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Pan European Insurance Binder Management Migration

Client Business Issue

A pan-European insurer, with multiple branches, had a binder contract business accounting for a significant proportion of its premium income, yet its delegated authorities provided bordereaux data in a variety of formats.

Every branch had unique binder management systems that not only recorded binder management information, but also cover holders, underwriter visits and financial reviews. As a consequence, they had no way of reporting on binder business across the group, as it was dis-jointed. This created divergent processes and data capture standards that restricted reporting capabilities and the alignment of client service standards. The narrow focus of such single-system reports allowed only a small piece of information to be seen at any one time. To realise the full potential of their information, the client needed to unify data across each of its branches systems.

Client Value Received

Once a binder management solution had been chosen. IDM was appointed to migrate, consolidate and transform the data from each of the heterogeneous systems to provide a single view of the data. Complexities included mapping and merging data in different formats from 6 diverse systems—with a large amount of cleansing as a result of the inconsistent data capture standards. Additionally, IDM supplied new business rules to allow integration between the new binder management solution and the existing underwriting systems.

As a result of the migration the new binder management system could now provide essential information, and an up-to-date management information report spanning 7 years. This could be produced quickly with significantly fewer data errors.

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