Migration : Efficient inventory management
As an insurer, how can I continue to manage and develop my portfolios efficiently in the future? In times of cost savings, changing customer requirements and the retirement of important knowledge carriers, every insurance company has to find its individual way – depending on the embedded IT landscape and the lived processes. The consolidation of IT landscapes and contract portfolios through data migration is a necessary step towards a flexible, modern and digital insurance company.
Adavantages: Modernization of the central building block of the IT landscape
When insurance portfolios are migrated to a new platform, you can streamline workflows in insurance operations.
Modern IT systems
Migration opens up the opportunity for insurers to create a more efficient data management and homogeneous IT landscape
Migration to a modern platform creates the necessary conditions for insurance companies to offer their customers digital services and improve customer contact.
IT systems with a modern technology stack enable insurance companies to respond more easily to future requirements and bring new products to market more quickly.
Questions: Important issues in migration projects in property/casualty and life insurance
The complexity of migration projects and thus the demands on project management are constantly increasing. Have you also asked yourself similar questions?
- Is my production system capable of accommodating legacy assets? Does it fit into my IT strategy?
- Should I rely on a standard system from a vendor? If so, which system would be suitable? What selection criteria are important?
- What will I have to pay if I want to migrate? How much and for how long will my team be burdened?
- What are the biggest risks associated with migration projects?
- What impact on my organization do I need to consider?
- Which deviations between source and target system are to be expected? What is still tolerable?
- Can I map my business transactions for all products in the target system?
- Do I have LV stocks that I should sell or manage externally if necessary? How can I assess this?
Our services: From the migration strategy, through test management, to implementation
With over 25 years of experience, our team of experienced actuaries, business analysts and IT specialists can help you prepare and execute your portfolio migration in composite and life insurance with the following services:
- Actuarial consulting
- Determining a suitable migration strategy
- Performing tariff analysis and mapping
- Project and subproject management
- Test management: design and management of tests
- Selection of migration tools