'Indian GCC: Forefront Of Global Digital Transformation': Tarun Sareen, MD, SLGS
Could you elaborate on Sun Life Global Solutions' commitment to fostering diversity, equity, and inclusion?
At Sun Life Global Solutions (SLGS), we are committed to cultivating an inclusive and respectful environment, where everyone can harness their potential to their fullest. We believe that belonging is one of the most powerful predictors of DEI efficacy in the workforce. When we feel that we truly belong at workplace, we feel more connected, committed, and valued. We then just own the opportunities and steer through challenges and help our workforce to do the best work of our lives and inspire others. SLGS strives to create an environment where our workforce has equal access to opportunities and resources that enables everyone to make significant contributions.
What elements make India an appealing choice for establishing Global Capability Centers (GCCs)?
In the last several years, India's stance towards the GCCs underwent an enormous shift. Today, there are nearly 1700 GCCs in India. According to a recent NASSCOM research, we will be increasing that number by 500 more by 2026, so size and reasonably priced skills are not the only benefits. The Indian GCC market size is around a staggering $36 billion, which continues to grow at a 10.5 per cent CAGR. We are a country with the largest youth population and therefore there is no debate on the fact that exponential technology advancements will happen here. All global organisations that are people-centric will look towards India for skilled technology and engineering talent.
What is your aim?
As Sunlife Global Solutions Centre, we want to become a digital corporation and pivot SLGS as a partner to India’s next gen digital transformation journey. Given India’s digital expansion and the penetration of digital and tech-enabled services, our aim is to expand Sun Life's digital capabilities in terms of AI/ML, analytics, and the use of various apps applicable and available for our customers and employees.
What future trends do you anticipate influencing the trajectory of GCCs in India, especially concerning technology integration and talent strategies?
As India emerges as the world's technology and services hub, reports have predicted a positive and upward trend in the GCC sector. It is expected that by 2030, India will have 2,400 GCCs with the number potentially increasing to 2,500. A standout trend for this year is the transformation of GCCs into bolder leadership for the world, adeptly replicating all functions and operations. Shifts in business priorities will heavily influence the service offerings of GCC’s, as they transition from basic transactional tasks to more advanced capabilities.
How is Sun Life leveraging digital and AI advancements within the context of the broader GCC landscape and specifically within its own operations?
At Sun Life Global Solutions, we are actively integrating digital and AI technologies within the Global Capability Centre sector and specifically at Sun Life. Here are some of the ways we are leveraging these technologies. There are many more examples though:
Generative AI: Our teams have conducted proofs-of-concept (POCs) using generative AI for software engineering, software testing, documentation, and knowledge management. These technologies have the potential to revolutionize content creation and enhance productivity.
Personalized Marketing Campaigns: We utilize AI technologies to develop personalized marketing campaigns that target specific customer segments based on their preferences, behaviours, and needs. This enables us to provide more relevant and tailored offerings to our customers.
Employee-Facing Chatbots: AI-powered chatbots are deployed to assist employees with their queries, providing quick and accurate responses. These chatbots help streamline internal processes and enhance employee productivity.
Claims Prevention and Automation: AI technologies are employed to identify potential fraud or anomalies in insurance claims. By leveraging machine learning models and data analytics, we can detect patterns and anomalies, preventing fraudulent activities. Additionally, we automate claims processing to improve efficiency and accuracy.
