Our client a leading European insurer was striving to migrate three different policy administration systems to the new target system. The challenge was to convert and migrate fire and civil policies residing on multiple platforms, while providing complete transparency to policy holders, non-disruption to brokers and ensuring business continuity.
Hexaware helped the client migrate over 175K fire and liability policies to the new target system using our proprietary automated data migration solution, iConvert+.
Hexaware has been the ongoing partner for data migration program and recently helped the client to achieve 100% Policy & Claims Migration for our client which includes migration of 730K Polices and 30K+ Claims. This is a resultant of two very prominent Policy administration systems (Life as well as Non-Life) product acquisitions made by our client.
Major benefits delivered to the client are:
- Increased data entry operations productivity by 50%
- Minimized risk and reduced total cost of ownership by over € 500 k annually – for the first wave of migration and committed TCO reduction planned for ongoing data migration program
- Faster Conversion: End-to-end automation of data migration and testing enabling 30% reduction in conversion effort
- Outcome-based or fix pricing model with no license cost of iConvert+ and a predetermined time commitment from clients Subject Matter experts
- Improved Quality: Guaranteed on-time, error-free conversion of all the contacts, policies, claims and financials
