We’ve delivered results for a wide range of top Insurance Carriers, BPO’s and Software Vendors supporting the Insurance industry. Below are several sample Case Studies.
Case Study 1
Challenge: A large Connecticut based insurer needed to migrate their Corporate Owned Life Insurance block of business of 120,000 policies from their legacy policy administration platform. The insurer engaged The TLAG Conversion Factory to convert the block, to build and test product requirements, to build and test interfaces, and to manage the impact of the business processing changes. The client had a hard and fast end date for the project which allowed for 9 months from start to finish.
Delivery: The TLAG Conversion Factory ran the full project per our methodology, which broke the project into 2 phases: Initiation and Execution. The Initiation phase took 10 weeks and produced all of the project requirements which included Data Maps, Data Gap Report, Product Business Requirements (UL, VUL, ISWL, PPVUL products), Interface Requirements (15), Business Processing high level requirements, Conversion Strategy and Approach and Testing Strategy and Approach. The Execution phase took 6 months, followed by 1 month full production parallel.
Results: A fully automated software platform was installed on time, on budget.
Case Study 2
Challenge: A top tier Northeast insurer purchased a large block of variable annuity business and needed help to identify target system options and convert the business. The acquiring company engaged The TLAG Conversion Factory twice on this project: once to help identify and evaluate administration systems options, and the second time to help with the business migration.
Delivery: Upon selection of the new target system, The TLAG Conversion Factory provided key resources to the Business Migration phase of the project. The project was done in 2 phases: a Workshop Phase which lasted 8 weeks and resulted in detailed business and system requirements, and an Execution Phase which took 14 months.
Results: Over 250,000 contracts and financial history converted and cycled forward for 18 months and fully integrated in a Business Processing Outsourcing arrangement.
Case Study 3
Challenge: A large New England insurer embarked on a multi-year plan to convert their existing life insurance business. The insurer engaged The TLAG Conversion Factory to convert the 1 st block of business of approx. 300,000 policies and to support extensive business and systems modifications.
Delivery: The TLAG Conversion Factory provided Project Managers, Business Analysts, and Developers to the project, who were responsible for business requirements, data maps, conversion requirements, interface requirements, audit criteria, system modifications, systems and business testing, conversion and interface development, project leadership.
Results: The project was completed successfully and on time.