Systems and Business Analysis
Data Migration / Data Conversion / Data Integration / Data Quality Assesment / Master Data Management
The need for a legacy system review can stem from many different events in your business including consolidation of systems, acquisitions and mergers, data-warehousing and system migrations.
Step 1 would include detailing the software modules, hardware, number of users, links to other systems, current support and development arrangements etc.
Step 2 would be a process review, this would be a thorough analysis of the business processes and how your existing systems handle these activities. A typical example would consist of workshops and interviews with users from each department to determine the areas of concern. We believe user involvement is paramount and gaining their support is critical in making successful changes to your systems.
Detailed reports would then particularize where the legacy applications perform well and where they do not in regard to the processes used within the business (i.e. failure of the system would have lead to users setting up multiple spreadsheets or database platforms to handle different business processes and as a result there may be other issues to consider i.e. duplication, accuracy of data, inconsistencies etc.)
An data analysis must also be performed on the new or upgraded system. This is because the architecture and storage methods are usually quite different and therefore information does not necessarily map from one system to the other with ease. This is particularly the case when migrating onto an existing application which brings particular constraints and complexities that need to be taken into account.
With this information the business will have a true picture of where they are at the moment and should then be able to make key decisions when upgrading, integrating or merging systems.
Our detailed experience of commercial insurance systems and in-depth understanding of the insurance industry and its business processes enables us to assess systems quickly and intuitively. We are also able to provide you with impartial advice on the best solutions for your business.
As the current economic climate slows down and competition increases margins are tight so its time to take stock and look for technical efficiencies. Typically, insurance processes are often made up of complex and densely interconnected manual and system processes. A great deal of duplicated data is often stored on a multitude of legacy applications which are often bound up with interdependencies so that it is risky to change a rule or a policy in the system in order to introduce a new product offering.
Enhancements in technology can drastically optimise core processing capabilities so that they can deliver straight through processing and agile product development, underwriting, risk modelling and claims processing.