems with Oracle's PeopleSoft Human Capital Management to centralize the HR organization and increase effectiveness of its processes, such as recruitment, appraisals, and payroll audit
  • Improved managers' HR process control, simplified their administrative work, and gave them significantly better tools to monitor employee performance and achievements, thus raising the quality of HR—ultimately improving the quality of the financial core business and enabling the company to meet customer demand for financial services
  • Automated several HR processes, such as recruiting, career planning, and succession planning, and integrated the HR solution with the existing payroll system—reducing manual work, errors, and costs; achieving time savings; and improving safety
  • Created a foundation for an improved working environment by using a standard feature in PeopleSoft Human Capital Management to build a tool for a working environment that involves all managers in the organization
  • Decided to upgrade the solution to Oracle's PeopleSoft Human Capital Management 9.2 to modernize interfaces, leverage improvements in the eLearning module, and further improve HR efficiency