Global Insurance Provider Increases Productivity, Reduces Costs and Enhances Policyholder Experience
Business Challenge
A global insurance provider was experiencing numerous challenges in providing its customers with the desired optimal customer service. The insurer needed to change the way it designed and developed business applications to support both internal and external customer processes as well as maximize market environment opportunities. To achieve that objective, a significant migration from legacy mainframe applications to a more cost-efficient, flexible and strategic architecture would be required.
During the course of migrating policy data from the mainframe to the new strategic architecture, the insurer encountered several difficulties. Poor data quality was the major issue as many of the documented “rules” for the 30,000,000+ case files were routinely violated. This insurer needed a proven methodology not only to ensure policyholder data would be consistent, accurate, and reliable, but also migrated in an accelerated timeframe.
Data Warehouse Center Solution
Bringing in a team of data conversion and migration specialists to work with the client’s internal team, Data Warehouse Center leveraged its best practices approach, immediately analyzing the existing data and developing a proof of concept (POC) for the data migration. This included deploying Evoke Software Corporation’s AxioTM software to analyze the policyholder data. This approach-coupled with Data Warehouse Center proven processes and techniques-identified numerous data anomalies, established a foundation for correcting data quality issues and improved the team’s ability to predict the level of effort required for the migration. Armed with fresh insight and the results of a successful proof of concept, the team created new budgets and timelines.
With Data Warehouse Center support, the client accomplished their data migration in one-third the time and at one-half the resource costs formerly budgeted. Data Warehouse Center powerful combination of tools, technologies, methodologies, and training enabled the company to dramatically enhance the way it delivered its internal applications, increasing policyholder satisfaction and enhancing value for its stockholders through improved operational efficiencies.
Return on Investment
Cost saving and revenue enhancements exceeded $20,000,000 in the first 24 months. The insurer saved nearly a million dollars in IT costs on the back-end by not having to fix data quality issues or engage in rework. Time to market for new applications was significantly reduced and, with a staff trained on Data Warehouse Center approach for Best Practice data warehousing and data migration, future projects became self-funding.