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A leading Lloyd’s insurer had a five-year plan to migrate multiple lines of business from various legacy systems and then consolidate them into their new bespoke underwriting system to gain a single client view.
The leading Lloyd’s insurer had a number of failed attempts in migrating the data for phase one, so there was a level of anxiety as the project needed to be recovered and completed swiftly.
The first phase involved IDM working with the client’s key stakeholders to migrate a book of Motor Fleet policies, these comprised of around 140,000 clients and policies, 300,000 claims, 300,000 vehicles and financials dating back to 1993.
The second phase was to migrate the Liability book and take data from multiple legacy systems. The second phase went live ten months after the first, and this required IDM to merge the Liability data into the live Fleet data from phase one. By undertaking a client and broker mapping exercise in parallel to the migration, this ensured that the number of duplicate clients and brokers created in the target system were kept to a minimum.
The third phase involved migrating the client’s Property book. This phase was much larger as the property data was taken from three legacy systems and merged into the already live Fleet and Liability data from phase 1 & 2.
In all three phases IDM were involved in the end-to-end process, analysing the data, developing the migration modules and testing the information alongside the insurer’s business users. IDM reconciled the data with the client’s statistics department to ensure a successful end result.
With a single view of all these lines of business, this leading insurer has lowered their operating costs, increased efficiency and offers a faster and more satisfying client service.